The Duluth rip-saw. [volume] (Duluth, Minn.) 1917-19??, 1917-08-04
THE MARKET PLACE
Facts, Figures and Comment Concerning Lands,
Mines, Stocks Bonds, Men and Matters
That Pertain to the Making of Money.

discretion of the court.
| The Act is long and wordy, there
| fore a complete synopsis would take
| too much space.
No honest or honorable individual
can find fault with laws regulating
the sale of securities. The laws OF
all states and provinces permit the
organization of stock companies and
the issue of stocks and bonds. Nat
urally, crooks and wildcatters take
advantage of those laws to float
worthless and even fraudulent securi-
ties. Laws may hamper but cannot
prevent, any more than they can stop
blind-oigging, theft or even murder.
Fear of punishment may retard and
| discourage, but not prevent.
Denver wildcatters got so numer-
! Gus and fierce that, some years ago,
Kansas passed blue sky law. Other
! states fastened to initiate. Many of
them did it merely to be in style.
Others did it to bring fat fees to
! the state officials or the state treas
ury.
There being no national incorpora-
ton act, companies doing an inter-
state or national business, through
brokers and agents or directly, are
bled. sandba eyed and handicapped
by a wide variety of laws and varia-
lions in fees in the respective states
and provinces. No state law can,
however, prevent an Interstate stock
business by mail.
To legalize nonresident corpora
ton in Manitoba costs several hun
dred dollars for million dollar
company. Ontario has a system
based somewhat on English methods.
1t possesses much red tape but is
logical, fair and quite sensible.
Wisconsin has fairly good blue
sky law. 1t costs corporation SIS
to legalize but brokers are charged
a license of only 81 and that carries
the right to name any number Of
agents or solicitors without further
cost. This law calls for regular
monthly reports as to number Of
shares sold of any security, for which
license has been granted.
1t costs $25 to legalize a company
or its stock in North Dakota. Iowa
passed so cumbersome and exacting
a law that many home enterprises
were badly hampered.
Outside of few centers like Den
yer and in some booms, like the
Goldfield craze, most corporations
are organized in good faith. As q
rule, they are conducted in good
faith, if not ably.
Mining men and mining brokers,
especially, feel that is is just as
reprehensible for a state to sandbag
an undertaking with senseless red
tape and heavy fees as for a COM
pany to hand the public questionable
stecks.
There are, perhaps, more crooked
and SHINING brokers than corpora
tions. What effect can a blue sky
law have on a broker who follows
methods similar to those narrated in
the opening of this article?
Before Minnesota passed any blue
sky act, there were ample laws
against fraud, getting money under
false pretenses, cheating, swindling,
and all that. No state commission
can effectively or consistently pass
on the merits of company's prop
erty. It merely can regulate it's
routine of doing business.
Charles Eliasson has purchased
exclusive ownership and control OF
the Century Realty G Improvement
Company with offices at suite No.
2O4, Palladio building, Duluth. This
company is marketing Century Acres,
near Duluth Heights, accessible to
good roads, street cars, schools,
stores, telephone, electric light serv-
ice and the markets of the city. There
are eighty of these acre lots and If
Mr.. Eliasson follows the pace he has
set in other acreage offerings, Gen.
fury Acres soon will be in the hands
of the suburban home builders.
!! Edward r. Syverson has made a
| wonderful record on the Guyana
lou6O Ill 1Sol cSLdIC oAo AAAAlA6 III
vestments. He not only has put him.
self in the front rank as successful
operator in those lines but, in 1914,
was elected to the legislature.
At present, Mr.. Syverson is mar
keting an offering of choice lots in
Trommald, Crow Wing Co., Mimi.
Trommald is named after the register
Of deeds of Crow Wing Co. The
townsite embraces forty acres. It is
developing fast and promises to be-
come one of the very best towns on
the Guyana range. 1t has strong
strategic position. Not only is 1t
four or five miles from the larger
Guyana range towns but it is sur
rounded by big, permanent, profit
able iron mines. Such mines as the
Ferro, Merritt and Algoma already
are shippers. Joan No. has shaft
going down. Check-drilling is pro-
ceeding on other properties.
Trommald promises to be the hub
of great circle of iron properties.
Real estate in Trommald should pay
handsome profits and there are some
good business openings there for men
who can see a few months ahead of
their noses.
Many Duluthians have felt the