Show economic Econom tc highlights 1111 PI edg thai afat th the ilo arr P I 1 ih Di idd ch cliento k bud d T tita kill bill 0 of every indi id 1 national nati al and int tao irot 1 lein inee inseparable In paralIe parable from J A short time ago the rules and regulations 0 of procedure under the now federal securities act designed to protect american investors against worth worthless loss stock issues dishonest and misleading investment claims were made public restrictions are strict definite decisive underwriters roust must file with the federal trade commission full particulars before they can sell new securities statements will he be studied by commission accountant tants balits thereafter the commission may either permit the sale or cause the securities to be withdrawn registration statements will be open to public inspection and copies will be furnished at moderate cost coat to interested parties any sales prospectus issued by tile the security sellers must likewise be tiled filed it will be studied with a view to determining whether it omits any information necessary ra to decide tile the value of the offering ott ering whether it Is misleading not sufficiently clear at etc c in c case a g radio broadcasts are to bo be used in pro pr motion these too must b be given n commission approval A large amount of technical information will be a required by the commission when registration Is made it includes names and addresses of all persons persona owning more than 10 per cent of any class stock of the security issue remuneration exceeding c a a ding paid by the stock issuer during past year and to director officer tile the estimated net i proceeds to be derived from the security commission costs will be borne by a registration fee ot of one hundredth of one per cent of tile the maximum aggregate price at which the securities are proposed to be offered thus the new bill Is more sweeping swee P in its requirements than any similar measure we have ever known the strictest state blue sky law pales by comparison what effect so drastic a law will have on legitimate promotions where there la is room tor for honest difference of opinion in making statements and reports report Bf remains to be seen As tile the always vivid frank kent aa said id in the baltimore sun tile the extraordinary tra thing of the moment Is that recovery has baa come before the recovery covery Te program has gotten S started none of the three billion public woi dis dollars have been bean spent the first agreement under the industrial control act has just been signed and has not yet had bad time to produce results the vast farm plan la Is still lii inthe the prospective stage yet business Is looking up all kinds of businesses la in all parts of the country the psychological effect of bills designed to baid aid recovery unquestionably were a factor in getting wheels in mo tion ion domestic prices recently reached the highest level in close to two years current upward movement has las been the best sustained la in more than a decade in 66 business days the dow jones average of 40 corporation bonds rose 1433 to particular bartic olar business items of interest follow postal receipts ne from froin so 60 cities show improvement of 1355 per cent lu in june as compared with previous june dank bank deposits substantial gains made in second quarter power production Is making steady and sharp advances car loadings about 25 per cent better than last year at this time railroad earnings expenses are down clown and gross gr 0 sa revenue up presaging greatly improved net income co a showings steel at highest point since i april 1931 exceeding 50 per cent of capacity wholesale prices steady advances registered week by week recent gains included farm products product f fuel light lighting ng metals building materials household goods etc stock of goods stock of finished goods in hands of distributors are still low and active demand will be reflected in re stocking E employment payrolls showed n moderate increases recently more aggressive advances expected in a near ear future beginning to talk already a hout about the next congress which coave convenes 11 as january 3 for its first regular session tax changes reciprocal tariffs bankruptcy revision veterans benefits war debts here are a to tow w of the principal economic social subjects that will be thrashed out it Is an open secret that mr air roosevelt la is not through with his program he got much out of the last congress and he will ask much from tile tho next ho he will doubtless have introduced a sweeping revolutionary lutio nary banking bill which will eliminate state and private banks another prospective proposal ot of vast importance Is a tr transportation act to bring railroads highway carriers barge lines and air vehicles under centralized regulation again it la is believed that the securities bill drastic as aa it Is will be made still more rigid and foolproof |