An example of the power of the federal authorities was given when
Secretary of State Rose of Illinois was trying to keep the swindling
investment companies out of the state. This was before the enactment
of the present law regulating the licensing of corporations. A
number of concerns had been formed in southern states, and they
were insolently demanding licenses to do business in Illinois. The
secretary of state was powerless under the Illinois statutes, but when
the matter was called to the attention of the federal authorities they
wiped out the whole lot of companies with a postal fraud order.