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Show JUNE 29, 1970 OIL & MINING JOURNAL PAGES SEC vows to relentlessly pursue old, inactive shell corporations We are going to pursue shell anemic corporation Often, in a shell game, the corporations relentlessly, manipulator and friends will buy ng and the Securities country-includiExchange and sell the stock among throughout commissioner warned in Salt Utah, he said. to generate an themselves Lake City last week. A Shell is an inactive inflated price. Others jump in to The industry is concerned make a quick profit, often corporation with tapped-ou- t about them, and we are very assets and outstanding sliares ot without knowing just what the concerne- d- you might say stock, some of which a companys credentials are. The disturbed, said James Needham, manipulator may sometimes insiders bail out, leaving the Washington, D.C. to start an latecomers with a worthless acquire and of old, active market. stock. Manipulation The SEC will soon require all brokerage Arms to have more information on a company before creating a market in a VOOQI? stock. In some cases we find a Continued 4 from Plage company stock selling over the M counter is quoted in different Dear Mr. Blackburn: of the country only Isnt it true that buying almost any stock and holding it for parts because a promoter has gone several years will be rewarding? Walter McCantz through town and generated a financially shells continues to be a problem . 000 W&atsy J Dear Mr. McCantz: Not exactly, although that is often the case. But to prove my point that money management is imperative why dont you take out your pen or pencil and mark down how you think the following stocks did from 1959 to 1969. You will find the answers at the bottom of this column. interest. At the same time, he added, the industry itself is already practicing this policy. There has been, in the past 10 months, an effort by responsible brokers and attorneys to get more information out on a company, such as its background and amount of outstanding stock. Instances have been reported to me where brokers have refused to trade a security unless given sufficient information on it. Mr. Needham said the SEC Dear Mr. Blackburn: What is a stop order M.C.R. Dear Sir: This is a technique wherein the investor places a sell order almost immediately after he buys the stock although he may have every intention to keep it six months Does that sdund confusing? Lets assume you buy a stock for $21 a share. And you expect it to be $40 a share by the end of the year. But, as a wise investor, you have learned that stocks sometimes go down when you least expect them to. So, in order not to sustain a bad loss on this particular issue, you tell your broker as soon as you buy it that he is to place a stop loss order to sell the stock at $19. The order is placed in the records of the brokerage house and as long as the stock stays even or advances above your cost, nothing happens. But just as soon as it takes a dip or starts to fall because of some adverse economic condition, your sell order becomes effective. Ill bet that youve got a stock or two that you wish you would have had a stop order on just after you had bought it last year! needs the help of the business community. I think members of the bar are an important ally of the SEC and particularly in enforcement matters. . .lawyers are an arm of the commission and help us. The accountants go one step further in helping us, said Mr. Needham, himself a certified public accountant. Concerning shells he added: No one has ever told me as a commissioner the underworld is involved in the shell game. , T -- Brokors, Undon&ritora. B Mining Componios Wo Understand Your ffoods If you havent written in your answers, you might want to tear out this answer section and test you spouse or at the office. Even the most knowledgeable person has to look bad after taking such an co-work- er exam. Remember: Original investment was $10,000.00. it For the week of June 28th thru July 4th facilities for Shareholder Reports Prospectuses Financial Statements You to almost opportunity double your income when you make an adventurous resolution about a big change. Relax Richard Blackburn, Las Vegas SUN PTO. Box 4275, Las Vega Nev. 89106 rnmmma PRINTING & LITHO 2700 W'.UAWI. or 298-37- 03 may take some time to results hear of an Others are investment. working in your behalf, so your fingers for benefits that cheer the ego and make you more attractive be patient. SAGITTARIUS outwardly. Nov. 23 thru Dec. 21 Any investment in the products of health will bring great dividends rolling your way. Try some of the better ones on yourself. GEMINI May 21 thru June 20 Good things can begin to happen in your career. You may find a lifelong desire that can come true through investigation and follow-u- CAPRICORN Dec. 22 thru Jan. 19 Pay your share of all bills' that pile up through mutual p of opportunities. CANCER . 21 thru July 22 June investment. Love can give your life untold gloom at this time. Stick to investing money and leave romance to the frivolous. AQUARIUS Jan. 20 thru Feb. 18 Fling practical matters aside for awhile and give yourself a period of sheer July 23 thru August 22 Communications These expenditures may prove to be the better area for your pocket book. LEO are enjoyment to find a refreshed financial outlook. PISCES Feb. 19 thru March 20 you. VIRGO August 23 thru Sept. 22 may find the price suddenly raised on stock you hoped to buy. You may have to change your plans because you didnt understand the fine mint. A special chance can come to you now. Take it! It will prove to have even more value in the future than can be seen now. eg Inc; Securities, Main St. Silt Lafca City, Utah 84111 - BONDS - MUTUAL FUNDS WE MAKE A MARKET IN THE FOLLOWING STOCKS: Blue Mountain ' Mercury Metals Classic Mining MicroBiological URBC0 Ebony Oil WEST Orders execu tea on all local 487-07- 68 It sterner attitudes about money, and let a little of it slip through your STOCKS COUTH yourself. SCORPIO Oct. 23 thru Nov. 22 TAURUS April 21 thru May 2 337 So. 479 the have may Sept. 23 thru Oct. 22 Results will be best when you apply yourself to your without responsibilities in any other looking Check the direction. balance before you over tax Continental Buy, Sell Orders, Etc. YOUR MONEY" appears weekly in tha Rocky Mountain Oil ft Mining JoumaL If you haw a question, unite: LIBRA ARIES March 21 thru April 20 You Stock Certificates TTS By Merle Cox interesting, and they may lead to an exciting proposal that will be of profit to Printing & Mailing OK, here are the answers to the quiz above. FINANCIAL FORECAST (801) Over-the-Count- 521-714- 0 er Stocks |