tangibility is concerned. It was only when he actually took from
investors money sent to him to buy real stocks, and pocketed it,
that he was put in jail.


LAWS TO PROTECT INVESTORS

A plan for the protection of the investor by statute is embodied
in a model law drafted by the American Mining Congress of Denver,
and recommended for general passage:

AN ACT.

To Prohibit the Making or Publishing of False or Exaggerated
Statements or Publications of or Concerning the Affairs,
Pecuniary Condition or Property of Any Corporation, Joint Stock
Association, Co-partnership or Individual, Which Said Statements
or Publications Are Intended to Give, or Shall Have a Tendency to
Give, a Less or Greater Apparent Value to the Shares, Bonds or
Property, or Any Part Thereof of Said Corporation, Joint Stock
Association, Co-partnership or Individual, Than the Said Shares,
Bonds or Property Shall Really and in Fact Possess, and Providing
a Penalty Therefor.


Section 1. Any person who knowingly makes or publishes in any way
whatever, or permits to be so made or published, any book,
prospectus, notice, report, statement, exhibit or other
publication of or concerning the affairs, financial condition or
property of any corporation, Joint-stock association,