Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1910-11-26
STOCKHOLDERS MAY SEE
FIGURES FILED WITH BUREAU
Public Also 10 Favored and May Inspect
Reports Of Com paniss That Advertise
Stocks for saIe-No Copies Of Re.
ports 20 es Sent out-Must Remain
In Government Charge.

Iatt. IneSe regulations were approved
by the cabinet at today's session. They
permit stockholders to get at facts rela-
tive to the corporations in which they
have investments, and they provide for
the opening of the books OF the inter-
nal revenue commissioner to persons
who apply for permission in writing.
giving good reasons for their curiosity
with respect to corporations that come
within the semi-public category-,that
is. those that have their stocks listed
on the exchanges or which offer their
stock for sale to the public.
Provisions Of the Order.
After reciting various sections of the
law the executive order says:
"F'or the purpose of making effective
the legislative intent thus expressed.
the president has ordered that all such
returns shall be open to inspection un-
der the following rules and regulations:
81. The return of eevry corporation
shall be open to the inspection Of the
proper officers and employees Of the
treasury department. Where access to
any return is desired by an officer or
employe of any other department OF
the government, an application for
permission to inspect such return, set
ting forth the reasons therefor shall be
made in writing. signed by the head of
the executive department or other gov
ernment establishment In which such
officer or employe Is employed, ana
transmitted to the secretary OF the
treasury. If, however, the return Is de-
sired to be used in any legal proceed
ings, or to be used in any manner by
which any Information contained In
the return could be made public or
access to and return Is desired by any
official Of any state or territory of the
United States. the application for per-
mission to inspect such return shall be
referred to. the attorney general and. II
recommended by him. transmitted to
the secretary Of the treasury
Stockholders Favored.
"2. The secretary Of the treasury at his
discretion upon APPLICATION to him
made setting forth what constitutes Il
proper showing Of cause. may permit
inspection Of the return Of any corpora
ton by any bona fide stockholder in
such corporation. The person desiring
to inspect such return shall make ap-
plication in writing to the secretary of
the treasury. setting forth the reasons
why he should be permitted to make
such examination, and shall attach to
his application a certificate signed by
the president or other principal off,
Ger Of such corporation countersigned
by the secretary under the corporate
seal of the company, that he is a bona
fide stockholder in said company.
(Where this certificate can not be Sc
cured other evidence will be considered
by the secretary Of the treasury to de-
<1o
applicant is a bona fide stockholder,
and therefore entitled to inspect the
return made by such company) The
privilege OF inspecting the return OF
any corporation is personal to the
ed by the secretary can not be delegat-
ed to any other person.
Public to BE Admitted.
"3. The returns Of the following corr
porations shall be open to the inspec-
ton OF any person upon written appli-
to the secretary OF the treasury,
which application shall set forth brief
ly and succintly all facts necessary to
enable the secretary to act upon the
request:
"(a) The returns Of all companies
whose stock is listed upon any duly
organized and recognized stock ex-
change within the United States for the
purpose Of having its shares dealt In
by the public generally.
"(b) All corporations whose stock ts
advertised in the press or offered to the
public by the corporation itself for sale.
In case of doubt as to whether any
company falls within the classification
above the person desiring to see such
return should make application. sup
ported by advertisements, prospectus
or such other evidence as he may
deem proper to establish the fact that
the stock Of such corporation Is offered
for general public sale.
Returns can be seen only In the Of
fee OF the commissioner Of internal
revenue in Washington, d. G. In no
case shall any collector, or any other
internal revenue officer outside Of the
treasury department in Washington
permit to be seen any return or furnish
any information whatsoever relative to
any return or any information secured
by him in his official capacity relating
to such return.
No Copies Are Furnished.
mo provisions Is made in the law for
copy OF any return to any
person and no copy OF any return will
be furnished except to the corporation
the return or its duly consti-
tuted attorney.
The provisions Of the order are to be
from today"
ottumwa Singers Win Prizes.
Ottumwa. Nov. 2S.-Seven prizes out