Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-07-07
R[PASS Blue SKY LAW
IOWA LEolsLAruRE PROBABLY
WILL ENACT STATUTE TO
STAND COURT TEST.
DECISION or COURTS WILL
BE GUIDE FOR FUTURE
Whom Law Was Passed Lssislaturs
Had Little 70 Serve 40 ouids-Ques-
tions Before iowa Supreme Court
Not Passed Upon by Federal Judges
State Capital News.
snec,ay "a r,mea-Republ,can.

Special to Times Republican.
Des Moines, July Now when the
state supreme court has also filed its
comments and conclusions on blue sky
legislation. and the decision of the fed
eral judges has been reviewed by an
appellate court, and perhaps the whole
ssnatter comes out of grist at the ma
t!onal capital, the legislature OF Iowa
>will NC in a position to do some legis-
i1ation against fraudulent Investments
that will do good. It is up to the legis-
!ature 70 mcye.
It was acn1itted by most Of the legis-
iators when the blue sky legislation
was under consideration year and
naIf ago, that there was little to guide
them as to how to get at what was
wanted. Now with the courts telling
what is wrong with the experimental
legislation, a better Job may be done.
There is no doubt in the minds OF
the state officials and others who have
the matter under consideration, tina.
there will oe some effective legislation
against hoating questionable paper on
the investing public in Iowa. The
principles Of the blue sky law are pop
ular with the people.
In the decision by the federal
judges, the rule in the Michigan de-
cision was followed. The law discrimt-
mated and violated the interstate COM
,merce rule. Legislators assert that
1t will be possible to change this and
set !sw that does not discriminate.
vBut for the present the law is dead in
rowa.
The Iowa supreme court, however.
unas the same law under consideration
and 10 expected to render a decision
which will have some bearing on future
'.1egislation. There are questions before
the supreme court that were not
passed on by the federal judges.
The state board Of control will this
week award coal contracts for the in
stitutions under the board.
Bids have been received for furnish
ing coal at each and every one of the
state institutions. The number of bid
sders is larger than usual. and this is
true especially % to bidders from the
Iowa mines. There are, however, bids
for many Of the institutions. from deal
efs outside the state.
The conditions under which the
awards are to be made are substantial
IL AZ in the past, the contracts to be
let on the B. T. U. basis, which takes
account Of the quality Of the coal as
well as the weight.
State Treasurer Brown has received
from the cashier OF the big National
City Bank, Of New York, a letter maxi
ing inquiry as to certain alleged OUT.
standing bonds Of the state of Iowa.
The inquiry is as to certain $500 bonds
issued in January. 1869. bearing 10 per
cent interest. The question is raised
by foreign correspondent OF the bank
and the bonds are said to belong to an
estate.
Deputy Willis Immediately answered
the letter by stating that no bonds OF
the state Of Iowa bearing 10 per cent
were issued In 1869. according to the
records Of the Office.
Just what the letter could mean is
not clear. It is possible that what the
client has is some bonds Of some coun-
~ Of Iowa issued at that time, which
bonds have been repudiated and found
to be fraudulent. But they are GER
tainly not bonds Of the state, for all
bonds Of the state were Cancelled more
than twenty years ago and not dollar
of bonded Indebtedness has been in
Cured by the state since. There was
a floating Indebtedness of near mil
lion dollars some years ago, but no
part Of It was ever funded.
There seems to be prospect. tho it
Is not yet certain, that the grievances
OF the people residing along the old
Keokuk & Western division of the
Burlington will be settled by the COM
.pany putting on second passenger
train. The last time the matter came
to the attention of the railroad COM
mission it was found the cornplainants
had not made q start toward case.
having entered into an agreement to
abide by results Of trial train. Then
the commission took it up independ-
emily and Colonel Palmer has been
working quietly for settlement by
agreement. He reported from Chicago
the other day that train will be put
on next week. Whether this means
permanent train or not, is not known
here; but there IL great hope that the
Burlington will agree to have the train
service increased on the branch line
without the necessity Of the commits
sion issuing an order.
FEDERAL WORK INCONSISTENT.