743.12 BONA-FIDE MERCHANT.

   No license for a public auction, going-out-of-business sale or distress merchandise sale shall be issued for the sale of goods, wares or merchandise of an applicant other than to a bona-fide merchant of the City. No license shall be granted to an applicant who sets up an establishment or to an applicant who acquires an interest in an establishment solely or principally for the purpose of conducting a public auction, going-out-of-business sale or distress merchandise sale. (1967 Code §115.28)