The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1914-07-12
BLUE SKY LAW
THRESHED OUT
THOROUGHLY
THE DECISION OF THE SUPREME
COURT THEREFORE LEAVES
NO ROOM FOR FURTHER PRO-
CEEDINGS.

oTiLAlA1J j - IL j ~ q
Tallahassee, Fla, July III ne Su-
prerne Court today filed AIN opinion o.
more than usual interest. in which it
GphOlds the cOnStitutiOnality Of what
is known as the Blue Sky Law,
which was enacted at the last session
Of the legislature. The case has been
threshed out thoroughly by AttOr-
ney General r. f. West, representing
the state, and Messrs. Adams and
DurranCe prominent attorneys of
Jacksonville. representing the petit
toner c. II. Taylor for discharge
upon writ of habeas corpus.
A corporation recently organized in
Jacksonville had applied to w. V.
Knott comptroller, and T. +. West, at
torney geerral for permit under the
statute to sell stock of the corporation
in this state, and it apTearG that the
Permit was refused. To test the law,
it is thought. c. II. Taylor was ar
rested for soliciting subscriptions for
stock In that corporation and a petit
ton was Immediately filed in the SUI
IRENE court for this writ IF habeas
corpus.
A hearing as had on.the petition and
the return of J. p. :. Houston. sher-
IF of Leon county. on last Tuesday.
The title of the law in question,
known as Chapter 6422, Acts of 1913.
is as follows:
An act to define domestic and for
tlSn lllNt SluieIt tOiti lilCS' ~ I'N 4bt'
for the regulation and supervision of
same; to provide conditions and terms
upon which corporations, foreign and
domestic. can sell to persons in Flor
ida stock and other securities; TO
place such investment companies un-
der the jurisdiction of the conn trOl-
Ter and attorney general. and to pre-
scribe OFF the comptroller and attor-
ney general certain duties and pow
erS; to provide for the service of pro-
cess thereon; to provide for the regis
ira ton of agents selling securities OF
such investment companies. and to
provide penalties for the violation of
the terms of his act, and for other pur-
poses"
The first ground Of attack upo nthe
statute was that it was not duly en-
acted. in that it passed the senate with
a different title from that by which
it passed the house.
The second ground was that there
is more than one subject expressed
in the title.
Third the subject Is not clearly ex-
pressed in the title.
Fourth. that the statute seeks to
confer judicial powers on the comp
troile: and attorney general
Fifth. that the enforcement of the
act deprives persons Of TrC perry with
out due process of law.
Sixth, that the business affected i
ar improper classification by the leg
islatiVe power.
t,igth. that the act is not within the
police power of the state.
Ninth. that it burdens interstate
commerce.
The opinion was prepared bv the
whole court. and the act WIS sustained
on all the points raised by the peti =
toner.
It is not known whether or not the
company will pursue the matter furth-
tr and take the case t" tho supreme
court of the United States.
A similar law has been passed by
several states. and the constitutional
itv of some Of them is being tested in
the courts, but SO far as is known
Florida is the first one to have the
onstitutionaIity passed upon and up
held by a state court of last resort.