Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-03-09

commissioner if there had been any
complaints in regard to fraudulent adj
Vertlsements. He said the Boston pa
pers are allowed to carry this financial
advertising, which the Maine papers
would not be allowed to carry under
the proposed bill. ut seems that about
as soon as man comes into this Office,
said he, he tries to do something to
get raise in salary. How can a man
IN this office pass on any such matter?
This is financial matter, and it re-
qulres years of experience to deter
mine what to buy in securities. I have
found that every man that gets an Of
fee in this State House begins raking
up some plan to put someone else in
bad'-anything that means more
money. The State assessors are study
ing up something all the time, so that
an extra burden Of taxation may be as
sessed against the public. This act is
Mr.. Vernon's own personal idea, and
no evidence has been shown that any
harm has been done by Maine news
paper. l defy you to find one man who
has been injured through any such adj
vertisement in my paper.
These are hard times in the publish
ing business: paper ink, the cost of
operation, and everything connected
with the output has doubled since a
year ago. This man (the bank exam
iner) has been in Office a little more
than two years. and he hasn't had time
to make a study of financial affairs.
Maybe next year there will be a doctor
in this office. or dentist-you never
can tell who will be appointed bank
examiner, and their sole idea. seems to
be, if they can make their office suffi-
GENTLY important, they can get raise
of salary.
Are YOU in favor of the present law"
asked Mr.. Vernon.
Whether l am or not said Mr. Bass,
I've got to stand it. And" pointing
his finger at the bank examiner, II
don't believe you know what you're
talking about. 1 say this not meaning
to be abusive but it looks to me as if
you want your salary raised. The
cleaner in the country. You can't pre-
vent. by legislation, a man who wants
to gamble" he concluded.
Rep. Allan Of Portland at this point
said this advertising without restric-
being taken out of the State through
this fraudulent advertising Of which he
had professional knowledge He said
client of his had invested in GER
tain stock which was worthless and he
read the ad. in a Portland newspaper.
Charles F. Flint, business manager
of the Daily Kennebec Journal of Au-
gusta, said his paper was not publish
ing any thing vicious and that it stood
ready to reimburse it's subscribers If
the advertisements We're not as renre-
scented. He said this was an attempt
to discriminate against Maine papers
and that Maine papers were az clean
as there were in the United States. Il
believe it is an insult upon the integrity
of Maine papers," said Mr.. Flint and
went on to say that after the bank
commissioner saw what opposition had
developed he had taken back water and
offered an amendment.
Frank B. Nichols. vice-president of
the Maine Press Association and pub
Usher of the Bath Daily Times, was
asked to speak by Mr. Bass and he like
the others believed this was discrim-
ination. He said the Federal govern
ment was expecting SO much of the
weekly papers now that If high prices
and exacting legislators keep on. it will
force some of the weekly papers out
of business who cannot stand the strain.
Former Bank Examiner f. E. Timber
lake said that he wanted the committee
to know that no man connected with
the commissioners department had any
thing to do with the blue sky law and
he always found the newspapers ready
to cooperate in everything when he
was in charge of the office
George w. Norton. editor of the Port
land Evening Express-Advertiser, said
he did not believe in this censorship
being established. He said it meant
larger burden for the paper to carry
and was unfair to restrict Maine papers
with so many Boston dailies coming in
daily
MIR. Vernon called attention to the EN-
erson Motor ad which had defrauded one
person out of $500. He said this ad ap-
peared in Portland paper and many in
vestors hungrily bit at the bait and y
was this kind Of advertising that the
present act would take care Of
Arthur G. Staples, editor Of the Lewis
ton Evening Journal. said no paper would
be party to any fraudulent scheme He
said last summer when the house of
Morgan & Co. was placing the big Anglo
French loan they wanted to place some
of the advertisements in Maine papers,
but they were not registered with the
bank examiner and as a result they
would not come into Maine, and Maine
papers lost $4,000 through this alone He
spoke of the position in which the pub
fishers were placed. the high prices OF
all that goes to make up the operation Of
getting out newspaper. He was op-
posed to this bill but did not object to
the blue sky lam. He said the bill as
presented now is humiliating to Maine
publishers, who have always lived up to
a reputation for honest dealing.
Mr.. Bass said In rebuttal that the bill
was wholly uncalled for unnecessary and
that Maine publishers were unalterably
opposed to it. This closed the hearing.
Rep. Charles E. Quincy Of Portland ap.
peared in favor of an act relating to loan
and building associations and said the bill
was simply to allow. loan and building
associations to own so instead of Is
shares and to increase their borrowing
capacity to $4,000 instead Of 5000, and
would create greater opportunity for
business as many times they had calls