Business: Government-Out-of-Business

For the purpose of protecting, conserving and advancing the interests of the holders of foreign securities in default, there is hereby created a body corporate with the name "Corporation of Foreign Security Holders . . ."—Title II, Federal Securities Act of 1933. Wall Street found Title I of the Securities Act so onerous that the flow of long-term capital into U. S. Industry practically dried up. Last week Wall Street had the unmixed pleasure of seeing President Roosevelt forced to wriggle out of the equally unhelpful provisions of Title II. For when...

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