Based on my reading of O'Henry stories, my guess is that law exists because people were selling stock in scam mining companies with mines in the West back in th

Based on my reading of O'Henry stories, my guess is that law exists because people were selling stock in scam mining companies with mines in the West back in the late 1800s / early 1900s. If you had to advertise that you were starting a business, then people could look up your company and discover that it is unlikely that your company had $$$ of gold deposits in Colorado.