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Show NEWlECURITIES LAW ADVOCATED Utahns Denied U. S. Act's Benefits Becsuse Utah la one of ths few statea still in th horse and buggy days so fsr aa its securities act la concerned, investor In this , atat ara denied benefits of th federal securities act of 1933 and th federal fed-eral exchange act of 18)4, A. Etra Gull, director ot th atate securities commission, reported Saturday to Governor Henry H. Blood. The report covering the fiscal year from July 1. 193, to June 30, 1A3T, recommended that an amended amend-ed law be passed by the next legislature. leg-islature. One recommendation was that a commissioner Instead of the three-man three-man commission administer the law and that a board of three be dea-ignated dea-ignated to hear appeals from rulings rul-ings by th commissioner. Recommended Rec-ommended amendments have been approved by tha National Association Associa-tion of Security Commissioners, by states in ths forefront of security legislation and by aecurity dealers In this state, the report atated. Tha higher returns to the state through fees from registration of 1 securities was attributed to the fact that Utah had solved its economics ' problems. Mining played a large role in this upturn, the report aet i forth, employing 10,902 workmen at an annual payroll of $15,358,813, or 18.9 per cent of Utah's total payroll. pay-roll. The department waa shown to have received $7189 in fees and to have expended $5954 in investiga- tion. i V Mr. Gull urged that auditors and I geologists be available to the com-I com-I mission when needed and the per-' per-' . sonnel incressed. i Ths report urged also psssaga of a new law to Include th real estate under tha commission's jurisdic-1 jurisdic-1 tion. |