Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1917-01-29
Dyed-in -the-woOI Prohibition
lists Believe Amendment
Is Losing Chance of Pas
sage at This Session.
BLUE SKY LAW HELD
IMPORTANT ADVANCE
Bill to Regulate Selling of
Stocks With Provision for
Commission Is introduced
by Senator KaSeman.
(By II. l.. ID. McAllister, Staff Corre.
spondent.)

Santa Fe, Jan. 2S.-Prohibitionist
yeau-round prohibitonists-are be.
ginning to manifest impatience at the
delay in getting out of committee in
either senate or house anything re-
sembling resolution to submit to the
people statewide prohibition amend
ment to the constitution.
There are now five prohibition res
olutions pending before the legisla-
ture--four in the senate and one in
the house. Twenty of the sixty days
of the session have passed, and it is
assumed that the introduction of dry
resolutions is about at an end. Also,
committees have been organized and
are at work. But if there is any
out of committee in either house or
senate any time in the near future it
is not apparent on the surface.
Some of the drys are peeved, and
planned for the purpose of Gripping
the chances of prohibition at this
session. House and senate leaders
have been made rather uncomfort-
able during the last few days by the
opportunities of those who can't see
why something hasn't been done. The
p~esenr week IL likely to see some de-
,elopmelits iii the prohibition situa-
ton, but what they will be no one con
prophesy at this time
Blue Sky Bill.
No more important piece of legis-
lation has been brought before New
Mexico legislature in recent years
than Senator Kaseman's blue sky
bill, and additional interest attaches
to the bill at this time by reason OF
the fact that the supreme court OF
the United States has just affirmed
the constitutionality of this character
of legislation in a decision the terms
of which affect, directly or indirect
ly, the laws of more than thirty states.
Senator Kaseman's bill is an elab-
crate measure, covering fifteen type
mission to be known rs the New Mex
leo Securities commission, whose du-
ties will he to administer the provi"
sions of the bill when it becomes law.
The commission is to consist of the
state treasurer, who is made ex-officio
chairman. the travelling auditor, and
the attorney general, and its office is
to be maintained in the state capital.
1t is required to hold regular meet
ings on the first Friday of each
month and TO keep record of all
A secretary of the COM
mission is to be appointed at salary
of $2,500 a year.
Exemptions Provided.
The following securities are eX-
empted from the provisions of the
act: (a) Securities of the United
States or any foreign government or
any state, territory, county, municipal
district or other public
taxing subdivision (b) unsecured
commercial paper; (c) securities of
state or national banks or trust com
panies or building and loan associa-
tions of this state Id securities of
any domestic corporation organized
capital stock and not for
pecuniary gain, or exclusively for edu-
cational, benevolent, charitable or re-
purposes; (e) mortgages
on real and personal property stu
ated within this state where the en-
tire mortgage is sold and transferred
with the note or notes secured by such
G) increase of stock sold
and issued to stockholders, and stock
dividends; (g) securities listed in any
standard manual of information ap-
proved by the commission.
1t is required that before any
Continued on Page seven.)