East Oregonian : E.O. (Pendleton, OR) 1888-current, 1914-09-24

ministration OF the states business.
This bill Is in violation Of this funda-
mental principle OF sound business
judgment
Legislative BlaclmaiI.
The bin is on the ballot because the
corporation commissioner refused to
grant a permit TO the Mutual Fire
company of Portland for the sale of
100000 81 bonds H. n. wagnon of
Portland. vice president Of the COM
pany. made application for the per-
nit. The company haj no tangible
property assets. The report OF Paul
/. woolSton. an expert actuary, shows
that on October 81, 1913, the total
liabilities Of the company We're sS44.-
. in excess OF its admitted assets.
There was no basis for an issue of
sIOo,00o of bonds and the permit 10
issue them was refused. Wagnon asked
FOR a rehearing. and at its conclu-
sion. the permit was again refused.
Then Mr.. wagnon said to the cor
poration commissioner. II that is
your final decision. will instruct my
attorney N once To draft an initiative
bin abolshing your office"
Fair-minded voters OF Oregon,
friends and well wishers OF the ore
gon system. should not countenance
such prostitution of the initiative for
the qualification of petty spite and
personal malice, II is too sacred
weapon to be used in so base a cause,
To enact the bin would be to say
that a public official OF the state,
bound BY his oath to sustain the law,
must do the bidding OF the wild cat
ter and the floater Of watered securi-
tics. contrary to his oath and his con-
science. or be removed from office
by the voters of the state. The pres
ence upon the ballot OF a measure
such as this. born of petty spite and
personal venom, is an affront TO the
dignity of the initiative ballot, an in
suit 10 the integrity and fair mind
edness OF the voters Of the state In
ability to punish the perpetrator OF
such a fraud ought to make douoiy
sure the defeat of the bill
! Would Not Consolidate Departments
The bill. If enacted. would not con-
solidate the corporation and insur-
ance departments. Its only effect
would be TO substitute for the corpora
ton commissioner a deputy insurance
/ commissioner. The Insurance and
corporation laws would not be amend
ed harmonized or articulated, and
I the state would see a 'Consolidatei
/ Commission with two sets OF en-
ployes two sets of books. two sys-
/ TENS of receipts and disbursements
and two funds into which the fees
should go. II would be department
partlv sustained by a legislative ap-
i propriation Of $4,000 per year. and
}! partly BY fees collected. To Keep a
record Of the receipts ani disourse'
ments the secretary of state woule
he compelled to keep four ledger ac'
counts. two more than necessary ane
this would also be true in the stat'
? treasurer's office. The bill. II enact
: ga into law would therefore be aoor
= five because it would not do tina
which it purports to do.
!. II Creates a New office and Depart
! ment.
. The bill on the ballot creates tn
t, new office of state fire marshal IN
, legislatures of 1909 and 1911 refuse
To enact such a law because of IN
added expense to the taxpayers OF tn
: state The legislative bills provide
for definite annual appropriations Q
$4,000 for the maintenance Of IN
I
appropriation to maintain the de
partment now than two years ag'
The state Of Ohio paid s7O,si7.4
last year to maintain the fire maj
shal's department: Minnesota $50
600: Kentucky. $4,000; Maine SO
goo: Marylani.' $4,000 and soui
Dakota $s.2s7.50.
Those who favor the creation
fire marshal in Oregon favor Il
machinery OF the Ohio law, the mo
expensive in the United States
Would Cripple the Blue sky Law.
Oregon has today the most effe
tiyelv administered blue sky law
: the United States Amended by 4
coming legislature in some slight a
! mlnlSIrauFe particulars ~ "N -
sess the model blue sky law of t
/, United states.
The administration OF this law
a big task. separate and distinct iro
the work OF any other department
state II should be under direct
peryision OF one man required to 81
his entire time TO the workand ne
= responsible for 1t. II should not
IS this bin provides be put into the nan
& of a deputy commissioner.
:, Busine@s Reasons should Cause ca
or -OIldation, Not Personal
,o Malice.
o. II person dealing with any
concern. disgruntled at the ofnc
action Of the superintendent. were
20 20 the stockholders and ask TN
to discharge the superintendent
give hts duties to some other offic
irrespective OF efficiency, administ
tive harmony or operative cost,
stockholders would think that
man was either fool or knave. i
tut L. 4. street auafoR,r Of that con