Watered Stock Commissions Blue Sky Laws Stock without Par Value

Stockholders\u27 exemption from liability for corporate debts is a modern invention. It was not until 18x1 that New York extended that exemption to stockholders in manufacturing corporations.\u27 Massachusetts did not grant it until 1830.2 England did not allow it to stockholders in business and manufacturing cornpanies until I855. s As President Eliot of Harvard has pointed out, this privilege of limited liability is the corporation\u27s most precious characteristic. \u2

THE LAW SCHOOL AND THE STATE

On the legal profession rests the responsibility for the future of America. Now here else does the necessary leadership exist, and leadership, based on training, character and intelligence, will determine the future of the republic. The rapid rise of America to the primacy of the world; its vast wealth, power and population; its problems of capital and labor; its expansion of governmental functions; its diversity of races; its determination to preserve American institutions-all demand leadership of the highest order, and that can be found only in the legal profession. It is a problem of the ages. From Plato\u27s Republic to Carlyle\u27s Heroes and Hero Worship is a far cry but the central idea of both is right, namely, that leaders are to be sought for, organized, fostered, followed and favored by the social organism

A LETTER TO THE LAWYERS CLUB

The scope and purposes of the law schools will in my opinion rapidly expand. And the first expansion will be the inauguration of legal research. You have led the way. You have the first and so far the only research professorship. Professor Sunderland has blazed the trail and is hewing a road through the wilderness. And I think he is laying out the right route

Myeloid-Derived Suppressor Cells in Murine Retrovirus-Induced AIDS Inhibit T- and B-Cell Responses In Vitro That Are Used To Define the Immunodeficiency

Myeloid-derived suppressor cells (MDSCs) have been characterized in several disease settings, especially in many tumor systems. Compared to their involvement in tumor microenvironments, however, MDSCs have been less well studied in their responses to infectious disease processes, in particular to retroviruses that induce immunodeficiency. Here, we demonstrate for the first time the development of a highly immunosuppressive MDSC population that is dependent on infection by the LP-BM5 retrovirus, which causes murine acquired immunodeficiency. These MDSCs express a cell surface marker signature (CD11b Gr-1 Ly6C ) characteristic of monocyte-type MDSCs. Such MDSCs profoundly inhibit immune responsiveness by a cell dose- and substan- tially inducible nitric oxide synthase (iNOS)-dependent mechanism that is independent of arginase activity, PD-1–PD-L1 ex- pression, and interleukin 10 (IL-10) production. These MDSCs display levels of immunosuppressive function in parallel with the extent of disease in LP-BM5-infected wild-type (w.t.) versus knockout mouse strains that are differentially susceptible to patho- genesis. These MDSCs suppressed not only T-cell but also B-cell responses, which are an understudied target for MDSC inhibi- tion. The MDSC immunosuppression of B-cell responses was confirmed by the use of purified B responder cells, multiple B-cell stimuli, and independent assays measuring B-cell expansion. Retroviral load measurements indicated that the suppressive Ly6Glow/ Ly6C CD11b -enriched MDSC subset was positive for LP-BM5, albeit at a significantly lower level than that of non- fractionated splenocytes from LP-BM5-infected mice. These results, including the strong direct MDSC inhibition of B-cell re- sponsiveness, are novel for murine retrovirus-induced immunosuppression and, as this broadly suppressive function mirrors that of the LP-BM5-induced disease syndrome, support a possible pathogenic effector role for these retrovirus-induced MDSCs

The CD154/CD40 Interaction Required for Retrovirus-Induced Murine Immunodeficiency Syndrome Is Not Mediated by Upregulation of the CD80/CD86 Costimulatory Molecules

C57BL/6 (B6) mice infected with LP-BM5 retroviruses develop disease, including an immunodeficiency similar to AIDS. This disease, murine AIDS (MAIDS), is inhibited by in vivo anti-CD154 monoclonal antibody treatment. The similar levels of insusceptibility of CD40−/− and CD154−/− B6 mice indicate that CD154/CD40 molecular interactions are required for MAIDS. CD4+ T and B cells, respectively, provide the CD154 and CD40 expression needed for MAIDS induction. Here, the required CD154/CD40 interaction is shown to be independent of CD80 and CD86 expression: CD80/CD86−/− B6 mice develop MAIDS after LP-BM5 infection

Book Reviews

This is a book that every lawyer should read and every law student should be required to read. It is the culminating work of a masterly mind that for over fifty years has been studying governments, ancient and modern,\u27 and meantime the writer has had the practical advantage of holding high and responsible offices, including that of British Ambassador to the United States. Viscount Bryce speaks plainly of American national, state and municipal shortcomings in government, especially the last, but it is done in a kindly vein. He is a friend of America and gives us credit for much