Show COLORDO COLORADO BLUE SKY LAW NOW NOWIE AGiT AGITATING I TINt NEROUS NUMEROUS IE COMPANiES i I I I Utah I Is not the only onh state stat now agitating agitating al- al agi agi- tating blue sk sky sort of ot legislation laton From Central CS Colo Cob comes word that 0 O. J Jenkins sen sent t tup up a COP copy of oC the blue sk sky law which has been introduced In the legislature at Denver and md asked for an opinion of oC the local chapter of the Metal Miners Miners' Miners Miners' Min Mm- ers' ers association and after aCer considering tho the measure sent Bent the tho following reply to Mr 11 Jenkins We Wc have o ha given this bill bi a careful scrutiny and came to the tho conclusion that it It contains several so very VCr objectionable objection objection- able ablo features We Wo rul fully realize that there should be some law to safeguard tho the called so-called so-caled so innocent investor ivestor and protect him himI f from om the unscrupulous promoter However However How How- ever over the tho majority of oC the people that have havo hae Invested In mining stocks have hYO done dono so blindly and the tho larger and more alluring alluring- the tho promise tho the easier casler they have hare opened their pocketbooks If I the tho good people would only take the same precaution that the they would use usa in buying an anything else elo it I would not bo be necessary to have such a a. n law lw at all aU and tho the promoter who ho handles a worthless proposition would have ha e hard bard sledding sledding indeed However this is not to tho the point poInt so lets let's lets let's take up the bill bi The main objections raised to the tho bill are the additional expenses imposed on the tho mining Industry As you OU are well wel aware both the federal and state governments gO gov havo have In an indifferent wa way put ever every kind of f an obstacle in the way of ot the miner and It would only be to enact a drastic blue bluesky bluesky sk sky law to absolutely kill Idl the indus Indus- tr try An Any man with a n grain of or common commonsense commonsense commonsense sense ought to know that If it he In In- In vests his mone money In a prospective mining ruining ruin min I ing enterprise it is a n pure and simple speculative proposition with wih the the i Is encountered chances that If I pa pay ore I Ithan the gains will wil be Immensely larger than In any other business On the theother theother theother other hand hanc If 1 no ore Is found the In Investment Investment In- In vestment Is an entire loss The Tho expense already imposed on a a mining corporation such as state fees tees license tax Incorporation charges etc etc are arc already heavy enough In addition additon i ito to this the bill bi propose proposes another 10 1 i of ot 1 per cent on the capital issue to be paid at ot the time of incorporation and ond I which would mean on a capitalization of ot only another tax Then the tho powers vested In this proposed commission commission com corn mission are entirely arbitrary Why For Instance an any fellow that has ha 50 or 00 Invested in a a company compan can re request request re- re quest from this commission an art investigation investigation In gation and then they would send a aman aman man up here hero at t an expense of ot 10 0 per perda da day and expenses to conduct this In Investigation In- In and the tho chances are 10 to 1 that the fellow who is I sent up to conduct conduct con con- duct this examination doesn't know anything about the business and wouldn't know a mine from Crom a hole In inthe tho the ground and might take any length of or time and the tho poor company has to foot the bill It I certainly is hard enough to get set mane money for tor legitimate mining without throwing It Jt away In such manner Tho The mining industry ne needs ds all tho the help hep It I can possibly get and it certainly certainly certainly would be very unwise legislation lo 10 put any further urther obstacles in the way of or it So tho the of ot opinIon opinion opinion ion as expressed hero here Is Ie that the bill bi would not be satisfactory and Instead of or being a help to legitimate mining would be a detriment detriment |