Evening Republican, Volume 23, Number 46, Rensselaer, Jasper County, 21 February 1920 — FAVORS BLUE SKY LAW. [ARTICLE]

FAVORS BLUE SKY LAW.

Anderson, Ind., Feb. 20.—Edward C. Toner, editor of the Anderson Herald and candidate for the Republican nomination for Governor, at a banquet of Madison County citizens given in his honor here, tonight asserted that the State would be guilty gross negligence if it did not, by the enactment of a strong Blue Sky Law, drive from the State unscrupulous promoters of worthies enterprises and said that more Indiana money is being annually lost in wildcat enterprises than it takes annually to run the State Government. Mr. Toner declared that if nominated and elected Governor he will use his executive influence first to put an end to these commercial vultures and to provide for the co-operation of the State Government with commercial and civic organizations for the upbuilding of the economic life of. Indiana. » .

Mr. Toner said in part: “There has never been a time in the commercial history of the State when there was greater need for safeguarding our people against these pirates of wildcat business. The spirit of the Mississippi Bubble again walks. You can scarcely enter a hotel tonight in a city or town of Indiana without finding registered there one or more of these dealers in worthless securities. That means a loss of more'money than is required to pay the expenses of the entire State Government during the same length of time.” “The crying need of the hour is production; but production means expansion; expansion means mqre capital; and more capital can only come from the accumulated savings of the .people placed at the service of the busines development of our State. Yet, while legitimate business is pleading for money, millions of the people’s savings are being lured into fictitious enterprise.” “We must turn into channels of legitimate enterprise the millions that are now sunk in wildcat venture. I pledge myself if elected Governor to use all the power of the executive to secure the enactment of this measure for the protection of our people.