The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-01-31
AS OLD AS HISTORY
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Continued from Page One.)
traced the growth of the present day
system down from the days of the
primevaI man thru the, various stages
the parcelling of lands held by the
overlords, with their retainers: the
gradual development of individual
rights. He said:
I'VE find that property and law
were born together and die together.
Before laws were made there was no
property. Take away law and prop
erty ceases. We cannot have property
without law for thru law possession
ripens into property. -. but there
must be just and public. order and
moral law behind the statute law"
Value of Expert Testimony.
The value of expert testimony as to
handwriting, typewriter documents
and signatures was outlined before the
lawyers today when ]. C. Sherman of
Wichita spoke of "Evidential Facts
Contained in Disputed Documents"
In the case of typewritten documents,
Shearman asserted, almost positive
testimony could be given as to the
genuineness of a document presumed
to have been forged. Handwriting ex-
perts are almost equally competent, he
stated. altho the average person knows
little if anything of the theory upon
which they reach decisions.
Every few who are allowed to quail
ify as a witness upon documents know
the most fundamental systematic and
national attributes of handwriting,
said Shearman in a slap at incompe-
of such witnesses do not know such
things exist. Here truly a little
knowledge is a dangerous thing, for
if a witness does not know there are
systematic characteristics how can he
observe them or seeing them give to
such attributes correct value in an in
vestigation? {. ITO prove that two
documents were written by different
hands, differences and discrepancies
must be pointed out which may not be
due to accident or disguise"
Shearman went into detail as to
methods pursued in tracing interlinea-
lions, and dwelt at length on the fact
that only the experts could discern
and make clear the traits of the indi-
vidual handwriting.
Defends Non-Par Stock.
James A. Allen, well known Cha
mute lawyer, today defended the nom
par stock companies recently APP
proved under a decision of the state
supreme court. Allen asserted that
the non-par corporations were a safe
guard to the frenzied Spectator and
the sucker who brought wildcat Sc
curities. He spoke before the State
Bar association.
Twelve states, Allen pointed out,
now authorize non-par corporations to
do business. Thru use of non-par
value certificates, the investor is
placed upon his guard before buying,
Allen urged, and is not lulled to sleep
by the dollar mark upon the stock
certificate.
I'm the case of a sale of a certifi-
cate for shares of non-par stock,
said Allen, under any circumstance
the purchaser is naturally put upon
his inquiry to ascertain what fair
value if any the proportionate interest
in the total assets sought to be mar
keted to him has; and is in no sense
lulled into a sense of security by the
dollar mark upon the certificate of
shares, as a soothing potion"
Allen showed action of corporations
under the customary scheme of Jug
Cling capitalization facts and figures.
OvercapitaliZation was discussed and
light thrown on methods of unscrupu-
lous corporation interests in watering
their stocks. These general schemes
have failed to work well and only in
cases of corporations such as banks
which deal directly in money, credits
and securities and whose assets are
kept in liquid form, have assurances
and safety been found in fixed par
value securities. In only three states
Missouri, Washington and New
Mexico-are permits to non-par value
] corporations denied.
Judge Richard E. Bird Of Wichita
this morning told the Kansas lawyers
Bench" The sessions of the State
Bar association close. tonight with a
banquet at Pelletier's Tea room.