New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-03
VAIL STREET MEN SEE cor. HOGG.

HE GIVES THEM COPIES or THE TEXAS "BoNp
AND INVESTMENT" LNw-TEXT or IT.
Ex-Governor j. : Hosr. OF Texas has numbered
among his callers during his stay IN the city quit"
4 number ~ Wall Street bankers AMI brokers VINO
deal in Texas securities They have called in orler
- get an explanation from Governor loss oil
law which was passed during his Administrations
and which has been generally known ~ the Bona
ana Investment law. This law Is unique in some
Of is provisions and 10y advocating u Governor
Uog, gained the tti" Of ihe anarchist Governor.
r, each caller Governor IIogg has given a copy ~
the Law The unusual features Of this .aw ana the
ones which affect speculation are as follows
That hereafter bonds or o.her indrote ,,,
shall b. increased or issued by any authof'y WA ,
en,y-r. and secured by lien or mortSasr on any
,,,,r,v I.l,netng thereto over above the rra
,ouabl. value of said railroad property; PiovIri
,hn. J." ~. c,nnanv - the Railroad Commis
SION 'hat pubi. Interests n" preservation Il u.
s,i bonds iogcthrr with tho stock In the aggregate
- bc executed 20 An amount not more ina" 80 per
''T HIM, ~ sh.r De- the duty of the Railroad Commits
70 ascertain and IN writing r'Pori 10 '' This
s 49,, ,r.l,y hfrf /, sna have prepael said
i,uv Interested ten DAYS notice In "rltns, u! Tx
,"r .,t.r - the president. treasurer or receiver
y. .,iI rallr1lI 10 the effect that said report IL
ready t. Doc made ANA That " u nave any VpJ'' .,
thereto 4, must ME- them I'm writing, within forty
days afer sili service or The same MI be so l.
,.,.,f.1 ,,ith 'hr Secretary OK state a. correct
Sh,.,,I the company ~" with said commission any
,tt.'tI,ns TO slii report x value. the commission
.n1u ,u,v Investigate and pass on the SANE ON
intc-ilgliiou o. ia" commission con'IuIc 'i,', ~
r.r,rt ~ value BE- too low too high then II sh1i
ma k. the necessary correction before nhhs H.
a., t,..,l ,1- b. nlal within fae time permitted OF
h..ng nlel and on examination found without m"iIt
,h. commission shall forthwith ~" IS Si1i report
40, ~, ric ~ the Secretary OF state, Wh"t" IL 0lhh
remain ~ a public record. ~ Limitation 'r l"- IS
s,ttn.. ~ Indebtedness uni"r the limitations pre-
,,rn.d la fnI- act. The commission after que no.
H.. may correct ifs report 20 value OF Any r'i'''
M any time 10 may deem proper. 49,, -. .
Whenever any railroad company H l"l' '''A.'
.h,u hereafter desire 20 max" issue ami soil any
h',ris ar .li!enc.s - debit which are g. become a
i.n ou IL. property IL shall have said bonds pre-,
ptred signed uy the president oi Inc ''inp11"S '.'
Infested by the secretary, with 40" sea- "i IN" COM
many attached thereto. Each bond shah ne num-
hrreI beginning with number one; or me mex, hlsH,
80, number Of any preceding bond issued nN H. anu
continue c,u4rcutiycly until all are NUMBERED ne
bonds shall b. dated made payable ar Il um' no.
.Yc.rling thirty years rom date. ana ehdh D.
,,t.r,sf NOT .Nrrcding per cent per dnuIH. ! ne
,iI bonds shall be- presented 10 IN" Nhli"A ''ul-
ul.aiou OF this State with a statement ~ "ti'lnE
"irnrl and sworn 20 by the president O. 9i!I COM
many showing IL" amount Of ~" .t''N OF 80
irnrr,rv and the amount OF outstanding h)hl-' II
M ,f s,tt company. II said bonds are Suoh a.
nrr ,.rulttcI under this law, ana th', ial.Iuii
som1nisslou shall bc satisfied, IL shhH approve
IN honjs and shall i-su" to the secretary OF STAY"
"A direction To- register "iiI nIptS' sP'''''''H ''''
numbers dates ami amounts thereof.
Tn, other clauses OF the law provide Tor puhi'h-
,n, in GA 50 Of "A violation Of the law regulate the
,,,,,er I'm which stock Is issued and cover other
.t..fu