4 A
-THE OMAHA SUNDAY BEE: DECEMBER 26, 1920.
' Improved Laws
On Securities Are
Urged by Davies
f
Attorney General Telia of
Weak Points in Present Laws
Allowing Companies to
Fleece Stockholders.
- )
Lincoln, Dec. 25. (Special.) At
torney General Clarence A. Davies
in a letter to Governor McKelvie,
urges that the legislature provide an
adequate system for the control of
securities sold m the state. In part
Lis letter said:
"An adequate system for the con
trol of thu sale of securities is to
my mind the most necessary step
for our next, legislature to take,
nnd there is no field of law enforce
ment which is fraught with more
difficulties.
Praise for Bureau.
"I have carefully watched the
work of the present Bureau of Se
curities. They ought to be very high
ly complimented on the good they
have accomplished. a hey have
weeded out and ker-t from sale fn this
" state literally millions of dollars of
bad stocks and bonds. I think they
rank well with the securities com
missions of other states. I know
they have denied dozens of com
panies who have permits in other
states.
"The chief charge that is made
a?ainst them is that they have been
slow and that a great many securi
ties have been sold which the bureau
did not approve. The answer to
both of these criticisms, I want to
say on behalf of the bureau, is that
their equipment is inadequate both
s to money and as to size of office
force. After acting as counsel to this
bureau for two years, there is no
; doubt in my mind that a properly
equipped securities bureau to handle
the mass of corporate business in
' this state ought to. comprise at least
75 people. If blucsky legislation is
to succeed, we must realize that some
of these people must be high-priced
employes. The state cannot afford
to put its $150 a month accountants
against $10,000 men of large corpora
tions; the state cannot afford to rely
on the ordinary system of law en
forcement (sheriffs and county at
torneys,) as against the high-salaried
attorneys and salesmen of these cor
porate enterprises.
Need Follow Up. , J ;
- "The change in plan which is par
x ticularly vita! has to do with thf
later stages of corporate manage
ment. We understand that the Bu
veau of Securities and the blue sky
law does nothing except investigate
jlhe preliminary organization of a
Company, and, having determined
that.it is properly organized" and
that it has some reasonable chance
of success, it is their duty to authpr-
' ize it to sell its stock. That is where
our preSent'Xommission's powers, re
sponsibilities and duties end; and yet,
during tl)e last two years, practically
v all of our bad corporate failures have
come about by reason of corporate
management long after the bureau
..had any control over the compavyr.
The stock-buying public is inclined
to blame the bureau. As a matter
of fact, they should blame corporate
management. We ought to have
drastic criminal statutes dealing with
corporate directors who, for instance,
issue watered stock, -who declare
dividends on unearned surolus. who
declare dividends by the simple ex-
peaient or raising tne dook value ot
corporate property, who sell corpor
ate property to themselves at cheap
prices, or who vote to buy property
from themselves at 1 scandalous
figures. .
J'lf the securities commission is
to continue in existence, it must have
some kind of a 'follow-up' procedure
su inai auer giving a company tne
right to sell stock it does not merely
turn it loose to be robbed from the
inside by its officers, as it is com
t pelled to do, under our present stat
utes. If the state is going to give
its permission to the sale of cor
porate stocks, then the state owes
its citizens the obligation to keep
some supervisory power over these
companies." x
Art Director Takes Slap t
At "Ear Puffs" for Girls
Worcester, Mass., Dec. 25. I
i aggravate x iasnion as - gins
do, who wear such huge buns of hair
over their ears that - they 'resemble
African savages," was the advice
given to members of the Worcester
Woman's club, an exclusive and fash
ionable society, by James Parton
Hanley, director of art in the New
York high schools. v
His lecture topic was: "Taste and
Its Training." He defined taste as a
nutter of making wise choice, not a
matter of cost He hailed women as
the real arbiters of fashion, style and
taste. ,
Bold Chicken Thief
Proves to Be Wildcat
Boston, Doc. 25. R. D. Saunders.
A., a iarmer living on the outskirts of
feabody,. went gunmhg for the
skunk of other animal that had been
; making away with his chickens. He
', finally found it in the form of a wild
cat, stretching out four and a half
feet and weighing about 50 pounds.
-He lost no time "drawing," with the
.result that the skin of the animal is
now being prepared for the Peabody
Museum in Salem. Incidentaly Mr.
Saunders will receive $5 from the
commonwealth, the reward offered
for the slaying of the "cat."
- City Must Pay for
Zoo Bear Hug
Aurora, 111., Dec. 25. Leo Valdo,
former superintendent of the zoo
here, today asked the city council
to pay Dr. W. A. Worthington $15
. for giving him first aid after he had
been hugged by a bear.
Valdo was working in the "an
imal cage when the bear embraced
him. Three ribs were broken. Dr.
v Worthington charged him $5 dollars
each for setting the bones. Valdo
thinks the bill should be naid bv the
city.
Iowa Gfcifyge Fraternity
House Destroyed by Fire
Ames, la., Deo. 25. The Delta
Upsilon fraternity house here burned
about 8 o'clock tonight, with a loss
of about $10,000. The fire is sup
possed to nave started in the furnace
room from an overheatea pipe. The
loss is partially covered by insur
: aace. There were no casualties. '
i -.
Investigation Bureau
- Is Advised by Davis
.N - 4
Lincoln, Dec. 25. (Special) A
bureau of investigation in connec
tion with the Department of Justice
is advocated by Attorney" General
Clarence A. Davis in a letter ad
dressed to the governor, in which
he says that in connection with law
enforcement there should be pro
fessional investigators . , ana detec
tives to "carry on the work success
fully. "In spiye of all that I have been
able to d, I find that there are cer
tain classes of law enforcement
which must be closely supervised
and directed by the attorney gen
eral's office, namely, the blue sky
law, the banking law, the insurance
law, the anti-trust law and some
particularly atrocious crimes of vio
lence," he said, "It is impossible to
enforce these laws without someone
to procure evidence, to investigate
conditions ana to supply material
upon which to base our cases. This
is not legal work. It is not the busi
ness of lawyers to collect evidence
in these matters. A man does not
need legal training to do it and a
lawyer is wasting his time when he
does it. A trained investigator would
oe invaiuaoie.
Drainage Ditch to Be
Built Near Stanton
Stanton. Weh. TW 0
Telegram.) Residents of the public
uramage district voted at f special
election to proceed with fte ditch
which,lwhen completed will do away
with the floods which the eastern
part of the county has been experi
encing the past 20 years.
Work will be started on the big
ditch early next spring. The cost
will mount into the thousands of
dollars, but in view of the yearly
crop and property damage it is esti
mated that the ditch will pay for it
self in 10 years.
Thirty-seven attened the elec
tion, each vnter havma aa msm,
votes as he owned acres of land or
1 a. . TL. - . . 1. ' . -
unj mis. iiic vuicson inis oasis
were 1.245 for the ditch and 741
against it.
Irish Terrier Dislikes
Englishmen and Germans
San Francisco. Tier 7$ Tnmmw
an Irish terrier, is more of a Sinn
Feiner than any of them. j
For a dog, Tommy has strrong.na
tional prejudices. And he does not
hesitate to show his tiN and
likes. As a citizen of the Irish re
public, almost, Tommy has a distinct
aversion to Englishmen.
' "I say, old top, come heah; have a
bone."
In response to a speech of such W
English arrpnt Trimm Kn'ctloe ..n
backs away and growls. But he does
noi connne ms national hate to the
ivngusn. tie shows -his teeth on hear
ing such words as:
A schane jung puppy, no? He eats'
a leetle-goot cheese?"
Tommy , is. perfectjy amiable
toward those who address him in the
English tongue as spoken by Amer
icans. The dog is in the custody of
Captain J. P. McKenna, of this
city.
- - '
Best Man at Wedding , ''
Stricken Totally Blind
Pawtucket, R. J., Dec. 25. Strick
en suddenly blind while acting as
best man at a wedding, William Al
lison concealed the fact and calmly
went through with his pan ot the
ceremo'iv.
He collapsed when it was over and
was treated by eye specialists, who
stated that he was totally blind and
would probably not regain his sight.
Allisnn W9I mrtinee ai ItAcfc m. 4m
Robert Williams," who was married
The ceremony vas performed at
the Congdon Street Baptist church.
Allison is a graduate ' of Paw
tucket Hiffh srtinnt janA mc a11
known as a foot ball player. He is
24 years old.
Courtship hy Mail Wins
Bride for Chinese Youth
, Springfield, Ma ss.,- Dec. 25. The
second Chinese wedding in the his
tory of Springfield was cedebrated
at the Hotel Kimball when Miss
Wong Loy Tai18, of San Fran
cisco, Cal., became the4ride of Eng
Hork Gong, wealthy restaurant
proprietor. ,The ceremony was per
formed bv Rev. Neil MrPhercnn
pastor of the First Congregational
emircn. -"I
had some preliminary corre-
spuuuence wun jvir. ana Mrs.
Wonor." savs the hannv trmnm "ho.
ginning- with' an honest statement of
my nign rcgara ior inem ana tne
virtues, character and standing of
their honored family and ending
with- my petition for the hand ot
ineir iovejy aaugnter. '
Sinn Fein Propagandas
Feared On Atlantic Liners
London, Dec. 25. Complaints that
Sinn Fein propaganda is taking place
on transatlantic lines are made bv
tory newspapers here. Itis charged
tnat -rebel" literature is left about
in the Kalnna and riintner rnntne
A group of Ulstermen who fre
quently visit New -York on business
nave written to air ndward Carson:
' "We wish respectfully to acquaint
ypu of the fact that certain ministers
of the Romna Catholic church are
traveling to and fro on1 the Atlantic
steamers, and that although they pro
fess not to be propagandists, we can
assure voti that at n
opportunity they take good care to
ati us sucn. .
Only One Superman in,
University of California
Berkley, Cal., Dec. 25. Only
one "supermah" has been found
among the students of the Univer
sity of California, examined by the
physical department, according jto
Professor Frank Kleeberger. Pro
fessor Kleeberger ascribes the falling
off of perfect physical specimens to
the cessation of military training.
WalterTMcGinty, a sophomore in
the college of mechanics, is the "su
perman" at the university this year.
He is not connected With any of the
athletics of the institution. Eight
other students registered high
grades. ,
Fifteen electric railwiv in Tv nor
land are operating a motor bus
service.
ADVERTISEMENT
To Cur a Cold in On Day
v G.r0K.,7' H?,.ATIVEi BROMO QUI
NINE tab!; .The uranulne bean th
Scent of Violets
Leads Empress to
Son's Jungle Grave
" ' MMMM '
London, Dec. 25. How the ex
Empress Eugenie traced her son, the
prince imperial, in Zululand along a
Clearance " Prices
Affect
Every
NO RESERVES our entire
stock of marvelous, at
tractive Blouses go at the fol-.
lowing reductions : j
Emporium regular QC
$5.95 Blouses ... $iVD
Emporium regular
$8.75 .Blouses
Emporium regular
$10.75 Blouses . . .
Emporium regular
$16.75 Blouses
All
xHlet-scented trail is described by Dr,
Ethel Smyth in Blackwood's maga-
z'ne
Accompanied by Sir Evelyn Wood,
the empress sought the cairn ot
stones in the Zululand jungle where
her son was buried, but the under
growth i had so encroached on ihe
spot that the guides were unable so
find it. '... i " v.
The princ ehadapassionfo rv i o
You Will Be Surprised at the Values
PRICES are cut below pre-war prices, and racks must be cleared.
Without jdoubt the greatest money-saving event ever offered
to the women of Omaha. Be an early Shopper. Prices are slashed,
to a mere fraction, of their actual worth. -NOT A GARMENT RESERVED.
Blouse
$4.85
$5.95
$8.75
Astounding Dress Values
Hundreds AjVill Share in -This Pre-Inventory
Saleyof Dresses ,
AND such value surprises as you will encounter
' here Stunning Dresses for business, after-
noon and evening wearf-Dresses that are typical
of this store's sale superiority.
. Tricolette., Paulettet, Charmeuie, Taffeta., Serge,
Satim, Velour Check, Tricotine, Georgette, Jersey,
Combination. v .
Beautiful Embroidered and Branded Dresses in all the most
favored colors. Many of the dresses involved are advance Spring
creations. ,. ' . x'
All Dresses worth $49.50, go in
pre-inventory tfi
clearance, at . . . w .OU
All Dresses worth to $35.D0 go
in pre-inventory dl Q Cfl' in- pre-inventory J CCA
clearance, at i. pM.DJ clearance,, at .. VTrT'eO"
All Dresses worth to $85.00, go v All Dresses worth to $59.50, go
in pre-inventory flJ1Q Cft t in pre-inventory CJOM'CA
clearance, at . . VwiOU f clearance, at . . ipOt.OU
All Dresses worth to $44.50, go ia IK
pre-inventory clearance, at. P0 y
! A Mighty Pre-Inventory
Clearance of Coats
A CLEARANCE that makes it possible for you
to buy luxurious coats at the LOWEST
prices ever quoted on garments of equal quality.
Coats for Every Purpose.
yoats in Every New Fabric and Color.
$35.00 to $39.50 Plush Coats, Coats of Cloth, in all leading
colors, Misses' and Women's sizes. t 1 Q Cfk
Choice in the sale Monday $ li.OU
$44.00 to $55.00 Plush Coats, Cloth Coats in Meltons, Velours,
Kerseys and Novelties, all colors. Choice in dnn pjf
the sale Monday . . . . . Pm.OU
$59.50 to $69.50 Plush Coats, pioth Coats in a wonderful variety
of exceptional styles. Choice in ' 4t1l Cft
the sale Monday'... , P4OU j
$74.50 and $84.50 Plush, Sealine, Silvertone and Velour Coats,
fur trimmed. Wonderful values y q pjA
in the sale, Monday, at Pt'Ov
And Better Coats Priced Accordingly
let scent; it sas the only toilet ac
cessory of the kind he used. Sud
denly the empress became aware of
a strong smell of violets. "This is
the way," she cr ied, and went off on
a line Tf her own.
Sir Evelyn Wood said she tore
along like a hound on a trail, stum
bling over the deadwood and tus
socks, her face beaten by the higl
giass that parted and closed behind
- -mT 'r- ; . !
All Dresses worth to $29.50, go
in pre-mventory d C AA
clearance, at .. PlO"vF
All Dresses worth to $75.00, go
Coats in Every Style
her, until, with a loud cry, she." fell
upon-fier knees, crying "C'est icil"
("It is here"). And there, hidden in
almost impenetrable brushwood,
they found the cairul
"The empress told me' (writes Dr.
Smyth) "that the first hiff of per
fume had been so unexpected, so
overwhelming, that she thought she
was going to faint But it seemed
to drag her along with it: shefelt
AiniiniOTLiiinice
Starting Monday
V i
re-m
Unp
'airaeeJie
A-'.'
Luxurious
Drastically Reduced in Price
THE golden opportunity to buy a Luxurious Fuc
Cqat of assured'qudity at a trifling low price
is made possible through this great Year-End
Clearaway.
$325 French Seal, 36-in. length
Coat, rich lined, year-end
price,
Rt.....
$189.50
$350 geayer Coat, 36-in.
length, a wonderful (tOfifl
value, at ........ PiUU
$375 French "Seal Coat, squir
rel trimmed, 36 inches long, a
bargain, in
deed, at.."T
$224.50
Fur Sets and Scarfs .Off
Hudion Seals, Sealine, Beaver, Blue Fox, Mink, Black Fox, Marten,
Squirrel, Jap Mirik, Raccoon, Mu.krat, Marmot, Etc.
Our immense displays of super quality furs are offered
. ' in this unusual Clearance at reductions ranging from
25 to 60, and every reduction affords a positive, 1
gratifying saving. ' f v.-
- . . - i : y a - :
y Pre-Inventory
Clearance of Suits ;
'. Most Vitally Important Suit Announcement
To Be Made by Any Omaha Store This Year
ALL former values and costs have been totally disre-
garded in this great determined clearaway of stun
ning tailored suits.
All $39.50 to $49.50
Emporium Suits in the Great Year-End Clearance bOO 7 EC
starting Monday, at. . vSO. O -
All $55.00 to $69.50
Emporium Suits in the Great Year-End Clearance tOQ 7C
starting Monday, at CtV 4 J
s . All $75.00 to $110
Emporium Suits in the Great Year-End Clearance JE flfl
starting Monday, at , J"0"vJ
All $125 to $150
Eniporium Suits in the Great Year-End Clearance CA
! starting Monday, at ; vO .Ov
All $165 to $200
Emporium Suits in the Great Year-End Clearance dJ'TQ CA ,
starting Monday, at.
Serges, Tricotines, Velours, Broadcloths, Silvertones, Poiret
Twills, Gabardines, Suede Velours, Tinseltones severely tail
ored, fur-trimmed, all colors, all sizes.
no fatigue and could have fought her
way through the jungle for hours."
Oil to Be Piped All Way
From Havre to Paris
, Paris, Dec. 25. Plans for the con
struction of the. pipe line to be laid
from Havre to Paris for the trans
port .of oil are completed and the
, December -27
veetoiry
d!
Fur Coats
$295 French Seal Coat, beauti
ful I y lined, pre-inventory v
S1".: $198.50
$250 Seal Coat, 36 inches long,
Australian Oppossum collar
and d 9Q
cuffs ....... f.. My
YOUR EVERY COAT IDEA
CAN BE MET HERE WITH
GREAT SUCCESS AND AT
PRICES UNBELIEVABLY
LOW. ,
work will be commenced in the
early spring. C. E. Beattie. a Cali
fornia txpert, is in charge of the
work, which he'estiroates wil! bu
completed about July next, permit
ting the transport of oil to be started
about October. The line will be a
little more than 200 kilometers in
length. It will bring about 250,000
liters of oil to Paris every 24 hours.
1
Sale