davidaulloa/AmericanStories huggingface dataset:
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31

state "a, have been robbed OF millions
Of dollars by the dishonest promoter,
and the Misrepresentation of ths.
stockholder and the wildcattcr whose
manipulations have done more tn
stagnate legitimate development than
any other thing.
With this in mind II is interesting
to state that what opposition there 10
to the law comes from the men who
made the law necessary. II Is not the
stockholders and the investors who
look askance at the law. 1t IS not tho
man who has a legitimate plan for {,
square corporation who says the law
will hamper and hold development
back. 1t Is not the widow who has In
vested TIE Insurance money left tn
her. or the working man who has wa
gered his savings against the prom
ises OF the promoter. These peopla
do not say the law Is bad law. 1t II
the broker who deals In the stock OF
corporations long since dead. the pro
moter who has been In the habit OF
taking sixty cents out OF dollar Tor
his own commission and spending the
remaining forty cents for office ex-
pense who are cavilling against tho
law. 1t is not solicitude for the In
vestor but tender feeling for the d.
vestor that makes them howl.
4 Necessary Law.
The Blue Sky Law has taken its
place on the statute books because
conditions demand 1t. 1t VIII stay
there because 1t will protect the un-
wary and the guileless from misrepre-
sentation and fraud. 1t is valuable
because it encourages honesty and
Furnishes dishonesty. 1t will take its
place beside the direct primary law.
the initiative and the referendum and
the recall amendments. as compli~
ment to them. promise and por
tent of fair dealing in things finan-
cial lust as those other provisions are
| bulwarks of the peoples safety In
things political. 1t will endure because
1. makes for better conditions for a
higher and safer plane of state devel-
opment and progress, for safer and
saner financing, for common honesfs
| between man and man.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31

Sky Law was directed at the corpora
uon itself. That was not the inten.
tion Of the legislature. 1t reaches
behind the company to the promoter,
and beyod the promoter to the stock
, salesman and the stock broker, de-
manding Of them honesty Of intention,
and integrity Of action. 1t is not the
purpose, and II will not be the effect
of this law to hamper, circumscribe
or retard the progress or develop
Tnent of legitimate and honest cor
porate activity In this state. The law
is the friend of the square corpora
tion, and. / am sincerely glad to say,
the square corporations have demon.
strated their approval OF the law by
their corporation with the corpora
t!on department during the trying Pc
riod of organization.
Oregon wants. and needs, the pro-
ducing corporation to come in, to de-
vel0p her resources, to market her
products. to open her mines to in
crease her workshops, her mills and
her factories. A legislature would be
foolish indeed to enact law that
would fence out or drive away such
activity More foolish still would an
+, official be who would attempt to SO
contrary to the public good and the
prosperity of the state. Let US see
then, what the law is intended to ac-
complish. 81
Suppose John Doe wants to buy a
farm and has no money to buy it with.
He knows where there are 100 acres
| of good land, worth 800 an acre. at
a conservative estimate. He wants
to build new fences. new buildings, to
| stock the place, to put II into crop
and to carry 1t until its produce will
begin to pay him back for his work
and worry. The land will cost him
| $4,000. the improvement and the
working capital will take $4,000
more. John Doe is entitled to bor-
row $4,000, to buy and equip his
farm, II he can find an "angel" TO
loan him the money. He would not
be justified In borrowing 100000 or
$4,000 or 100000 on the deal. No
one would be so optimistic as TO hope
| to find any man, or set of men, who
would loan $4,000 on a $4,000 prop
osition. certainly not 100000.
| A corporation, as it Is defined above
Is an artificial being. II has nearly
all the rights, powers and privileges
in business way, that human be-
Ing has. II can contract, and be con-
tracted with. can hold property, and
dispose OF It, sue and be sued. 1r
short. II can engage in "any lawful EN-
terprise. business. pursuit or occupa
tlon" I fan to see. then, why th'
corporation. in the upbuilding an,
conduct of its business should expec
to, or be permitted to be governed b!
any other or more flexible rules o
business conduct than those which
govern the dealings of nsn and man
] fan to see. u John Doe can NOT ex
, pect to borrow 100000 on $40.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31
cards off the top of the deck as is his

cards off the top of the deck as Is his
due.
The mining game Is a gambiin.
game. with Luck for the dealer and
Chance for the Lookout. 1t is a good
game IL 1t is square. and a bad one II
II is crooked. Any man has a right
to play II, but he has a right to know
when he sits in the game that the
deal Is honest the cards not marked,
and that he has chance to win back
the money he puts in.
Mining Stock.
take It that the normal stock
holder, when he invests in mining
stock, has the right to expect that his
money will be used to develop the
mine and not the horsepower of the
presidents automobile. He would
| rather buy a promising hole in the
| ground than a whole lot OF promises
from the promoter. He would rather
| buy a keg of powder for the drill
man In the tunnel than a box of pow
der for the stenographer In the head
| office
Any investor has the right to know
where his money Is going. what it Ia
being spent for. He has a right to
insist. when he buys stock under the
representation that the money is go
ing to be used to sink prospect shaft,
that the shaft Is sunk.
That is wnat the Blue Sky Law Ia
for. Its purpose Is to see that the in
vestor gets his moneys worth. II
means that no corporation can be
| formed in the future unless It has
more assets than a stock book and a
|! fountain pen.
1 But the Blue Sky Law does not
| mean that the state of Oregon ha;
| undertaken to become the guarantol
of every security that passes the test
4 Of the corporation department The
law does not attempt to eliminate al
Il business risk, and make every stock
certificate as safe and staple as &
treasury note. 1t provides that ever,
corporation, partnership, company
association or person who shall issu,
or negotiate secuities, must show hi
ll proposition to be safe, sane and equit
able. and to hold out promise of sue
cess with both honest and efficien
management. That is all there is t,
1t. The corporation that wants t
borrow money of the public mus
show the public that it has a goo,
t hand and is going to play it honestly
Then it Is up to the investor to deter
mine for himself whether he wants I
bet or stay out of the game. Unde
the Blue Sky Law he will know tha
4 he has chance. but he must remem
e ber that under the law he still take
$ chance.
n Opposed to Deceit.
t Here is the intent of the law-Hon
C esty. Had there been no dishonest.
s no deceit, no falsehood and no frau
e there would have been no Blue SIX
a Law. Such statute would have bee
/, superfulous.
s The people of Oregon, young as tn
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31

What Is the Blue Sky Law? II Ia
aA instrument OF protection to the in
vestors of the state. It Is a barrier
placed across the path OF fraud am
deceit II is token OF honest deal
ing between man and man. a promise
of fair play. an exponent of the
square and the honest deal.
Why is the Blue Sky Law? It is be-
cause OF the unprincipled greed OF
man, careless OF the misfortune of
others in his mindfulness Of his own
content. 1t is because too many men,
entrusted with the money and the
hopes of others, have proven untrue
to their trust because the voice Of self
profit has been louder than the voice
of conscience.
What will be the result of the Blue
Sky Law? Its result will be that the
unprincipled promoter. the dishonest
broker, the fakir, the fraud and curb
stone dealer in wildcat securities will
find Oregon less OF a vale OF hope full
filled and more of a garden Of Geth.
semene.
Since the Blue Sky Law deals with
the corporations, with the regulation
Of. and the supervision, over the is-
suance and the sale OF Its stocks
bonds, and other securities. let US
look at the corporation. its place and
Its purpose.
No one can remember the time when
the lawyer and the judge have not
been engaged in the task Of framing q
clear and all embracive definition OF
q corporation. No. person has ever
surpassed the effort of Chief Justice
Marshall when he said that "a cor
poration Is a being, invisible. intan'
gible and existing only in contempla'
,ion of law"
corporation is a child OF the leg
islature, born of its statutes and ODE
dent to them. 1t has no power that
the statutes does not grant. 1t has
no right that the law does not bestow
It is a statutory being, endowed with
many OF the powers, the rights and
the privileges that an individual ordi
narily wields, and possessed of the
capacity to do those large things. be-
yond the scope OF the ordinary man
lHCii, tut 30 o''HfiS N'''
creature of the law, by and through
which many men can act as a single
man in the transaction of n particular
business or class of business. This II
the basic idea, the transaction OF bus
iness. No corporation is formed FOL
any other purpose. The Fundamental
theory is to do something. to develoI
something, to produce something o
value to the stockholders and t. th'
advantage of the public generally.
Corporation Honesty.
Corporations are as honest rs IN
men who create them. My experienc
and my observation has shown m
that the big majority OF Oregon mel
are honest men. II would follow the
that the big majority OF Oregon cor
porations are honest corporations
do not understand that the Blu
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31

suit you with--yet that blase gent
will inform you that you have a per-
feet right to back those deuces with
your whole stock, IL you are foolish
enough to do it. Why? Because you
are betting your own hand. You have
chance to draw. and four deuces
have been known to beat aces full on
kings, a drunken sounding hand, but
patent. More than that, when the
holder of the Attle ones shoves his
sacrifice to the god of luck into the
game, he knows that he will have a
chance to draw, and chance to win
and he thinks he is going TO get his
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31

600 gamble. why the promoters OF a
corporation can expect to borrow of
a band of stockholders two or three
or ten times the value OF the basic
proposition he has to offer those who
invest in this securities. No corpora
tion has the right to drown it's stock
holders with a saturated solution OF
stock certificates.
Speculative Investments.
But what about the speculative in
vestment, the development of the pat
ented article, of problematical value,
the opening of the mine of unknown
worth. All patents have to be pro-
NOTED, all mines nave to be developed
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31
Mop Showing Urnatiila Irrigation Project

do not believe the legislature has
any right to legislate against honest
and Legitimate speculation. 1t is the
God given right of man to take a
chance. II he wants to invest in a
gold brick that is his business, If he
knows he is buying a gold brick when
he puts up his money.
If you will hunt up some blase per-
son who knows about the gentle game
of poker, he will tell you the deuce is
just about the meanest card In the
deck. He will also tell you that a
pair OF dueces is just about the most
discouraging hand the dealer can in
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31

Chicago, 1ll.-Fate made Tillman
Reuter- the Burbank of the Dry
Farming World" About ten years
ago he left his home In Evansville.
Ind. broken in body and spirit. and he
went west in quest Of health. He not
only found health. but won wealth
end fame as well. He located In Gen.
trail Oregon and pioneered 1t as cul-
tivator Of the dry farming variety He
worked wonders, growing everything
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31

to build during the past year, his ono
story bungalow costing him about
$4,000.
These are only a part Of the many
houses built during the past twelve
months and indications are that DUR
ing the year 1914 the building activ-
ity will be even greater than in 1s1a.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31

in the shape of grains and vegetables
that are produced with more ample
rainfall.
This year at the International Dry
Farming Exposition in Tulsa, Okla,
Reuter-, for the third conecutive time,
swept the boards in competition with
the exhibits Of the entire North AM
erican continent. Louis w. Hill. chair
man Of the board OF directors OF the
Great Northern railway. has installed
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31
WORLD

a portion of the famous Reuter- exhibit
in the Great Northern railways booth
at the United States Land Show. which
opened November goth In the Chicago
Coliseum. Reuter-. meanwhile, is too
busy getting ready for his next years
crop to attend the Chicago how. He
is out to make It four consecutive
worlds championships" by improv-
ing his next dry farming congress ex-
hibit
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31
The American National Bank

American Nhonl Bank
anienphe
NpHN sawIs CnndI kVals
hpnlo NoONom
nns Aarsnt
nanyo other
icing rm@sb bank EserOr
in is W lpeIeand ndisp
hd 1aefh fhionn
np h
nt nng.
rfMv Mhel by
and
ni dts
hl cd Ni m
grow o N dI sine Aun'e@
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31
1918 HAS BEEN HEAVY BUILD
ING YEAR FOR PENDLETON

CONTINUED from Page %
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31

President, W. 7. Thompson, also President Of the
Bank of Helix President of the Oregon State Bankers
Association and the representative of Eastern Oregon
the Panama Pacific Exposition Commission
VicePresdcnt, +. Z. Judd, formerly manager of the
Pendleton Wool Securing Mills now devotes his entire
time to the bank.
Cashier, J. B. McCook, former Iowa banker having
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1913-12-31

joined the executive force in 1911 after severs, ~ f
successful banking experience
Assistant Cashier W. s. Badev formerly with tbs
Commercial National
-, The following well known men, J. n Burgess Thom-
as Thompson r n Stanfied. A. d. Sloan, w L. Thomp.
son, f. f. Judd, j. B. McCook. comprise the Board of
Directors
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-26

the superintendent agreed TO aid him
in getting counsel.
II know of a young lawyer III New
York who would be the very man TO
handle this case now" Anhut, on he
witness stand. will quote DR.. Russe.l
as having said, according 70 Mr.. Beare.
Beare added that Dr. Russell suggested
Anhut TO Thaw and Anhuts retainer
was the result. Thaw had called of
his plans" and Anhut had ceased TO
represent him for some time prior TO
the development of the bride story
before the Governors commission, il
was said
In the opinion of some persons "ho
have been close TO Thaw at former
proceedings, Thaw might readily have
offered a large sum TO anybody who
could convince him that his release
could b. obtained. These same persons
do not believe, however, that Thaw
would resort 10 bribery, as he has al
WAYS shown an invariab bic determsrd-
ton to keep at IT, until he had OBJ
tanned his liberty through the courts
and had the stigma Of insanity legally
removed While he appeared to be
greatly discouraged when Justice
Keogh denied his latest writ at White
Plains last summer, lie expressed HIM
self at the time as confident that some
day he would obtain his release 10y SIM
liar proceedings.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-26
EIGHT WIRELESS STATIONS
J. G.. White Engineering Concern
to Begin Operations Soon.

The programme OF enclrcling the globe
by Msrconi wireless telegraph system
Will soon be under way through the es-
tsblishment Of eight new sub-stauons
which will be erected by the J. q. White
Engineering Corporation. Referring to
the Importance of wireless telegraph as a
peace influence. j. @. White. chairman OF
the finance committee said:
II believe that with every additional
wireless station We are one step nearer
universal peace. The cable systems
have had more TO do recently with
peace than any other single agency
except printing presses, which are
fed by the cables. The peoples of the
world no longer have to wait for weeks,
during which there is time for their pas
sions TO become inGamed, TO learn the
attitude of another nation in an interna-
tional controversy. \ prompt answer
almost as much as a soft answer turns
away wrath. especially when you are
dealing with peoples and not individuals
In South America the wireless STA
TORS in Brazil VIII Tie the central gov
eminent To its remote provinces where IL
has been found impossible TO MAINTAIN
telegraph lines through the Jungles ana
the desert wastes"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-26
LANDLORDS LOSE ON CALLS
West Side Owners Open Cam
paign for Cheaper Phones.

owners of apartment houses who are
members of the Washington Heights Tax
payers Association opened a campaign
Yesterday for cheaper telephone service.
At a meeting Yesterday afternoon of the
committee appointed to Investigate
switchboard charges it was asserted that
the apartment house owner is, a heavy
loser under the present system. The re-
ports showed that owners pay more 70 the
telephone company than is paid by the
tenants: the telephone cOmpany's rental
charge for switchboard and extensions
after two years of installation pays the
company 100 per cent profit: when the
Landlords refuse 10 pay overcharsed bills
the telephone service il discontinued and
an Investigation follows.
I'm respect 20 the latter complaint Col
lin H. Woodward, chairman OF the meet
ing. said this procedure should be re-
versed the company first investigating 10
learn whether the charge is correct
The committee will embody it's findings
in report and present it TO the officers
Of the telephone company within a fcw
days.
II WAS said al the meeting that under
the present system the actual cost TO the
landlord is from 70 II cents a
call This is due. the landlords say. 10
the charge OF s214 year for switch
board 81 for each extension, calls charged
by the company where Busy or Don't
answer" is reported by the central oper-
ator and the cost Of from 50 10 so a
month for a switchboard operator The
owners charge the tenants five cents a
call An aggregate loss OF $500 a year 10
landlords through these causes was a CON
servatiV. figure, il was asserted.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-26
STRIKE LEADERS IN JAIL
Miss Flynn and Tresca Not Wei
coined in Paterson.
SILK WALK-0UT CRIPPLED
Few Workers Answer Call OF
Agitators, and Police Is
sue Warning.

Paterson. y. j.. Feb. with Eliza
beth Gurley Flynn, Carlo Tresca. and
Patrick Quinlan. three Of the leading
orators Of the T. w w. confined in the
county jail. unable TO furnish $1,000 bail
each. upon charges of melting TO riot.
the strike against the adoption Of the
four-loom system in the silk industry
which started yesterday morning appears
10 he broken.
mass meeting which was to be held
in Turn Hall tonight was called off when
Chief OF Police Bimson declared the hall
closed yesterday afternoon. The proposed
general strike proved a dismal failure
so far as Gripping the silk industry was
concerned as the strike resulted only I'm
the calling out of a comparatively small
percentage Of the veavcrs in the large
mills. while the dyers took absolutely no
part In the strike.
From cell In the county jail tonight
Miss FLYNN made the following state
ment:
Il do not think the -authoritics acted
legally in arrestins nae and my coI1-
panions but I an not At all worried ~
10 the outcome. We said or did nothing
which wculd tend 10 incitc 10 riot but
nevertheless. presume that the police
authorities had the authority TO pat Us
in jail or otherwise we would not be here.
7 welcome the rest which my present
confinement affords. and am in no
hurry concerning the supplying Of bail
Tor mo. which am satisfied will DC
forthcoming in proper time
Both Quinlan and Tresca expressed
themselves a. wei, satisfied with their
present lot.
chief Bimson made the following state
men;. Paterson has suffered cOrcd-
erably in the % Il through the workings
OF out-of-toun agitators. whose only
motive in .fomentins trouble is their own
personal gain. but | wish 10 say that
such days are past. These agitators have
the interests Of neither the workers nor
the city at heart. but are actuate1 pure
ly ana solely by = desire for their own
gain. To all such ] wish 10 say that they
had better give Paterson wide berth in
the future.
Samuel Kaplan. another l. w. W.
leader. took the first train out OF town
when the police told the strike fomenters
10 get out or go 10 jail. The mill hands
say William p. Haywood. the labor aei-
taror. is soon TO come here The police
have sworn in special deputies to cope
with disorder should Haywood come.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-26
HERE ARE THE MODEL INEXPENSIVE DRESSES
ON the left business suit the right the Afternoon
cost $40

French whether IL !. becoming or not
The girls who attend this school amaze
me by the talent they show Tor ind!-
Viduality and charm Of lire; but. alas
they go away from here INTO their own
homes. II they would only 30 into bust
ness they could do wonderful. things for
poor. deuded American women
"In America the dressmaker Is despised
The little country dressmaker feels this
and shrinks away like a kicked dog. In
reality. there are more skill and kno"l-
edge employed in the dressmakins busi-
ness than in almost any other. When the
public recognize IL a. an. art. the dress
maker VIII come into her own.
TO make il an art. however. the DC
signer must study the individual who IS
to wear the gown She Will. not put a
square yoke under heavy. square-Jawed
face She won't give the round, moon
faced sirl round woke. Any girl can
be made pretty by studying the style that
suits her. and cverv sr owes IL 10 her
self 10 wear the thing that Is becoming
whether it IL fashionable or not
Yes, IL collariess dresses arc becom-
ing. a girl should wear them, even to bust
ness Il IS the girl who looks pretty who
succeeds In business. .stt.
yes. | advise the American girl TO
make her own clothes. She can. suit her
own style ANY nome made dress is bet
ter, than a cheap dressmaker's work or a
tswdry French gown tha; doesn't suit.
Besides. homemade gowns are cheaper.
This one cost only Slo. You couldn't by
II for si5.
Miss Sorenson who says she gets her
talent from her French mother and her
independence from her American father.
was wearing herself model American
gown. 1t was OF PLAIN blGe serge. 1t cost
90 J1-s, ~ for the serge and 81 for patent
leather belt and collars and CUFFS Of irish
lace. The low neck and short sleeves
were specially designed. because long
sleeves and high recks aren't becoming
20 Miss Sorenson.
Another little frock on exhibition was a
black silk afternoon dress, which cosl
~ 70. 1t was very similar TO the perfect
gown