The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-01-04
IMPORTANT TO
COPPER COUNTRY
-
Blue Sky" Law Will Save People
Much Money Declares
John D. Cuddihy /
MUCH ADVANCED LEGISLATION
Record will Be Made in Passage
OF Progressive Laws
TONNAGE TAX IS SEWED UP

John d. Cuddihy. president Of the
FIRST National bank OF Calumet re
turned yesterday from Lansing. where
lie attended the inaugural ceremonies
&c Governor Woodbridge ~ Ferris
which took place or the east steps ii
The capitol at noon on New Years day.
Nr. Cuddihy was very much i'm
Dressed with the ceremonies \ tre-
mendous gathering of people was III
attendance, who had come from every
county In the state.
There will be enao ted by tue pres
cnt legislature u law that will be If
tremendous Importance to the people.
of the copper country said Mr.. Cud-
dihy. III is now known 3s the blue
sky law, ana when placed on the stat
ute books. il will mean more in a ma
terial way that u.s. dollars and cents,
perhaps than amy other bill proposed in
the history of the state
This bill will compel all who desire
to sell securities in Michigan to sub.
nit all data and information to the
securities commission. which will be
composed of the banking commissions
er, attorney general ami state treas-
urer and will enable the commission
TO determine whether or not the secur-
ities are bona tidc and q safe invest =
ment.
While IL is possible that the in-
vestors may lose even though the Sc
curities are passed upon favorably
the careful scrutiny and examination
of the commission viii minimize the
percentage of loss.
THE state of Michigan has been
flooded in years past with promoters
and faliirs from outside the state who
have reaped a harvest selling stocks
and bonds especially mining stocks
with nothing more in value than the
blue sky 1t is quite reasonable to
say that the people of Houghton coun-
- alone have been fleeced out of d
HlllllbH uolldiS III llit ldSl 'tIl NthiS 'N
Investing hard earned money IN
worthless fotations of this kind.
The present Legislature is going 20
be q record one for advanced legisla-
tion. The Republicans, Democrats
and Bull Moosers are falling over
each other To Introduce progressive
legislation of all kinds,
I'VE viii have the initiative, the ref
erendum, the recall. minimum wage
for women. the real Australian ballot
which means that the ballot will con
tain no party insignia. The voter will
have TO put cross in front of the
name of the candidate he wants "a
vote for. Senator James is on the
ground active and alert. and had SO
many pills of progressive legislation
in his pocket going down on the train
that he could not button his coat. Rep
resentatives Petermann and Edwards
Will find themselves voting for ad-
yanced measures that would have
been considered Socialistic in a
Knights of Labor council in this coUn.
" eight or nine years ago, and would
he considered rank heresy In the coun-
ellis of the Republican party only a
few years ago
Mr.. Petermann of Calumet will be
heard from i'm this legislature. as he
r. man of splendid intellect AMI
mental calibre. Rep. Happier is one
of the busiest members on the job. III,
has wide and extensive acquaintance
among the members of both houses
and IS extremely popular with all. Rep
James Wilcox from Ontonsgon county
Is having the time of hts life. Capt
jim has not been as happy, nor looked
as happy. since the time when move
around stickler' was a popular vernac.
r'lar of the day, and Cornish wrestling
The only real wrestling. the prim,
sport of the copper country.
The six Republican members from
the upper peninsula actually held the
balance of power ard decided tn,
speakership contest The reason the,
did not go into the Republican caucus
the day before the convening Of th'
legislature was because they were no
OH the ground long enough to get th'
situation fairly Ia hand Candidate
Ashley for the speakership, with thir
ty-fve Democrats. eight Bull Moosers
and few bolting Republicans, cant
within striking distance of the speak
| ership, and could have been electe,
with the T.. p. vote. Before voting TO
Currie. who was elected. the U. +
members placed him on record through
promises, on the tonnage tax. an'
ether important measures affecting
this part of the state.
"The banquet rendered the retirin,