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Newspaper
Pecos Enterprise
Location
Pecos, Texas, United States of America
Date
Jul 28, 1933
Page
2
Local paper details the consolidation of The Enterprise and Gusher on May 16 1925. Editor JACK HAWKINS and Manager BARNEY HUBBS oversee operations for Pecos Texas circulation with standard mailing and pricing policies.
In Pecos a radio and press address extols the National Industrial Recovery Act. It argues cooperation by business groups and civic organizations is essential to lift prosperity, warn of fascism or communism if the plan fails, and calls readers to write to the president to accelerate its rollout.
Stock brokers note trading volume surged during the spring speculative boom of this era, surpassing even the hectic days of prior crashes. Many small investors, burned and without resources, were wiped out as gambling intensified beyond prudent limits. The piece warns that poker among friends is safer than marginal stock trading where the dealer is unknown.
Clifford B. Jones of Spur is named Regional AA public works administrator, seen as a strong choice for the Red Bluff water power control district. He has West Texas experience and views a Pecos river reservoir as transformative for the region.
New rules under the Federal Securities Act require underwriters to file full particulars with the Federal Trade Commission before selling new securities. Commission accountants will study statements and may permit the sale or withdraw the registration.
The commission requires furnishers to provide copies at moderate cost and sales prospectuses filed for review to ensure full disclosure. Radio promotions need prior commission approval and registration demands extensive technical information including names and addresses.
The 17 Pecos Scouts complete two weeks at Buffalo Trail Scout Council summer camp in Edwards county. They enjoyed swimming, life saving, rifle shooting, leathercraft, and daily study periods for advancement. Awards at a court of honor went to Pecos youths including Leon Pittman and J. B. Hudson Jr.
District Attorney Kerr warns against stock manipulation schemes in Texas. Investors chased profits on rising markets, selling high then awaiting returns that never came. He targets known parasites while noting legitimate security houses exist and urges checking bank ratings before dealing.
The proposed law requires public inspection of stock holders with more than ten percent, full remuneration details over 25000 paid by issuers, and estimated net proceeds. It imposes a registra tion fee of one hundredth of one percent of the maximum offering price. The bill is described as sweeping beyond prior blue sky laws and raises questions about effects on legitimate promotions.
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