The Colorado statesman. [volume] (Denver, Colo.) 1895-1961, 1919-03-29
INFERENCE LIKELY
HOUSE PASSES BLUE-sKY BILL
ON SECOND READING.
ready Been Passed by the
Senate.

ifNlNtis b'ANtth h''N
Republicans of the two houses of the
Legislature in the matter of legislation
to curb fake promotion schemes and
to regulate legitimate sales Of specu-
latlve stocks in Colorado came to a
showdown when the House passed on
second reading the Girnrd-Fairfield
blue-sky bill (No. 443). The Senate
already has passed on final considern-
ton the Knauss-Peterson blue-sky bill.
The Girard House bill differs in many
respects from the Senate measure,
which calls for commission to pass
on the reasorableness of speculative
securities and to drive the wildcatter
from the state. The Girard bill Is
publicity measure, aimed to aid the
public by protecting the honest pro-
mOter of stocks. There is no securi-
ties commission or other body to check
the actions of companies or brokers,
reports being filed with the secretary
of states office. Indications are that
the Senate and House measures will
go to a conference, as the Senate meas
ure is now slumberlng in the House
judiciary committees, and a like fate
reaches the Senate. Democrats are in
the majority in the Senate. The blue
sky bill is an administration measure,
which was passed on the approval of
the Republicans and Democrats. The
Girard bill was changed during the
discussion on second reading to in
clude within its operations all water
or drainage district bonds. The judi
ciary committee had decided to ex-
empt these bonds from the operation
of the act, similar, in this regard, 10
the Senate measure. Little opposition
was raised to the regulation of irriga-
ton bonds, which were referred to by
speakers as speculative securities. An
other change in the bill does away
with the attempt to define speculative
securities and makes ii mandatory
upon the part of newspapers and other
publications carrying advertisements
of speculative securities to first verify
the authenticity of. the companys
standing. If advertisements of com
pany, whether Incorporated in Colo
RADIO or in another state, are published
without the necessary permit granted
to the company in the first place, the
newspaper is held liable under the
law.
The Bashor House bill giving 60 per
cent of land owners along an irriga-
ton lateral the power to incorporate
and condemn the ditch water rights
of the other 40 per cent was passed in.
the Senate. The object of the measure
was to protect landholders farthest
away from the head waters. Also
was passed the Colgate and Gardner
House bill appropriating $4,000 as Il
fund for the eradication of predatory
animals, in conjunction with the gov
eminent. The fund will be admins
tered by the state game and fish COM
missioner, and will be added to by the
government Biological Survey, which
will cooperate with the state officers.
Final victory over obstructionists In
the lower house of the General Assem-
bly, was achieved by proponents OF
medical care of school children. With
only three negative votes the Downing
bill providing authority for school
boards to employ physicians, nurses
and dentists to aid in safeguarding the
health of school pupils was passed on
third reading.
Colorado's proposed good road leg
islation was showed another step for
ward in the House of Representatives
when the three road bills, by which
an extra S2OOO,0OO is expected TO be
added to the road fund in 1920, passed
on final reading. The revenues in
1919 will approximate 100000.
The Dunklee- Starkweather Senate
hill allowing cities of the first and
second class. including Denver and its
mountain parks system, to acquire