Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-09
4BLUE.SKY' LAW
IS WANTED HERE
Prevention Of Fraudulent
Sales of Stocks and Bonds
Object of Measure.

Enactment Of 'cblue-sky" law fol
washington for the purpose of prevent
ing fraudulent practices in the promo
ton or sale of stocks and bonds and fol
the registration Of persons selling such
securities was Endorsed by the board OF
governors Of the Merchants and Manu-
facturers' Association at its meeting in
The Star Building yesterday afternoon.
The merchants board approved in
principle the bill to this effect which
has been introduced in the Senate by
Senator Capper of Kansas. In announc.
ing the action of the merchants board
Edward d. Shaw, secretary, pointed out
that the Better Business Bureau and
other business groups in Washington
had repeatedly urged the need OF 9
'.blue-sky" law for the District.
Effect of Driving Out.
The operation of "blue-sky" commits
sions in other Eastern Jurisdictions, it
Is pointed out, has had the effect OF
driving agents guilty OF sharp practices
to sections where such projection for
the public is not in force, and this has
made the. District a fertile field for
operations.
The merchants group, presided over
by Mai. Gen. Anton Stephan, president,
also placed its stamp Of approval on the
proposal for the building Of q new
Chain Bridge over the Potomac River
to care for the increasing traffic to
washington from Northern Virginia.
The board had before it q bill which
has been introduced in the Senate by
Senator Swanson of Virginia authorize
ing the War Department to proceed
with the preparation Of plans for new
bridge there and appropriating $4,000
for this work.
Code Is Endorsed.
Enactment of an insurance code for
the District, advocated for several years
by Supt. Baldwin Of the District Insur-
ance Department, also was indorsed In
principle by the merchants board. The
board had before 1t the new code pro-
posed by the Districts Insurance De-
partment, and was convinced OF the
need of such legislation, though the
measure as introduced by Senator Cap
per was not considered specincauy.
Of the shop-early- committee
Of the association, which has as its
purpose the reduction Of the last-min-
ute Christmas rush. Lansburgh re-
ported that Postmaster w. M. Mooney
had again volunteered full cooperation
Of the City Post ONCE.
The board received an acknowledge
ment from Theodore w. NoyeS, as cnalr-
man Of the Citizens Joint Committee
on National Representation, of the ap-
preparation of the merchant body for
the educational work of that organiZa-
ton and its promise Of continued CO.
operation.
The board adopted resolution urg-
ing thMt a uniform number OF pounds
per ton for the sale Of coal for the Dis
trict, Maryland and Virginia be adopt
ed. There is now difference In the
number Of pounds as between the Dis
trtct and the two neighboring States.
Gen. Stephan announced the appoint
ment of the following as a committee
Of the association to seek enlargement
OF the membership of the organization:
Arthur Copeland, p. M. Dorsch, j. E.
Collihower. j. w. Stohlman, Raymond
Wise, George s. DeNeale, DIR. M. @.
Gibbs, e. G. Graham, Bert Brewood, p.
J. Crummett. Dewey Zirkin, Ford
Young, A. j. Sundlun, Louis Levay,
Charles A. Camalier. J. G. Callahan,
Harry Sherry, J. G. Parker, w. p.
Grove, r. p. Andrews. Herman Bocor-
selsksi, Claude Owen, O. r. Wright,
Bert Olmsted, r. w. Harper, j.. II.
Hanna, Charles Frame and Harry
Taylor.