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Show PHONE COMPANY MAY SELL STOCK ; salt LAKE, Sept. 29. Because I i njt treasury stOCli and does no. increase the capital siock Issue of th : American Telephone A Telegraph I ci iii.any, the securtlies commission yesterday decided thai the plan ol thi Mountain States Telephone - T l. graph company to advertise and scl the American Telephone & Telegraph company's stock in l&ah did not com under the Jurisdiction of the securities . onnUsslon. 'lb.- .1oiintalli S'at-.-s i,eg;iii an ad rvertlslng ea&npaign sotue time ago but desisted until the question ol thi applicability of the state securities l.iv. I to the- situation could be determined. 'Che Mute commission also formaJb I ipted the policy of barring .so-called '3 per cent companies" from the Utah Id. Such compaules arc already arred from several states having blue sky" commbialoners. The par-4ioi.ii par-4ioi.ii company whose application was before the commission was th i nited Home Builders association with lieadiiuarteis m St. Louis. The k.ompan) operates by selling certlfi-. cates on thi installment payment plan, and nurniji i iri the . . rtiMcat- s. Iach certificate holder is. in turn, entitled to a loan of a specified amount at 3 pel i. nt iillel . rl. jU-t as SoOII as his tain comes, ihe commission considered consid-ered tne rlfek tit the person investing j in sui b a plan too liasardOUS, and dls-upproved dls-upproved of the m.-ihods generally ,.i ipted bj Buch associations of doing business. OGDE.N REQ1 I S?l Application of tn Wasatch Athletic clnD of I igden to sell 500 shares of Its 'stock at $io par was referred back for. j further Investigation concerning representations repre-sentations thai have been made to the ! commission. |