The Nezperce herald. (Nezperce, Idaho) 1900-1957, 1920-08-12
Ask to See His Permit.

/ concern must have permit from
the state bank commissioner for
selling such stocks or he is violat-
ing the law and is subject to a
fine Of $1,000 and six months inn
prisonment. Ii seller of stocks
in any concern approaches you,
ask to see his permit, and see that
it is duly signed by the proper
state authorities. This will at
least assure his company has been
looked into and has been found
worthy of doing business in this
state.
Attorney Miles S. Johnson, of
Lewiston, who has been vested
with the prosecution Of this law,
was in Nezperce Tuesday to in
vestigate local conditions along
this line, and he assures the pub
lie that he is prepared to act
promptly and effectively against
any infringement which may be
reported to him.
The following extracts from
the law indicate what the appli-
cant must comply with before he
is issued a permit to sell stock in
this state:
A statement giving the name
and location of the company and
its principal place of business and
date of incorporation, if incorpor-
ated, and in what state incorpor-
ated.
The amount of capital stock
and the total number of shares
and their par value and whether
common or preferred or both.
Submit a list showing in de-
tail the exact ownership of the
tothl capital stock on date APP
plication is made, also the amount
of stock held in the treasury OF
the company.
Submit statement showing in
full detail plan on which it is
proposed to transact business.
State the amount of money ac-
tually required for the develop
ment Of the enterprise, so far as
can be anticipated and segregate
the same into the necessary items
Of expenditure.
Give the names and addresses
of the officers and directors
showing the investment of each
| in the company and how acquii.
ed. and state the business exper.
ience Of those who will be actual
| ly in charge. together with the
salaries paid or to be paid. If nc
salaries are to be paid, so state.
Give five references for the
president and secretary of the
company and if a going concern.
give five references as to the com
pany.
Submit a copy Of all contracts
subscription blanks, bonds or
ether instruments which are us
ed in connection with sale OF
stocks or securities.
Give a condensed statement OF
the liabilitie sand assets and ful
trial balance sheet of same date
If mining company, give the
names of the properties, thu
name Of the mining district, the
county and state in which. locat
ed, and also attach to application
a certified copy of instrument
showing ownership.
Where patents for inventions
are involved, submit a copy of thu
filing wrapper of the proceeding
of the patent office.
| Companies whose assets consis
of or include real estate, such al
mining, commercial etc, shoult
submit evidence Of ownership o.
Interest in such property, and ful
description and location OF al
lsuch property should be made.
All such papers required whicl
ARE recorded or are on file in any
public office shall be certified b,
the officer of whose records O
archives they form a part as be
ling correct copies Of such records
| ANY other information touch
ling the affairs Of such investmen
company or corporation whicl
the bank commissioner may re