Show 7 W MA U gs n A hAP Aro AI Jers and Sellers of Ar- Ar Articles tides Who Realize Profit 11 in in Excess of 15 Per Cent Also Are Target of BillI Bill I G Cuthbert L. L Olson if of Salt Lake today intro intro- e a bill in the senate of the h legislature calculated to tobe toke ke lic a death blow to illegal i Sering ering very person engaged in the manue manu- manu ule ure e sale and distribution of food- food clothing household goods goads maery mary ma- ma ery ry lumber building materials and und tl who reali realizes e a net nei iS of more than 15 per cent Js is t led d a profiteer under the proposed Ie e. e S PROPERTY OWNERS ers of real estate property who whoa a their buildings as commercial or estic quarters are defined as profi- profi s sj 51 under the proposed act if their p profits are in excess of 10 per cent h ties actual money invested provision of the bill is aimed at the apartment house own- own l nany of whom are suspected of jig realized profits far in excess of maximum allowed under the Olson i ie re 1 bill provides that all books pa- pa records invoices prices and other invents and information concerning business of any persons leasing erty or who is engaged in a a. com com- 1 l enterprise shall at all times ven i pen en to inspection by the attorney t l 1 of the state This set of teeth i l red ered In the bill bilI according to the lor tor to provide a means of getting gettinge e sons who ma may try through jug- jug 1 of books false statements and unscrupulous methods to avoid l v. v ESS PROFITS SEIZED i bill further provides that all allI I f W in excess of those allowed un- un t the e act shall ze seized by the state placed paced In the general fund The Theer Theil il er er then be prosecuted in inI arts and if found guilty shall be bet beL t L ln n twice the amount of his profits e margins allowed b by the pro- pro I law aw aw 5 per cent profit In a commer- commer siness and 10 per cent return on ono o erty investment is not sufficient Ill be no end to the gouging to the public can be subjected by price fixers and cons cony con- con r y rs s of commodities said Senator n folio following wing the introduction of his ure reo re hg law Is drastic and would affect hose lose who are guilty and afraid of the truth known I believe tiPe jo e is in favor of such a law but to be seen how far the laware lawre law- law are re willing to go in the matT matT mati mat- mat i T T- OF MEASURE towing Rowing is the complete text of mil 1 Ht t enacted by the legislature of II I rate te kte of Utah on 1 Every person person engaged In and sale or in the thess thess thess r ss ss of buying and selling food- food clothing household goods mat ma- ma lumber building materials t er merchandise or articles of or commerce commerce or who is end enin en- en I en-I i d in the production and sale or dying ying and selling coal or coke e state of Utah whose net profits such tsuch business after deducting I fual expenses of operation ac- ac 1 I reasonable depreciations 11 ll state county municipal and andal andal andal al taxes upon the property properly and andrie rie ne ne thereof exceeds 15 per cent fe Continued on page 3 it LSON AIMS BLOW Continued from page 1 1 and every lessor Jessor of real J whose net income from such r riy after deducting taxes reale reale reale rea- rea le expense for care and repairs of Jf and reasonable allowance for elation exceeds 10 per cent of pital actually invested in such I or actually Invested In a thereof hereof if such lessor is himself see of such property is hereby gd d to be a profiteer and shall guilty of profiteering s 's hereby declared unlawful In Inning ming ning the actual expense of op- op n of any commercial business preferred to no salaries shall shan owed awed except for services actually tG rd in the conduct thereof and gh ch h salary shall exceed c eg customarily paid for such suchS suche e S iTO iTo INSPECTION tion 2 All AU books papers records es prices trade correspondence her ger information concerning the thess thess thess ss of any person engaged in any 1 commercial businesses referred I he foregoing section and all an allI I of real property shall shan at all In allt 1 Eat t reasonable hours he be open to inspection by the attorney general gene of this this state state or his regular deputies or orby orby orby by any person specially authorized by him in in writing to make such Inspections inspections inspections in order to ascertain whether any such person should be proceeded against as a profiteer under the provisions provisions pro pro- visions of this act I Section 3 3 If for the fiscal year ear of the business of or any person engaged in any commercial business referred to in section 1 of this act or 01 any leaser of real property is ib guilty of pro profiteering as herein defined SUCH bUCH PERSON SHALL FORFEIT AND PAY I INTO TO THE STATE TREASURY FOR TIlE THE BENEFIT OF OP THE GE GENERAL FUND D THEREOF AS A PE PENALTY ALTY FOR SUCH PROFITEERING ALL PROFITS PROFITS PROFITS PROF PROF- ITS IN EXCESS OF THE TIIE LIMITS SPECIFIED IN SECTION 1 OF THIS ACT and a failure on the part of any such profiteer to make s such ch payment within thirty days davs after the end of the fiscal year jear of any such business or at atthe atthe atthe 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 of the attorney general general general gen gen- eral to proceed and collect the full amount of such liability in the name of the state Proceedings shall be prosecuted in the district court inthe inthe in inthe the county in which the principal office of such commercial busi business ess or in which such real estate is located by filing a complaint against the profiteer so charged with being in default which complaint shall state an offense against this act vy y Y alleging in substance that I the defendant is guilty of profiteering for the fiscal year year specified in the complaint complaint complaint com com- I plaint if the defendant is charged with profiteering in any commercial business stating the nature and principal principal principal prin prin- cipal place of business s in which such profiteering is alleged to have haye oc occurred occurred occurred oc- oc or if t tie Ie defendant is charged with as a lessor by alleging in substance that hat the defendant is iE guilty of profit profiteering that erin in the leasing of real property ind nd b by specifying sufficiently sufficiently sufficiently suf suf- to identify it the property to which such leasing relates The complaint complaint complaint com com- plaint shall pr pray pray- v judgment against the defendant as provided for In fn section 4 of this act T The e action shall be commenced commenced commenced com com- I by bv flin r the complaint om plaint and Ising Issuing issuing Is- Is suing and ser sen ing summons in m the manner now p by law for the commencement e and prosecution of civil il actions in the district court I HEAVY FIN FINE PROVIDED Section 4 4 I I. I upon the trial of such action the de is found guilty of profiteering as defined in section 1 of this act t the amount of such profiteering profiteering profiteering prof prof- unpaid by bv it to th the state that thatis is to say the profits from the commercial commercial commer commer- I commer-I cial business f the defendant in excess excess ex- ex cess of l 15 pe per cent per annum on the actual capital if employed ed therein or the profits from easing Basing in excess of 10 per cent of the e a capital actually Invested invested invested in- in I vested in the real teal property in question j jas I as the case may be shall be determined deter deter- I i mined and the defendant shall be I j fined in amount thereof together together to- to to-J to I i gether with the costs incurred in the prosecution of such action Judgment I shall be entered and docketed and shall bear interest from the date I thereof at 8 per cent per annum and said judgment shall constitute a lien on the business and property of the I defendant until the same shall have been paid in full to the the- clerk dent clerk of the court in which the judgment is en entered entered en- en whose dut duty it shall then be to enter satisfaction thereof on the judgment judgment judg judg- ment docket and to pay over to the state treasurer the money so received All moneys so received shall be covered covered covered cov cov- ered in the general fund of the state Section 5 5 The word person when used in this act shall be construed to include corporations associations partnerships and individuals Section G G. G This act shall take effect I upon approval |