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Show Wl W LI ; VOIDJS CUB jCompany, Denied Permit, j Asserts Commission Does Not Exist. j Should the? state supremo court uphold j t'-.e contentions made by the United State W'o'A company that th .state Keeuritiea crjrnmlHHion dues not exist, b-cauwe of a clerical error in trio law pass.-d at the JuHt ; session of legislature efeiitlng the '1'inmiM.SiOn, the matter ran easily In: rented.. rent-ed.. t at tho apecial nf.aaUm nf the law-inal.jng law-inal.jng body called for Hep tender 21.1, (jonion Snow, secretary of the aecuritlea com nm.imou said ycMti-rrlay. 'i' Itu question of the existence of the comrrilH."lon was rai.sed yesterday bv' Clifford Clif-ford '. i-T'll, attorney fur the United States Vk'ol company, when an application previously pre-viously made before t he com mission by tin- Company for a Mcenae to sell Htock In Utah wan withdrawn. Mr. Fed pointed , out the fact tiiat the law an passed, with i an amendment offered by Senator Culbrt OIj-'oii, substituting the words, "making "mak-ing application for and receiving a HeenHe auf horlzlng tho Rule or exchange of such sernritien; the application for such II-ciiiikb II-ciiiikb fiiiall Ikj nindc," fui' the word, "filing,'' "fil-ing,'' was not the law which wua signed J try tfio president of the senate, the wneaker o: tile hoiiHe and the Kocenior, and on this omi.Llnn Is predicated the theory that the law Jh vohl anil that therefore the "blue fcky commission" floes not exist. The wool company"! application for a lleeiiH-1 to sell stock In Clah was not s(iaiLted by the commission, because it was aUcjre-l by tiiat budv that tile company oad failed to follow til plans as set down for t Ivy the commls'on. Mt f'H asserts that his company will not V'nlt for a license from the commission commis-sion but will act In accordance with tho I theory that there Is no iueh a commission and pell stock to the wool men of Utah. In a statement. Mr.- Hnow says: "Tho state necurlties commission has had ,no opportunity as yet to ro Into the irtorltH of the United States Wool company's com-pany's contention that the lav creating the commission Is void. b'Jt should It be proven that tho law Is void it should be a Hiriipla matter for the leslslatiii e, at Its cornl.nK special session, to correct the defect, de-fect, whleli appearB to arlso merely out of a vlerleal error. "The matter will be Klven Immediate attention, and If the commission dorms It neeessaiy, tho Rovernor will be asked to bi-lnur the matter to tho attention of the legislature In special session. "Ah a matter of fact, the restoration of the chiueo in the law, on the omission of which Mr. Fell rests hl.s contention, will Klve It an additional tooth or two; and It In probable that the commission will fleck to have tho original Innpuafie of the law restored regardless of the point raised by the United States Wool company. "In the meantime the commission does not voneede that the law creating It is 'old and will continue to rciiulate to the bei-l' of Its ability tho sale of securities in I 'tali." |