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Show DELEGATES ARGUE 'BLUE SKY MEASURE SALT b'AKB, Inly 26. More than a -.ore of delegates from western states are attending the annual con-irention con-irention of the National Association o( Securities Commissioners which open-id open-id in the Commercial club Tuesday The most important matter taken up Tuesday was consideration of the I unison un-ison blue sky" Piw passed by the na-i tionaJ house of representatives an'i now before the senate. Because stock exchanges of smaller cities, particularly in western mining -tales have criticised the Denlson bill I tor its limitation of exemption ol curitles listed on exchanges to those exchanges in cities of 300,000 population, popu-lation, special discussion was devo'-i ed to tills subject. I'lo Ijenis.m bill nhen it become a law will not hinder the bona fide owner of any security in offering the same for sale at whatsoever stock exchange ex-change he chooses, so long as the same ' is so offered In the ordlnar course of business and not in repeated tr,ins-i actions of like character The Den -son bill In so far as a stock exchanK" is concerned, will only apply to and restrain the Intensive campaign for initial distribution of securities or for genrral distribution for trading purposes pur-poses onlv |