Show BLUESKY BLUE SKY IN MONTANA A dispatch from helena montana states that stock brokers in that state will not be permitted to advertise probable raises in the price of stocks or to publish quotations other than those listed upon some stock board under a decision rendered this morning by state auditor george porter who is investment commissioner under the provisions of the bluesky blue sky law the state investment commissioner has authority to object to a broker offering any particular stock for sale and he says he expects to make use of this authority to protect the investing public the matter is covered in a letter sent by the commissioner to the stock brokers in butte today after calling attention to the provision of the law that gives the department the right to object to the sale of any stock offered by a broker the letter goes into detail as to the making of quotations upon oil or mining stocks private information giving quotations on stocks cannot be recognized as a basis for quotations on unlisted stocks as such quotations usually originate from the companies offering the stock says mr porter stock brokers must give reliable quotations on stocks in their advertisements or refrain from making quotations at all any quotations made on oil stocks must be from reliable sources a and nd not from individuals must be stock board quotations or else they have no weight as quotations the department does not approve of advertising as a probability values to which the stock may be expected to rise in certain contingencies mr porter also says that he is determined to enforce the provisions of the law which make it incumbent upon companies selling stocks in their own or other concerns to have their advertisements approved by the investment commissioner |