The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1913-01-06
AN ATTACK ON
Blue SKY STOCKS
Measure w5fE se Izsresuees In The
Sat. Legislature - Senator
H-heer a ottrn~a. Resu
istsas sale = stoeks.
LIKE THE KANSAS Law
insarzHe. Commissioners q ne vzrs-
1as States D-rss-s 70 TAX.
- she ou-ssSSn ard Run
out FAKE Concerns
LIKE THE KANSAS Law
Especial TO re Gate es+r1


- e ne trsse Cz5El
-, 1865, s-1N IA ssa-
81 - Meno tfEnEz =
lzaA.-z % ESE1ey II ne upper house
{ Y l aszre measure
- 4 y Net AZ Re demands
- - rs-s-RsF eecoH1s popular for
- go e sais q wo-Ta-
- - - - = toEa are
za5tnE aEaT hE.ndreds Of thousands OF
n.tex $3.50
re- $1,000. ~, -
fs-ss rse -. Ys-s-s-. - s. = =.
t-se< $500 : p.o .'sss =
-
e2-sa efEcEa Sacas O. as
s----a.1.s e-sass @ sell sTocks,
-. Is rs1-=A'ess q 5rogesEy. EnsTe
- sa-A g PAM 10
- l-'1Ss e u5der state sHpervts-
-.
"a oes0rs any such CEN
s-- - olsE ar s.ca stocks OF
- s. q soF sass ~ rs Plans. IN
=. - I@e1z nssHssds and work-
-. - !. ITssehEee % s1ca d.
- = - s-s as Ias teg1sla-
- ss Il % eaoSns with sueh
-. o-s-0' ne executive
- = - a1aisos
- s1e1 ef'lpen1es Enst
sW :. g aeso-I Fata sueh
-. - - Alen EA enabls any
-. = Mig s'1iE against the con-
49, = 2ocs lgoa me state
80
a-sSo advertisement o. circu-
aar q suF kind i 10 b issued 81 any
SUCH promotion eoEra1T Without first
lzEiag fled the sane With the state
cfnciaE charged wtrh tEe duty Of haF-
lag Z approved By him.
Eiffh-IAe AFT viii also provide
Tat al s-0css, bonds or other secur-
ises sold EF such companies shall
Specifically state IN their contracts or
Y their applications for contracts
sfsa1 psr Of ire purchase price shan
II used for promotion purposes.
sszSa-Ths seE VIII forbid sny such
COMPANY from gtTiag commissions or
1 any ether valnsble consideration to
aHg person in the Regulation Of such
Stocks vho a not rezularEy licensed as
promotion agent This section viii
prevent the promoter from picking
fhs Influential citizens d a commun-
+ IT. and paving him commission for
fae purpose OF fleeing the balance of
the community.
seFenth-The bill TiIi rrovide that
the state department In charge shah
have the right TO examine into all he
affairs and financial conditions Of such
companies.
The bill viii further provide that
eyery person soliciting stock subscrip-
ticns must be licensed BY the state.
Criminal py1aishnents viii probably
be provided for violation OF the act
further restriction that has been
suggested is that no publication in
the state shall be permitted to accept
advertisements Of foreign CORPORA
tionz not licensed under the proposed
act to do business here.
Then il is further suggested that
publications containing advertise
ments of such unauthorized COMPANIES
be not permitted sold at news stands.
Iowa Is not alone in It's attack nm
Blue Sky stocks. The suggested hin
takes up many OF the phases fucor-
poTated in the present Kansas Law.
Realizing the magnitude to which fake
companies have operated the INCUR
ance commissioners of the various
states al their last annual gathering
late in the summer decided to encour-
age the passage of law similar to
Kansas in every state in the nnion
Iowa, not having a separate insurance
department has no commissioner Tho
work OF the commissioner in Other
states is here done BIZ the state aud.
ftor.
1t Is authori4atiyely stated that dur