The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-06-03
FAVOR LISTING OF;
INDUSTRIAL STOCKS
Business Men Generally EX-
press Hearty Approval
of Plan.
TO PROTECT INVESTORS
BY Calling Securities on Stock
Exchange Publicity Would
Be Gained.
70 PROTECT INVESTORS

There is q movement on foot TO have
local industrial stocks listed and rogu-
larly called on the Salt Lake stock ex-
change. lust as mining stocks are han
died at the present time.
Those who are promoting the idea
hold that this Treatment Of industrial
stocks would give regular publicity to
prevailing values in all Of them. Un.
der the present system. these industrial
stocks are handled chiefly by two stock
and bond brokerage firms in the city.
II one desires 20 buy OF sell any ot
these securities he lis obliged 10 go 10
one of these two firms TO do business,
except be should happen 10 personally
know some individual who has stock
to sell or who desires to purchase
Reasons for Plan.
1t is contended bv advocates of the
listing idea that there is too mnrh rF'-
yacy in these transactions rs now con
Quoted, leaving the intending buyer III
comparative ignorance Of actual val
ues. If the stocks are listed on the
stock exchange. and are called daily.
as are mining stocks, the public Is
every twenty-four hours made aware OF
possible values and fluctuations An
other desirable feature about the iist'
ing idea, according to its proponents
is that anv holder of industrial stocks
will be able to use them as security
for bank loans. with competent knowl,'
edge on the part Of both lender and
borrower concerning the value of the
proposed collateral.
Several business men OF the city
have been interviewed upon the sun
iect, and the sentiment is found to be
generally in favor of the plan
Views of Citizens.
Following is brief symposium of
opinion in the matter, as expressed by
the gentlemen named TO The Tribune s
intcrvieweTs:
R. 7. Badger, cashier Utah State Ma
tional bank-I think it would be a
good thing. 1t seems to ME that 1t
would tend to make more stable
market for bank and industrial
stocks.
w. s. Mccormick, president McCor-
ncik e. Co., bankers don Z see
that there could be any particular
objection to the project. If they
want TO pay the fee for listing on
the stock exchange, as the mining
men do. they ought to have tho
privilege of doing so.
o. g. Beebe, cashier Zion & Savings
Bank & Trust Col have taken
little interest in the matter and
therefore have no opinion to give.
H. s. Young, cashier Dcscret Ma
tional bank-I have given no con-
sideratioD 10 the subject, but with
out having studied it in any way
should say that there could be no
great objection to the plan.
John g. Cutler, Jr., broker for bank
and industrial stocks-The plan
has been tried here before and it
ddn L work. ! don't think 1t
are not enough large industrial
concerns in Utah to Justify it. In
the cast the investing public pre-.
fers to buy bank and industrial
stocks through investment and
bond dealers and brokers. There
the mining and railroad stock deal
ings are kept separate from trans
stocks. In Salt Lake there are
two industrial stock brokerage
firms that handle all the business
in this line, and the business IS
easily taken care Of by these two
concerns. IL seems 20 ME that
there is no need of listing our few
industrials on the stock exchange,
and | am OF OPINION tnat INC ptac-
tice would prove 10 repeat its for
mer failure. II. for instance. we
had a dozen industrial concerns as
large as the Utah-Idabo Sugar
company, with our present smaller
ones. there might he some reason
for listinc the stocks on the eX-
change. But even in that ease
they shouid be kept entirely apart
from mining stocks in the trading.
The plan TO nnitc them all on the
exchange has failed everywhere
and ! have no doubt that il would
do so here.
Knox Favors Idea.
Frank Knox, president National
Bank Of the Republic-I VIII say
that the idea of placing industrial
stocks on the local market appeals
10 me particularly from the stand
points OF stimulating trading and