Show I SEEK EK 25 MORE MOREs Ua S INSPECTORS Securities Commissioners V am of Mismanage Mismanage- Mismanagement ment Hazards NEW NEV YORK Sept 2 By 8 By The Associated Press Press him him- himself self colt as a one ono who has been Senator 0 O H It Moses Mose ot of New Hamp Hamp- Hampshire Hampshire shire Monday told tho the annual con con- convention con convention of or Iho the National AssocIation of Securities Commissioners Commissioners- that ho he would urge ure the Senate to o Iho ho appointment of ot 25 trained in- in in In to combat fraud through the tho malls mails Asserting that the tho malls mails are be bo be- be belag being ing lag deluged with fraudulent litera literature ture lure ho declared these theao Inspectors it if appointed would save savo stock tn- tn in investor vestor millions ot or dollars dollar The Inspectors h appointed during th thu past year in the he h postoffice depart depart- department mont ment aro Inadequate to handle the tho situation ho he h asserted H If C Hicks of Utah Ulah president ot of ho warned against the increasing hazard from tho grow grow- growIng growing growing ing first mortgage or leasehold bond business In this country Ue lIe asserted that Investors during the past year lost from frn tall fail failures ures resulting Iron from over appraisals I mismanagement and other causes Tracing Tracing- the growth of o this type or of business from to annually In a 11 perIod 0 of 10 years he said Tho TIme bu business has reached a 0 0 con con- condition con condition dillon where many of or these thesa bonds aro am hazardous and it Is necessary for every commissioner to make mako a most examination examination most thorough examinatIon ot of every typo ot of security We have hll reached a stage stae In this class of at securities were In many cases receiverships have ha become sary long before the tbd building have been completed |