The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-08-09
RAISE STANDARD
Of PROMOTERS
tssEsTAENr BANKERS ORGANIZE
no ELIMINATE oUEsTIoNARIE
DEALINGS.
UNIFORM STATE LAWS
ARMS or ASSOCIATION COVERS
NInE FIELD or ACTIVITIES
sCCoRDIN. 10 OUTLINE
or PRESIDENT

NEW YORK. August .. Invest
r,,..,, gsr1.rs +..na nearly every sec
,-.....f 1,tat.- gathered
-i"t OK ~" 'e-''''N
BIS tile Waldorf Astoria hetei 'oh'A" I
ana formed the Investment Bankers
associatio. George , caldwell of
chicago. was elected tae hrst pTesl-
dent
The main aufeyt ST. lac movement
$ 10 eliminate from recognition qHts-
.tanabIa promoters ana questionable
sccaEjty offerings Ii - proposed 10
.,rGaaize t. batrad which VIII tnVes
gate every prospective tejauon ANA
Ike 4-sltAl-4 zIALLl,i-p Ii -A4hr2A u
brand al condemnation Pure food
swe III other words, are 10 pe fol
4Ne cd Br pafe Investment avs
The 0rst session was held IN the az
f.THoon ami Was acteaded by some
-Ne hundred bankers
Explains Aims.
Tine broad aims 80 tUe rtv bUdH
we're explained rs MIR ADV eiu Who
acted as temporary chairman. ie EN-
uhas5zed the Importance af tho Invest
mcnt banking business Ia this coun-
iry. DE need for co~operauon, and
The opportunities for helpful WORK.
Mr.. Caldwell called attention 10 the
amounting 90 81 9oV'VVV,Voo are hSh =
a|ed every year by hahklhs no
which come properly uha"F 10" pfaa
81 Investment "a AN II rs ne"
carried on ssid "i- at'"''" ''-e
tt#k oi lA's business * 0one %
Ian -.''p '''ri'-N =" "S's e. ID
F'5mhtf ~ N'iSaai'E ai''t+". ..,
tMe'''' f',''s as us -
,' 'e1 VII an 30
H9Is.s IA 80 n, '',t. !
aAe' po'a' " "He ''H"s
Pa N'is o,a we {,as','''.. 70 ,,',1f
"''4 - ~ I's - ~, ~ 10y, !.
s-,'.49|ts,,, 49, -, fa,
.s'5'5 ,'.t go .t,s,,he,i ir,(alIs-
.,,,.,tsr .-,t,.itr. fro,, u,h3et
LII ,'e,,s<,t,.,t,i,, Ion,. fne sood 70.
~. Ia ~. -. ..'l,,,r{,,y ~ preat,.,
.,,[ssa,,,7,,,. il, st.ta lsv-s governinR
th. tseuanca ~ mJnfetnal eccttrities.
atauiee the efarJa roil,fiot, Of tn.
i.,a.r of tbc ,a,,.f,Ys states creattns
rph1fe seyv,,.. commissions and III,
3vsYfnc 81 public service securities.
There "a today "A conflict Of IN,
fa~p or the state and those or tn,
federal ,o,.rn,nsn+ regarding ronscr
-affon and control If water mowers
aaa ,sDf{l settled the deVeloDment q
t,dro- eleotrtc pronart{as will no great
rs retarded There is also tho nucs
,faD oe "a reSaral corporatthr Law. A
,trase-,t ,,taf,asu Initiative - preatr
h,n,r.rod Inv the co,,lttr1{oftv ~ law
,so,.ern{ng interstate cornorations
Federal law nrov4din9 for nattann
tncornoration making interstate rnr
rara.tnnr xun5ef+ IN uniform require
-nents with annual reporf4 ia he ae
,a,nnan,ed nv a sworn statement sui
iert In ,,vesitvation nv !. federal Ia
reau II &c Eorgesta1 wonId great
trnnrove the a1alttv Of otf tndnetrf,
securities ana at7aia runb eXnens
and confusion .,
Ereauent Discussions
In conclusion Mr. .a}dweU ,rRe
that greater attention he rtrer /,
na,,lar. ~ ,rattere ~ reoieiati,
character lie also advised more fr,
oufnt discussion of matters {
srnsan,tl ,harartp, Innl,rr 10 II
frnrrn7.a,,,e,,t ~ hapl{ng ,csthad
Standardization a. xnrnrit1es orc
Ths- rreati,,n of a naf3onsl bnrea
of forestigattan +, examine all M,
motion enterprisee was ADVOCATED ,
\ secbrest ~ Tt,tefato rh,e b,