East Oregonian : E.O. (Pendleton, OR) 1888-current, 1912-03-14

porated or an unincorporated associ-
alton, setting forth in such form as
may be prescribed by said bank COM
missioner, its financial condition and
the amount of its assets and liabili-
ties, and furnishing such other infor-
nation concerning its affairs as said
pank commissioner may require. Each
regular statement of December 31st
and June 30th shall be accompanied
by filing fee of two dollars and
fifty cents. Any investment company
failing to file its report at the close
of business December 31st or June
SOth of each year within ten days of
that date, or failing to file any other
or special report herein required
within thirty days after receipt of
request or requistion therefor. shall
forfeit its right'to do business in this
state.
Sec. g. The general accounts of
every investment company, domestic
or foreign. doing business in this state
shall be kept by double entry, and
such company, its co-partners or
managing Officers, shall at least once
III each month make a trial balance
of such accounts. which shall be re-
corded in book provided for that
purpose; such trial balances and all
other books and accounts of such
company shall at all times during
business hours. except on Sundays
and legal holiday, be open to the in
spection of stockholders and invest
ors in said company or investors in
the stocks, bonds or other securities
by it offered for sale and to the bank
commissioner and his deputies.
Sec. 10. The bank commissioner
shall have general supervision and
control, as provided by this act,
over any and all Investment compa-
nies, domestic or foreign, doing bus
mess in this state, and al such in
vestment companies shall be SUBJ
ject to examination by the bank com
missioner or his duly authorized dep
uties at any time the bank commits
sioner may deem it advisable and in
the same manner as is now provid-
ed for the examination of state banks
The rights, powers, and privileges of
the bank commissioner in connection
with such examinations shall be the
same as is now provided with ref
erence to examination of state banks
and such investment company shall
pay a fee for each of such examina-
ton of not to exceed five dollars for
! each day or fraction thereof plus the
actual travelling and hotel expenses of
said bank commissioner or deputy
that he is absent from the capitol
building for the purpose of making
such examination, and the failure or
refusal of any investment company to
pay such fees upon the demand OF
the bank commissioner or deputy
while making such examination shall
work a forfeiture 81 It's right to do
business in this state.
Sec. II. Whenever it shall appear
| to the bank commissioner that the
assets of any investment company
doing business in this state are i'm
paired to the extent that such assets
no not equal it's liabilities. or that
it is conducting its business in an
unsafe, inequitable or unauthorized
manner, or is jeopardizing the inter-
est of its stockholders or investors in
stocks, bonds or other securities by
| it offered for sale, or whenever any
| investment company shall fail or re-
fuse to file any papers, statement or
| documents required by this act, with
out giving satisfactory reasons there
for, said bank commissioner shall at
once communicate such facts to the
attorney general who shall thereup
on apply to the supreme court or to
the district court where such COM
pany is located or is doing business or
to judge of either of said courts
for the appointment of receiver to
take charge of and wind up the bus
iness of such investment company and
II such fact or facts be made to ap-
pear it shall be sufficient evidence
to authorize the appointment of a
receiver and the making of such or
ders and DEGREES in such cases asi
equity may require.
Sec. 70. Any person who shall
knowingly or wilIfully subscribe to
or make or cause to be made any false
statements or false entry in any book
of such investmen company. or ex-
hibit any false paper with the inten-
ton Of deceiving any person author
lied to examine into the affairs of
such investment company, or shall
make or publish any false statement
of the financial condition of such in
vestment company, or the stocks,
bonds or other securities by it offer
ed for sale, shall be deemed guilty of
felony, and upon conviction there
of shall be fined not less than two
hundred dollars nor more than ten
thousand dollars, and shall be inn
prisoned for not less than one year
nor more than ten years in the state
penitentiary.