The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-12-27

Gain in Listings on
Stock Exchange
Held Likely.
by VINCENT S. LYONS
Times Financial Editor

Times FINANCIAL EDITOR
TINE new securities and ex-
Il change act has wrought many
changes; some in actual trading
procedure and some in tempera-
ment. When the recently drafted
rules and regulations Of the Securi
ties Exchange Commission go into
effect shortly, it is highly probable
that one of the chief effects will
be an expansion in the number o
issues listed on the New York Stock
Exchange.
Action of the SEC in formulat-
ing uniform rules for all listed Is
sues, no matter on what exchange,
undoubtedly will cause this move
ment. AS the situation stands now
many issues are listed on the New
York Curb Exchange instead Of the
New York Stock Exchange Tor
more or less selfish reasons. While
the procedure of the latter IN
many respects serves as the pattern
for the former, the listing require
ments of the two institutions are
at variance.
Many corporations have kept
their issues listed on the Curb Elk
change because of the less rigid
rules laid down by that group.
Executives of some of these enter
prises. while realizing that there
was a certain amount OF prestige
attached to having its shares list
ed on the big board, refralned from
such action because of the fact
that more detailed information
would have to be given out IN con-
junction with such transfer.
Anew regulations laio down by
IN the SEC tend to treat all stock
exchanges alike. Consequently, cor
porations which refrained from
having their shares traded in on
the nations largest exchange for
Interior motives will gain nothing
by the pursuance of the same pol
lev with the new rules in effect. IL
is on this premise that the conten-
ton is made that there will be a
considerable increase in the num-
Der of issues listed on the New YORK
Stock Exchange.
Moreover, the action Of spokes-
man of the Stock Exchange in in
dorsing the rules. and requirements
set up by the SEC was to be more
or less expected. The exchange for
some time has been endeavoring to
have listed companies give out
more information to stockholders.
Corporation executives, at least
some of them, baked at this de-
mand.
The new SEC rules in many re-
spects seek to elicit information
which, it is believed, the Stock FIX
change would like to see made pub
lie. They dovetail in so many re
spects that it is not at all unlikely
that the Stock Exchange might de-
eide to abandon its own listing re-
quirements and set up the SEC
rules as the yardstick for listing.
THE Governors commission on
Il unemployment relief has &C
complished something of substan-
tial good with its creation of sort
of trouble bureau" in the rural
areas. This newly created bureau
was fostered with the idea of help
ing to keep farmers off the relief
rolls.
Numerous Federal agencies have
been set up in the last year or
more for the alienation of the
debt problems of farmers, but these
agencies are myth insofar as
some inhabitants of the rural sec
tons are concerned. If complete
knowledge of the functions of these
New Deal creations was available,
farmers in numerous cases would
not have to go on relief.
The trouble bureau" will seek
to enlighten the farmer on just
what methods exist to help him out
of his difficulties. Anyone in the
rural sections who finds himself
in trouble may take his case to the
bureau which will seek to deter
mine whether he can be aided by
one or another of the Government
agencies.