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coal mines and we set aside a royalty even though we are mining our own premises, and we call that royalty our profit."

And so I stated here that there may be in the business of mining a gain over and above the value of the capital converted. That gain is income. But can you find it?

Justice Pitney in the oral argument thought that there was such a gain. I confess I can not find it. I take issue with the statement that these proceeds of mining operation are income. I know that years ago I used to hear mining men talk about the income from their mines, but I do not hear conservative, successful mining men talk about the income from their mines. They know better. They talk better. That is, they talk a different language from that. They know that it is converted capital.

I am very much obliged to you for the discussion. I have enjoyed it. (Applause.)

President Dubbs:

Is there any further discussion on either paper? If not, the regular order of business for the afternoon seems to be at an end. Is there any special matter which any person desires to present?

Edward S. Worrell Jr.:

It has been customary for the President to appoint a committee on nomination of officers. I move that a committee of five be appointed by the chair.

The motion prevailed without dissent, and the chair announced that the appointment would be announced the first thing tomorrow morning.

Secretary Wadley:

I have communications from the Colorado Springs Golf Club, extending to the visiting members of the Colorado Bar Association the privileges of its club house and grounds, and also a com

munication from the El Paso Club advising us that the privileges of the club were extended to the members of the Colorado Bar Association during its stay in Colorado Springs.

President Dubbs:

If there is no objection, the Secretary will be requested to acknowledge the courtesies extended to the Association.

Is there any further matter for consideration this afternoon? If not, this meeting will stand adjourned until 8 o'clock this evening, when we reconvene at the Antlers Hotel to listen to the annual address.

A recess was here taken until 8 o'clock this evening.



8:00 O'CLOCK

President Dubbs:

Friday, July 10, 1914.

Ladies and gentlemen, it is a pleasure to present the speaker of the evening, the Honorable Charles Nagel, of St. Louis, who will deliver the annual address on the subject "The Growth of Our Law."

I take it that any further introduction is unnecessary. (Applause.)

Charles Nagel:

Mr. President, Ladies and Gentlemen. I need hardly say that I could scarcely justify a trip from St. Louis to Colorado Springs by the thought of any message that I might be able to deliver here. To be honest, the invitation was very promptly accepted because I was glad of an excuse to come. The fact is that we who live in the middle west enjoy a view of this country. These hills are an inspiration. Somehow it brings us nearer to the universe than our own scenery, and especially than our own city life ever does. Furthermore, I was glad to renew my acquaintance, and, as I like to think, my friendship with some few people here, and more especially with Judge Lewis, whom it was my privilege to meet in the early days in Missouri, when men's souls were tried, as they are now and as they always must be.

The subject which I have selected, more especially the treatment which I expect to give it, I recognize to be a somewhat dangerous one. But I am an optimist, and being an optimist, I believe that there is very much more of goodness and virtue in this world than we are commonly told. I believe that accounts often give us a distorted picture. Vice is a good advertiser, and virtue is not. I believe that there is very much more of self-help, and that the best things done in this world are done without order and

without instruction, and for that reason in my judgment the growth of the law depends very much more upon the souls and the virtues of men and women than it does upon any legislative orders or edicts that can be issued.

(For the address, see the Appendix.)

A recess was then taken until 9:30 o'clock tomorrow morning.


9:30 O'CLOCK A. M.

Saturday, July 11, 1914. The meeting was called to order on the veranda at the Broadmoor.

President Dubbs:

The chair appoints as the Committee on Nominations, Mr. Trimble of Pueblo, Judge Searcy of Durango, Mr. Farrar of Fort Collins, Mr. Haynes of Greeley, Mr. Worrell of Denver.

The first order of business this morning is the report of the delegates to the American Bar Association.

This report was presented by Hugh McLean, for the delegates. (For the report, see the Appendix.)

President Dubbs:

If there is no objection, the report will be received and filed. The next order of business is the report of Special Committee on Promulgation of Rules by the Supreme Court. In that connection, we are glad to announce that the clerk of the court has forwarded copies of the rules for distribution here today, and they are now available.

Horace G. Lunt:

Mr. President, and gentlemen, owing to the absence of Judge Rogers I have been requested, as a member of the committee, to make a short report.

(For the report, see the Appendix.)

Horace G. Lunt:

We desire to say one word further in regard to those rules which are before you. I think we all as lawyers are rather prone

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