El Imparcial. (San Juan, P.R.) 1918-197?, 1918-11-06
Corporations, Please Note

This communication has been adj
dressed by the Executive Secretary to
every corporation or association doing
business in Porto Rico.
San Juan, P. R.,
November 5, 1918.
Sir:
By the last mail arrived from the
States, I have received request from
the Capital Issues Committee, Wash
ington, D. G., to the effect that bring
to the attention of corporations doing
business in Porto Rico, the provisions
of the War Finance Corporation Act
and the necessity of having their issues
passed upon by the said Committee.
The War Finance Corporation Act
was approved on April 5, 1918, and a
Capital Issues Committee was created
thereby to investigate, pass upon, and
determine whether it is compatible with
the national interest for any person,
firm, corporation, or association, to sell
or offer for sale or for subscription,
after said date, any issue, or part of
any issue, of securities, the total or
aggregate part or face value of which
and any other securities issued by the
same person, firm, corporation, or as
h. oFo nd
date, shall be in excess of 100000.
The scope of the word securities, "
as used in said Act, is the broadest pos
sible, and covers stock, shares of stock,
debentures, notes, certificates OF indeb-
tcdness, and other obligations.
The purpose pursued by the creation
of the Capital Issues Committee is the
conservation of the financial resources
of the nation so that they may be
available at any time for any use that
may be essential to the prosecution of
the war. 1t is, therefore, war meas
tire, by which the Government, at
tentive only to the national necessities
in this supreme emergency, tries to re-
gulate the raise of capital for private
purposes, so as to avoid that any large
amount of money which may be needed
by the Government at any future time,
be devoted during the war to objects
that may not be actually necessary.
l am sure that every citizen will
clearly see his patriotic duty of earnest
ly cooperating with the said Committee
in the carrying out of the method
provided by law for the conservation
of all of our financial resources, so that
there may be always an abundant sup
ply to carry the war to the victorious
end that is already in sight. l am also
sure that the foreign people who have
permanently established their homes
and raised their families in Porto Rico
and have been successful in business
due to the opportunities offered to them
here, will be willing also to lend their
cooperation in this essential feature OF
the war work: if they are citizens OF
subject of our allies they shall be
willing to do so. because they have the
same interest as we have in the final
triumph of our joint armies; if they
are citizens or subjects of neutral ma
tions, because they are undoubtedly
thinking that their duty is to help this
countrywhere they have found happiness
and prosperity, and contribute to save
the liberty of the world from the me-
mace of the reactionary forces.
1 deem it advisable to state some of
the principal rules laid down by the
Capital Issues Committee, in order that
the provisions of the law and the eX-
tension Of the powers of the Committee
may be better understood.
For instance, there are certain classes
of financial transactions which do not
come within the province of the Com
mittee, to wit: