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Show Ptotecting Investors j Though differing slightly In some of ' the states, the blue-sky laws are much i alike in their essential features. They ! are designed to regulate the sale of 1 stocks, bonds and other securities, hut I in practice their application has been ' extended to a wide range of invest- i ment enterprises. The law usually ; contains a pcn-al clause prescribing 1 penalvy for fraud In the sale or ne- I gotiavion of securities and wst3 In a i certain officer or body the power to ' Investigate all transactions of this kind. j |