Business: Second Draft

For nearly a month brokers and businessmen have been parading their objections to the Stock Exchange control bill before House and Senate Committees. By last week they had a warm feeling that they had made good headway toward modification when Ferdinand Pecora retired with his squad of bright young legalites to round off the measure's harshest features. A new draft will be submitted this week. Probable revisions include:

1) Establishment of a separate division of the Federal Trade Commission to administer the Securities Act and the Exchange Bill, with enlargement of the...

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