Show I Bucketing Going On Here 1 By Ira C. C Tichenor E Salt Lake mining market continues to decline forced each day a little lower by the closing out of margin accounts At Atte t tat at ate te the stock in these accounts accounts' is being thrown on the market should be but little margin st stock ck left with the various brokers r this class of business on the local exchange of often otten ten wonders if It the local brokers are arl doing a strictly legitimate f in by purchasing the stock they they are arc carrying on on margins margins' and andoff t off ff the market as no do doubt bt is the Intention of their customers Who I orders with them It is declared d that some some brokers who have but little littles t s and no credit with their bank have been accepting margin up to an any amount It would lead on one to to b believe tl that t these brokers are areg In g their transactions on their c cuffs s which Is the common commod term used bucketing margin purchases es sky law put through the the 1019 1519 session of the state legislature Slature Representative Cardon of Ca Cache he county defines bucket bucketing ng t transactions I n 3 This definition plainly covers margin trades money Is ved ed as ns a partial payment on the purchase of stock and where no sto stock k kIy Iy purchased It provides' provides further r for the examination of a brokers broker's an authorized agent of the securities commission and a a maximum jt Ity Of bf a fine tine of or a term In the stat state state- prison prima of not more than thans years s for tor the Infringement of this law there Chere has been non complaints made to to the blue bl blue e sky commission and I is presumed that if It there are an any any dissatisfied who I heIr trades have ha not been handled handled In a leg legitimate manner manne It Is Isor Isse se or of their lack of knowledge of this la law If a customer customer believes that roker is not actually carrying the stock It might be the part of ot wisdom inder nde r him the request that the stock be delivered It If he be with the request there wo would ld be but little doubt that your had d been bucketed and as a good citizen n the customer should make to to the securities commission Picketing margin transactions is the most pernicious feature of ot a stock i inge m The stock that should through its p purchase lend lend Its Us support to and thereby enhance the value of the he security the customer has hasIs hass s not bought and the order may may Just as we well l have not been placed CUS orner amer d deposits additional st stock ck as security against a further pur- pur Is the bucketing broker would t throw the stock on the tle m market ket A Ame Ame An n me has has' a legal right to demand the return of th the Identical certificate sited Tu ted and d If It It is 15 not forthcoming he has a right to believe that the ho converted the stock for his private o is doing the trading has con own Iw fife public would follow follow-a a few simple trading rules of this nature the jaks in the market would not be so occur an and the market on oni would uld show advance and not a aX i in which they were wire Interested an X Cardon ardon framed a blue sky law for the tho protection o of the speculating Its ts enforcement however Is I In t the e hands o of the investing public |