, 1922-01-22
RECEIPTS State
SECRETARY JUMP
TO GREAT SUN
$35O,000 Paid in During
Year and Net Profit
Contues to Grow

Gross receipts OF tho secretary Of
states office. according to figures sub
mitted by Secretary Chaplin amounted
last year to ss5o.ooo. making thl. d.
partment one of the foremos, OF IN,
state revenue producers. The expen,.
OF doing BUSINESS amounts to about six
Chaplin.
Motor vehicle licensing, described \.
another column. is the source Of xrea..
est revenue. The office also handle~
me records OF tho executive business
Q. the state and the legislative branch
OF the government. In addition TO the
ness.
m number OF new corporations en-
now more than 1000 per annum a,r.
dreds OF them. OF course d -ethinr
more than have thief ;, Jck $500
and cucumber the reco..s OF the s,at.
me oil and mining business. aceordIn~
10 Mr.. Chaplin. have been profile IN
organizations that have had no other
purpose than to sell stock.
IL seems anomalous accordinr to
those familiar with the situation. that
: state should permit tho orsantzatIo,
OF thousands OF business concern.
without keeping a stronger hand anon
thedr financial operations. bur tnde-
existing laws In the United state.
thero In little. Il is claimed. th.t
state can do In the way OF regulation
During the yea 1921 there were
filed with the Wyoming secret,rv of
state articles of l.073 corporations
fees from which aggregated s59.4e4.5s.
Two fees from the Standard OIL com.
pany OF Indiana mad up mora thnn
one-thfrd OF this entire sum. rrhnt
company on one occasion Increased
Its capital stock by $40, ooo, 900. maxi
ing necessary a filing fec of sf4.Oo5.
and at another time by $40. 900 600. r,-
curing a fec Of ss.Oo5. These were
the only large fees received. tho other
filings being for various corporations
m small amounts.
with two exceptions corporation.
doing business in tho state have com
phed with the laws Of Wyoming, and
nave accepted the constitution and
paid the fees required by law. These
two concerns are now involved in I'D
sauon regarding the right by others
to use their names in Wyoming.
Tho last session Of tho Legislature
delegated administration of tho So
called blue sky law to tho secretary
OF state. It's business has not yet AS
stunned large proportions. although a
considerable number Of corporation
arc required to mako filings and re-
ceive permits under tho law. Accord
ing TO Secretary Chaplin. tho law
does not possess the teeth that a thor
ough blue sky law should possess.
merely requiring that heads Of corp
orations making application shall bear
an honest name among the people and
that they shall not mirepresent their
business to the people to whom they
are selling stock. II they make a
correct report on their assets and liza
biiities they are permitted to sell their
stock.
However. as Mr.. Chaplin says. .rbiue
sky laws are Of little value in.protcct.
ing h sucker who has not sufficient
brains to talSe care of himself"
Other activities in the secretary OF
states office have to do with the re-
cording OF notarial commissions, exec
utive proclamations. acquisitions and
various papers connected with the ex-
ecutive office and penal institutions.
all OF which embrace a large amount
of detail work each year.
The year 1929 will see but two
eclipses. which is the minimum NUM-