Salt Lake Telegram | 1933-06-23 | Page 7 | U. S. Securities Control Form is to be Intricate

U. U ILS S S. S Securities 1 Control Form Is IsTo IsTo To roBe Be Intricate Income Tax Blank to Look Like Primer Alongside Form Being Proposed for Stock Issue B Br By As Associated WASHINGTON June 23 An 23 An In Income ln- ln nome n- n come ome tax blank Is b going to look like a primer alongside the forms that Issuers of stocks and bands bonds will vilt have to fill out for the thc federal trade trad com corn mission Designed to halt the sales of Unsound unsound unsound un un- sound Issues the new securities le u- u lation law requires that the seller give 32 different kinds of ot Information to the commission This will vill be bem em embodied m m- m bodied in applications for permission to float stocks When the pertinent etine t facts are all to together together together to- to gether the investor who wants the lowdown will have some digging to do The commission will make no no effort to Interpret the Information for forthe forthe forthe the general public But the atle attested ted facts will be available at the commission commission com corn mission for inspection Among the things the would would-be buyer can find when he inspects the commissions commission's files filos will vill be The names of the issuing corporation corporation corpora corpora- tion Lion and its officers and directors The salaries bonuses bonuses' and the like paid to directors and officers The reason for the issue its price prie prieto to the public and md all commissions pi-id pi for Cor the security How much of ot the business is owned b by ay each director officer or stockholder stockholder stockholder stock stock- holder who holds more than 10 O per cent The names of the lawyers who said the Issue wa wai legal A balance sheet showing all assetS and liabilities of the corporation and profit and loss los for tor the two preceding ding years By the end of ot next w week k commission commission commis commis- sion slon experts expect to complete heir their drafts of ot the schedules that corporations corporations corporations corpora corpora- must use to tell teU their tories stories before selling stock Meanwhile these experts are puttIng putting putting put put- ting in lots of overtime As yet no noone noone noone one has been designated to head the new securities division of the com corn mission Just now B. B B. B Bane commission commission com corn mission attorney is acting chairman of the committee preparing forms and md writing regulations for enforcement n nt of ot the new law described by President President President dent Roosevelt as one that will re replace replace replace re- re place the adage Let the buyer oe- oe ware with Let the seller beware S. S