Show Licenses Proposed a For Unlisted Trade WASHINGTON March 16 UP UP- UP Securities and exchange commission officials today awaited reaction to a proposal that dealers and brokers engaging engaging en en- in the the over securities securities business be compelled to obtain a federal license Drafts of the tentative proposals were sent to more than 1000 brokers dealers state security commissions and associations by Commission Chairman Joseph P. P Kenney who asked their opinions opinions He He emphasized that the proposals which the commission corn com mission has been studying for or the past six months are ae only tentative i the Over securities securities' are those not traded or listed on na national national na- na stock exchanges This business runs into billions of dollars annually in at least stock issues There arc about brokers and dealers handling these securities |