Alma record., 1915-01-07

| then such diSuse is not true cOnsefVa-
ton The people of this generation
are entitled to the use OF the natural
resources OF the country, but no man
should be allowed TO destroy the seed
whicn Is TO produce the harvest for
the generations to follow us.
The Public Domain Commission,
which mas charge of matters pertain
ing TO conservation in this State, is
doing :, great work along the line OF
reforestation Of the cut-over lands and
the protection Of growing timber from
fire, and would advise that some set
tied policy be adopted in regard to its
work. and that a continuous and ac-
1 cumulating appropriation be made so
that the results of the work now being
done may be protected and perpetu-
atcd.
Blue Sky Law
The last Legislature passed a law
to regulate the sale of securities in
this State and created the Michigan
Securities Commission Soon after
the law took effect its validity was as
sailed in both the Federal and State
courts. The Federal court held il in
valid by reason of certain of its pro-
visions, and the State court upheld it
in all particulars, although an appeal
was taken from the latter decision.
Pending a final decision, the Com
mission has enforced the law except
as restrained by the Federal court. 1t
has passed upon securities aggregat-
ing $45, 900 900 and has collected in
fees nearly $4,000 1t has prevented
the sale of millions of dollars of
worthless securities and has carried
out the purpose of the act. Al the
meeting of the Attorneys General held
in Washington in October committee
consisting of the Attorneys General OF
Michigan, Iowa and Arkansas was ap-
pointed to prepare and submit to the
legislatures Cf the various s ates of
the nation a new bill, which will, so
far as possible, meet the objections
to the validity of the present act. This
bill will be submitted TO you. and |
earnestly recommend its enactment
into law.
In this connection | call your atten-
tion TO the corporation laws OF the
State and suggest their amendment as
one of the means of preventing fraud
in the sale of stocks. Under the pres
ent corporation laws only 1870 of the
authorized capital of the corporation
is required TO be paid in. Parties
turning in property 10 corporation
fix their own values in their articles
of association. | recommend that no
corporation be permitted TO organize
unless at least 500 of its authorized
capital be paid in. and that when prop
erty makes up any part or such pay
ment that an appraisal OF such prop
erty be had by some officer OF the
State.
Public Utilities Commission.
We now have a Railroad Commits
sion which is given the power to fix
rates and regulate the practices Of
railroads. telephones and power com
panies. / would recommend the en-
largement of the powers of this
Commission TO cover all public utility
corporations of the State. Further
more, as there can be no intelligent
fixing of charges without a knowledge
of the real value of the properties, |
would recommend that the Commits
sion be authorized to make physical
valuation of all such properties that
they may deem advisable, that the
rates fixed may return reasonable
dividends on actual cash investment.
Industrial Disputes.
In magnitude and Duration the
Michigan Copper Strike Of 1914 was
one OF the greatest that has occurred
in modern times The cost to the
State, the cost to one Of its greatest
industries, the cost to labor, was enor-
nous. The duty of the Governor was
, simple and clearly defined. Not a
single life was sacrificed through any
action Of the Michigan National Guard,
- IL Inr - 81 I1r I'd ttf
fered at the hands of the strikers.
, The laws OF Michigan for the protec-
|, tion Of life and property were enforced
in a manner that reflects credit upon
the entire State. Capital and labor,
however, are mutually dependent. The
; fact that the Federal Government. up
to the present hour, has not been able
: to enact a mediation law satisfactory
to either capital or labor, indicates the
, gravity of the problem Sooner or
, later the principle of cooperation
) must be accepted and adopted. To the
= end that the best interests of all may
Z be conserved, ! suggest the creation
of court of inquiry composed Of the
, Circuit Judge of the circuit where the
+ industrial dispute arises, the Governor
: and Attorney General of the State.
y on the nomination of the parties in
+. volved; or board composed in some
!. other manner, which shall investigate
} the matter in dispute and make a pub
lie finding thereof, with such recon-
p mendations as they believe are war
ranted to secure justice for both
. parties. 1t is generally admitted that
I compulsory arbitration is impractical.
S In the light of legislative experience
' little more can be accomplished than
= to focus public opinion upon industrial
: disputes.
The Workmen's Compensation Law.
= This law has been in operation a
little more than two years; ii has,
= therefore, had practical test. on the
Y whole, the results have been highly
satisfactory. | make the following
e suggestions with reference TO amend
{ ments:
First: There should be a provision
r. added to the law covering under