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Show Securities Commission On the Job In the three years time the volume of business to come before be-fore the Utah State Securities Commission has increased from approximately $15,000,000 in volume to $63,3.4,870 for the fiscal year ending December the 1st, 1 1)23, according to the annual an-nual report of the Securities Department De-partment just presented to the Governor. During that time the Securities Department has operated op-erated at a cost of approximately approximate-ly $20,000 to the State and has during that period netted the State Treasury approximately $30,000.00 above all expenses. Through a system of strict regulations the Commission has been enabled to protect the public pub-lic from purchasing worthless stock very materially, and with each year greater protection is being given- Warnings have constantly been sent out to the people to beware of ficticious stock salesmen and promoters, and the department is ready at all times to furnish information relative to the standing of any company that has applied for a permit. Through quick action the Com mission has been able to block the sale of many thousand dollars dol-lars of worthless stocks from the Texas fields, and no less than a dozen of those indicted last sum mer were prevented from doing business in the State of Utah. More than two million dollars of securities that were going to be offered for sale have been withdrawn because the plan did not meet the approval of the Utah Commission. The Securities Commission makes no recommendations what eVer in the sale of securities, but is using every effort to see that the moneys invested with the various companies is properly" expended and the state developed develop-ed through these expenditures. The Commission has now reached reach-ed a state of efficiency that has placed it in a very favorable position po-sition among the standard commissions com-missions throughout the United States and millions of dollars of securities are qualified each year for companies who desire to finance through the East and on the Pacific Coast. |
