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Show Olson Bill Limiting" Profits in Business Introduced in Senate J Commercial Club Issues Call tor Meeting at Noon Today When Opposition to Measure Will Be Formulated. Ui N UVAl me title, "An act defining profiteering, . providing penalties t fiore for and the manner of prosecuting profiteers," there was . Introduced In tiie state sen- ;te yesterday by Senator Culbert L. Olson Ol-son a bill which promises to create the most co its ldi'i";tt tie discussion of the special spe-cial session of the thirteenth state legislature legis-lature and to arouse the opposition of the hnsi riesH men of I 'tan. Almost before the ink was dry on the senate in inut es a campaign against the provisions of the proposed law was begun. be-gun. There Is another measure already before be-fore the senate to give the attorney general gen-eral an appropriation of $10,000 for investigation in-vestigation of profiteering and the high cost of living, and it is probable that another bill will be introduced by the attorney genera ! sotting forth his proposals pro-posals for dealing with the situation. Of Medals of the Salt Lake Commercial cluh yesterday sent out a special call for a general meeting at noon today to discuss dis-cuss t he provisions of Senator Olson's bill, and it Is expected that at this time a fight will be launched against it. Tim Olson bill would provide that any person engaged in a business which nets more than " per cent profit or any real estate lessor whose profit is more than 1 0 per cent can be deemed a profiteer. Penalties for persons found guilty of profiteering provide for turning into the state treasury all profits in excess of the legal 10 or per cent, with fines for failure to comply. Provides for Taxation. It likewise provides that only "reasonable" "reasona-ble" salaries may be paid. The bill as it stands would lie intended to become a means of taxation as well as a blow at the profits of business. Dan B. Shields, attorney general, said yesterday that he was not familiar with the provisions of the Olson bill and declined de-clined to make a statement concerning it. iteer, and shall be deemed guilty of pro fi tee ring, which is hereby declared, unlaw Jul. In determining the actual expense ex-pense of operation of any commercial bus! tiess above referred to, no salaries snail be allowed except for services actually ac-tually rendered in the conduct thereof, and no such salary shall exceed reasonable reason-able salaries customarily paid for such services. Would Inspect Records. "Section 2 All books, papers, records, invoices, prices, trade correspondence, or other information concerning the business of any person engaged in any of the commercial businesses referred to in the foregoing section, and ail leases of real property, shall, at all times, at reasonable reason-able hours, be open to inspection by the attorney general of this state, or his regular regu-lar deputies, or by any person specially authorized by him in writing to make such Inspection, In order to ascertain whether any such person should be proceeded pro-ceeded against as a profiteer under the provisions of this act. "Section 3 If for the fiscal year of the business of any person engaged In any commercial business referred to in section sec-tion 1 of this act, or any lessor of real property, is guilty of profiteering, as herein here-in defined, such person shall torieit and pay into tiie state treasury for the benefit bene-fit of the general fund thereof, as a penalty pen-alty for such profiteering, all profits in excess ex-cess of the limits specified in section 1 of this act, and a failure on the part of any such profiteer to make such payment within thirty days after the end of the fiscal year of any such business, or at the end of the calendar year, as to any lessor of real estate, will render such profiteer liable to the state for double the amount of such excess profits. It shall be the duty o'f the attorney general to proceed and collect the full amount of such liability in the name of the state. Proceedings therefor shall be prosecuted in the district court in the county In which the principal office of such com- He. did, however, speak of a measure which he has prepared and which is now before the governor for probable presentation presen-tation to the legislature. This bill provides pro-vides for prosecution in individual eases of profiteering on single sales, limits profits to be "reasonable" without setting a fixed percentage of profit, and provides for prison sentences for persons found guilty of violating the law. Mr. Shields's proposed law would likewise give persons accused of profiteering a trial before a jury, with the jury empowered to determine deter-mine what might be and might not be "reasonable profits." The attorney general's bill will be presented pre-sented to the legislature. if at all, through the medium of a special message of the governor. In this connection it is said that with the requests for the repeal re-peal of the picketing law. this consideration considera-tion of profiteering and some other mat-trs, mat-trs, it seems probable that the governor wiil appear before the legislature with suggested additions to the present legislative legis-lative program. Business men were not hesitant in expressing ex-pressing their opinion of the Olson bill last night and characterized it as "Socialistic," "So-cialistic," "confiscatory," "impractical." Senator Olson is known as a spokesman for labor interests of the state and directed direct-ed in the senate during the last session several moves for radical legislation. His bill follows in full: Text of Bill.. "Be it enacted by the legislature of the state of Utah: "Section 1 Every nerson engaged in the manufacture and sale, or in the business of buying" and selling, foodstuffs, do thins, th-ins, household goods, machinery, lumber, building materials or other merchandise or articles of trade or commerce, or who is engaged in the production and sale, or in buying and selling coal or coke in the state of Utah, whose net profits from such business, after deducting all actual expenses ex-penses of operation, actual losses, reasonable reason-able depreciations, and all state, county, municipal and federal taxes upon the property and income thereof, exceeds 15 per cent per annum, and every lessor of real estate whose" net income from such property, after deducting taxes, reasonable reason-able expenses for care and repairs thereof, there-of, and reasonable allowance for depreciation, depre-ciation, exceeds 10 per cent of the capital capi-tal actually invested in such property, or actually invested in a lease thereof, if such lessor is himself a lessee of .such property, is herein- declared to be a prof- estate is located by filing a complaint against the profiteer so charged with being in default, which complaint ahall state an offense against this act by alleging al-leging in substance that the defendant la guilty of profiteering for the fiscal year specified in the complaint (if the defendant de-fendant is charged with profiteering in any commercial business), stating the nature na-ture and principal place of business in which such profiteering is alleged to have occurred; or (if the defendant is charged with profiteering as a lessor) by alleging in substance that the defendant is guilty of profiteering in the leasing of real property, prop-erty, and by specifying, sufficiently to identify it. the property to which such leasing relates. The complaint shall pray judgment against the defendant as provided pro-vided for in section 4 of this act. The action shall be commenced by filing the complaint and issuing and serving summons sum-mons in the manner now provided by law for the commencement and prosecution of civil actions in the district court. Punishment Provided. "S-ection 4 If. upon the trial of such action, the defendant is found eruilty of profiteering as defined in section 1 of this act, tiie amount of such profiteering unpaid un-paid by it to the state, that is to say. the profits from the commercial business of the defendant in excess of 15 per cent per annum on the actual capital employed therein, or the profits from leasing in excess of 10 per cent of the capital actually ac-tually invested in the real property In question, as the case may be, shall be determined, and the defendant shall be fined in twice the amount thereof, together to-gether with the costs incurred in the prosecution of such action. Judgment' therefor shall be entered and docketed and shall bear interest from the date thereof at S per cent per annum, and said judgment shall constitute a lien on the business and property of the defendant until the same shall have been paid in full to the clerk of the court in which the judgment is entered, whose duty it shall then be to enter satisfaction thereof on the judgment docket and to pay over to the state treasurer the money so received re-ceived shall be covered in the general fund of the state. "Section 5 The word 'person when used in this act shall be construed to include corporations, associations, partnerships part-nerships and individuals. ".Section 6 This act shall take effect i upon approval." |
