Show l tb TO To Correct Asse Assessment Abuse I IBy By By Ira C. C Tichenor I r j OST ST certainly the board of governors of the Salt Lake Stock I V f J L exchange is to be congratulated on behalf of the holders of sto stock k of listed companies which are forced to resort to assessments to raise iise capital for development operations in adopting a resolution Inv Inviting nl all such uch companies to hold their assessment salea saIe on the floor of oC the exchange Thle ThIe action on the part ot of the governing board followed the publicity n in this paper In connection with an assessment sale conducted about ten tm days ago at which a syndicate ot of brokers whose e bids were Invariably It is stated for assessment and cot costs was able to purchase approximately 00 shares at a price equal to less than a fourth of oC the usual selling price on the open board and then to dump the stock on tho the market thereby breaking the price but still sun making a profit of oC possibly per cent ilL jit It also alo followed the publicity given in connection with another assessing assess assess- ing sale aale at which there was real bidding and as a a. result of ot which the de delinquent delinquent de- de stock tock was sold at prices averaging that of the tho market value thus m malting a no refund to holders of oC delinquent stock about four fifths of their shares s as aa compared with none nono In the first named affair A As a a. safeguard to the tho interests of their stockholders It Is to be hoped tha in the future all an assessment sales of ot stocks listed on the local exchange will wUl be held on the floor of oC that Institution It will then be up to the stock stock- stockholders holders hUers themselves es and the Investing public generally to protect their hold- hold tsa toJa or to create a real market for the stock that is offered at the forced sale As declared on several occa occasions lons In this column columns It Is not the tho Intention to cast a v reflection upon all assessment companies or 01 upon the exchange as a whole In connection with assessment sales at which collusion was suspected I It Js Js only the exception to the rule that attracts attention to any c company ni n or to certain brokers who have been in the habit of ot following the ass ass' assessment flock and occasionally picking off ote a straggling Iamb Jamb I That rhet there are are such is admitted by one broker who is quoted as saying that as for collusion there has always been a means of oC prevention but it probably will be adopted at sales in the future as soon as this little spasm of ot goodness dies down Warning might as well be issued to brokers of oC this class right now that that little spasm of oC goodness will not be permitted to die dio down If publicity in iii connection with all aU future assessment sales can keep leep it alive e |