Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-06-25
SUPREME COURT HITS At coNol'
TON STATUTE is AIMED TO
PREVENT.
SIGNAL COMPANY STOCK
SALES FOR LARGE AMOUNTS
Lockard For Second limo Fails to
Secure Relief From Sentence Which
Was chanoed From Twelve Years to
Life-supreme Court Finishes First
Half of Years Business.
pecial to Times-Republican.

Des Moines, June 25-While the state
and federal court are still playing niue
and seek with the blue sky law, the
supreme court yesterday just as 1t was
closing I'D summer work, gave nara
hit al typical example of what the
blue sky law is aimed to prevent IL
was a case in which a bank in Ham
ilton county sought to recover on notes
purchased by it which were in tact
given for stock in the Stotts sigma
Company and there VAS resistance TO
paN!uent because of fraud and deceit
ana general swindle. The reversal was
because the lower court erred badly IN
instructions as to the right Of the com
pany TO do business in Iowa. But the
main point was that the company
claimed to have a factory in Marion
but which never turned out any pro-
duct. The company had been ORGANIZED
under Arizona laws with 100000 au-
thorized capital and 100000 had been
issued TO Stotts, the promoter, for what
the court calls patents of no apparent
value. The company did not show IT
/
but did pretend to do business in Iowa
Yet the stock was being sold TO Iowa
investors. This is the second suit thru
the supreme court involving the tran
sactions or the same blue sky concern.
If the new Iowa Law should prevail
such transactions would lead directly
to the penitentiary.
No Relief For Loekard.
- court
refuses to give any relief TO Charles
| Lockard. of Fayette county, who COM
planned the judge made a mistake in
| sentencing him to twelve years instead
! of to life. for assault on girl. In the
previous hearing the court rectified
| this little mistake. Then he challeng-
! ed the correstness of the court record.
| but the supreme court says this can
not be done on a habeas corpus pro-
ceeding and it is up to the parole board
70 decide whether Lockard stays for
life or gets out He claims he was de-
/ cetved as 10 what sort of a sentence
he was going to get when he pleaded
| guilty.
| Two Plymouth county men. James
i Deviney and James Gardner. have
asked the supreme court to revie"
/ their cases. They got b-year terms II
d prison for "resorting to house Of IL
fame" which they think is a pretty
y stiff sentence.
The supreme court has now virtual!
II closed business for the first half o
the year. save that a meeting VIII b.
!, held later for fling the opinions no
yet out of the way. Never before ha'
the court been 30 ready to decide ques
! lions close I'D to the date Of SubMis
sion. The order for the Septenhe
term is for submission of all matter
filed prior to March is.
Law Due For Trouneina.
The next law Of Iowa slated for
trouncing in the courts is the on
. which undertakes to shut out the tran
sient merchant who comes along Wit
fire sales bankrupt stocks. etc.
The other day business man
Knoxville, who also operates stor
q IN Des Moines and one or two others
incurred the hostility Of competitor
by rate cutting or otherwise and. o
Y the theory that he was Offering
bankrupt stock. or doing transfer
: business Of some kind tnformatio
was was fled against him with III
county auditor requiring him to put u
the $1,000 bond which transient an
new merchants have to file. He re
fuses. He says T. he goes to jail fo
IT. that will be the best advertiser
, stunt he knows of and he'll sci, IL
! of good on the strength Of it He wi
rel, the farmers he had such bargain
&, his competitors couldn't meet him an
4 other way than to send him to jail.
pu> he has retained lawyers to