Show BLUE SKY LAWS ARE CRITICISED CRITICISED Investment BanKers Say Restrictive Legislation Has Reduced Profits CHICAGO O Oct t. t 29 Suggestions Suggestions' forthe currency bill adopted at a meeting of or orthe the Investment Bankers' Bankers association in convention here hOle were forwarded to Senator Sanator Sen San ator Owen toda today What they were was kept secret At today's session the reports o of the committee on Ie legislation read by A. A Q O. Hoyt of at New Neo York ctt City and of ot th the committee committee com corn on ont taxation presented by Frank Frankw W W. Rollins of Boston were ere n adopted opted The Hoyt report criticised various state In laws WB especially blue sky sk acts which latter the tho report declared were crude Ill III con considered l legislation passed b by unconfirmed firmed legislators legislator doing some good and much harm Profits sale eald Mr Hoyt have ha not In Increased increased increased in- in creased with the increase in the volume of or business a condition largely due to restrictive le legislation such aa as the fun full crew law laws with respect to safety fety devices device hours of service and tho the like Formerly said the report re French and Dutch investors regarded the United States as their favorite now their mone money Is going to South Africa and their own onn respective colonies The American Investor suffers flutters likewise The financing of or railroads is Ii getting more more difficult continued tho the report Unless there Is 18 a change the prosperity of or the country countr will be affected seriously Some states like T Texas xa hOW however hOWer er ar are doing better etter In the hope of or attracting capital and in other othIl directions there are indications or orr improvement forced b by gloom loom of or the situation Mr Rollins' Rollins report principally with the tho income tax law the burdensome nature of or which it said Bald could b be prove proved only by living under tinder it It was resolved to employ counsel to represent the association association tion J in n test cases canes at law to determine the he meaning of or disputed points point |