Business: Stocks Across the Border

Only 20 months ago, the Securities & Exchange Commission and the Ontario Securities Commission signed a solemn covenant to put an end to the wild-eyed promotion of worthless Canadian mining stocks in the U.S. Under the agreement, Ontario said it would force its stockbrokers to abide by SEC laws when peddling stocks in the U.S.; if they failed to do so, they would be subject to extradition and trial in U.S. courts. Last week Chairman O. E. Lennox of the Canadian commission announced that Ontario had dropped the deal as "a dismal failure."

Lennox complained that the SEC had agreed to clear...

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