El Paso herald. (El Paso, Tex.) 1901-1931, 1919-05-21
N05T6GK PLANS
T0BEEND0RSED
Chamber of Commerce De-
eides That This Is Not
Its Proper Function.

Whether or not the chamber Of COM
merce can function as a stock broker
age and at the same time fuirl the
purposes OF its organization under
paragraph 55, o. article Ill., OF sa4les
revised civil statutes Of Texas, edition
OF 1919, Was the subject OF speclal
consideration before cne nlanufacLur-
ers committee Of the chamber Of com
merce On Tuesday afternoon. The
meeting was presided over by John
n Tart.--and. a1rer hearing the pro-
posal Of the Federal OH and Refining
company that the chamber OF COM
msz-e assist this enterprise In the
placing OF $4,000 OF stock ia FL PasO
on condition that the refining com
pany build a plant costing Sz5uiluu1
the committee decided Lu2L the cham
Der OF commerce had not in the past
and could not in the future under
take any program that would leaa
70 the sale Of stock
VIII Welcome the Concern.
The Federal Ga and Refining COM
pany was represented by Fred q
knollenberg as counsel Mr. Wyatt
assured Mr. kuOllenberg that the
chamber Of commercs would welcome
as many reLiueries TO Ell Easo as the
territory could stand ana that the
chamber Of commerce would place no
Limitations upon its effort in the mat
Ter Of preliminary surveys assistance
IN the securing Of sites and SO forth.
but that the chamber OF commerce
could not. and must not function as a
brokerage concern rie stated taat
n his own case, where he had repre-
scented a proposed refinery, the cham
Der had fuucroned 100 percent in pre-
Eeuting statistics and surveys and
that he did not and could not think OF
the chamber Of commerce carry ing
its work any further than that OF sup
plying the Information.
EOulcE Represents Refinery.
". l. Looleys representing the FL
Paso Petroleum company also ap-
peared before the manufacturers com
mlttee. but stated that he did not
come for any endorsement, only TO
present the proposition that the cham
Der Of commerce might have IL OF
record
In order that the issue might be
clarified once and for all as TO the
position Of the chamber Of commerce
in stock selling matters VI. A. 0rcop, 1
counsel for the chamber OF commerce. /
submitted an opinion which was IN /
part as follows.
- you can only legitimately and I
properly furnish ali the information I
which you have available tending TO I
show the opportunity for such a busi- !
ness In this connection We respect !
fully caH your attention 70 the spe- I
clfic objects FOR which your chamber I
Of commerce is Incorporated under 4
para graph S., Of article 1lZl, Of Sayles'
revised civil statutes OF Texas. edi-
tion OF 1915. This section authorizes I
Tour Incorporation
Its Incorporated objects.
For the Organization of a cham
her Of commerce rpr to maintain
uniformity Of commercial usages Of
cities and towns 20 acquire. preserve
and distribute valuable business in
formation and generally TO promote
the interests Of trade and increase
OF facilities OF commercial frausac-
tons
st seems to Us that you VIII be
doing al that you legitimatesly can
T you furnish TO prospective purchas-
ars of the stock or to representative
Of the concern, in the shape Of a let /
ter or report, such Information as you
have with reference 70 the -opportu- i
ritF FOR the establishment Of the 4
hasiness contemplated. IF YOU
80 further chan to give such available