BE THRIFTY WEATHER . - Fair, today and Monday temperature unchanged ; i Max. Temp. Saturday ; : Mia. S4, river T.0 feet, dear, north wtnd. . - , Save many times the price. of your Statesman subecrip- ' tlon by using Statesman ad- , vertfeementt as your buying1 guide. EIGHTY-THIRD YEAR Salem, Oregon, Sunday Morning, April 2, 1933 No. 6 ... ;. . ' vv " pounded tasi ' . , " T . " ! - rrrrjj v .. - . t r: FEW DISORDERS MARK BOYCOTT AGIST JEWS Thousands Protest Anti-Semitism A FQUR HUNDRED Two Killed; Holiday Spirit Prevails and Crowds in Berlin Promenade Demonstration Lasts Only ; One day; Probably not To be Revived, View Br TOM WILHELM BERLIN, Aprtl 1. CAP) The Nazi boycott against the Jews the greatest organized anti-Semitic movement of modern times paralyzed the commercial life of Its victims- today, bat passed with comparatively few disorder! Reports from all parts of Ger many Indicated the only -serious outburst was at Kiel, where two men were killed. A Jewish attor ney fatally wounded a Nazi leader and was himself slain in Jail by unidentified men. Indications were that the boy cott, which was limited to one day by the government, would not be resumed s scheduled Wednesday, although Joseph Ooebbels, minis ter of propaganda, made it clear to a vast cheering throng in the Lustgarten that it would be simple thing to make repressive measures against all Jews effec tive again. "We hTe the boycott so or ganized that it can be resumed at 10 a. m. Wednesday," Dr. Goeb . bels said. "If it must be resumed we will crush German Jewry." Only a few Jewish stores re mained open today anywhere in Germany, and the Nazis succeeded in "persuading prospective cus tomers not to enter them. Boycott measures were enforced aeainst Jewish doctors and law yers and all Jews holding govern men t" and municipal officers were ordered discharged. In Hamburg the police said they found bombs on the statue of Bismarck. There was no explo elon. Although racial hate was at the back of today a demonstration, in many parts of Germany, partic ularly here, people in the streets were In almost picnic mood, i Brown-shirted nazls swarmed through the thoroughfares carry ing buckets of paint with which they splashed identifying signs on every shop run by a Jew. Nazi headquarters had directed that a black placard marked with yellow be used to designate Jew ish shops, but the forces of the boycott had Ideas of their own. Such signs as "Danger Jew Store" and "Attention Beware of the Jew," accompanied by skull and crossbones, were put up, tn addition to the regulation black and yellow quarantine. . -k it mMn ....... a U m 12- i h IK L7 1 BY VETS SUSH imination of Non-Service Connected Benefits is Found Chief Item Projects in Oregon For R. F. C. Aid are Eyed by Committee Disposal Plants for Willamette Valley one Proposal at Meeting Called by Meier; More Suggestions are Requested PORTLAND, Ore., April 1 (AP) More than 40 promi nent residents of Orecron from various parts of the state Economy Move Authorized met here today at the eall of Governor Julius L. Meier to ou rnnnr nut Intft Dring aroui a sxaxewiae program oi Beu-uiiimmwuis Dy OOngress pui iniu Krtn iActji that will result In needed imorovements and aid in unemployment relief with the help of money from the re finance corporation, v MILESTONES IN 1ET- CLOSE AT 1 Beer Will be Sold Legally Friday for First Time In Thirteen Years Effect by F. R. FARM UNION SHOWS IfflEHP 615 M SILVERTDN UBLES PISS ON Here is general view of Madison Square Garden, N ew York, Jammed to capacity with the largest crowd in its History, as leaders of every religions denom Inatlon protested against the anu-Bemrac pouciee being pursued by the government of Chancellor Adolf Hitler In Germany. Upper right Inset is former Governor Alfred E. Smith, who was one of the pemkers. lower in are tne iter, wiuuun x. Man ning (left). Bishop of New York, and Rabbi Stephen 8. Wise, tn a friendly chat on the speakers stand. Flood Peril Seen, Lower Mississippi NEW ORLEANS, April 1 (AP Bayous and creeks of the lower Mississippi valley were swollen and big rivers rose men acingly as the deep south tonight watched a flood threat move fol lowing a two days storm that kUled 81 persons, injured many hundreds, and wrecked a score or more villages from Texas to Ala bama. The Mississippi delta was awash in sections where Its little rivers had tumbled out of their beds and spread across fertile fields and highways. A deluge that trailed the storm was largely responsioie ior tne immedate flood menace, but the rivers already were rising as re sult of earlier rains. The Red Cross in the stricken areas moved to care ior tne homeless . and destitute. I MID ON 0. S. PRISON IS PROBED Cooperative Buying Found Advantageous, Marion Meeting Reveals MARION, April 1 (Special) A alight increase in membership and profitable' cooperative buying were reported by delegates of the Marlon county locals of the Ore gon Farmers Union at the county convention held In Marion all day Saturday. A growing interest In the work of the Farmers Union was shown by the large attendance of mem bers from Marlon, Folk and Linn counties. Warren Gray of Marion, county president, presided and J. R. Car- ruth ers of Bethel acted as song ! leader with Mrs. S. B. Holt accom panying. G. W. Cox of Sydney-Tal- bot local, Ernest Werner of Cen tral Howell and Ronald Jones of Brooks were appointed as the resolutions committee. SB. Holt of Sclo, new state secretary of the union, spoke. Holt takes the place of Mrs. Betty M. Kappanf of Eu gene, recently resigned to take a position in the department of ag riculture at Salem. Ronald Jones gave an instruc tive talk on the sales tax and I H. McBee of Dallas, state presi dent, spoke on educational and legislative matters. A vote of thanks was extended to the Mar lon local for its hospitality. Bethel will be host to the next convention of the county organ ization. The state convention will be held In Dallas Mar 23-25. in clusive. By C. P. Williamson WASHINGTON, April 1 (AP) In the most sweaplng economy move in the history of American government, President Roosevelt decreed today an annual saving of $400,000,000 in veterans expen ditures. Effective July 1, the beginning of the next fiscal year, the order was made possible by the drastic law authorizlnr the president to cut deeply into payments to vet erans, their widows and depen dentsand to reduce federal sal aries. The salary slash occurred earlier In the week. One of the largest Items of savings under the new regulations will be through the complete re vision of the non-service connect ed disability benefits, most of which virtually are eliminated Some $100,000,000 will be saved through the limiting oi .VI. .1...tl..tl,l n ATI ttl ATI tn QL F. BraZler. Owner Of dOg those permanently and totally dis abled. They will receive szu a month compared with $40 at present and those receiving allow ances for less than total dlsabii- itv will be removed from the rolls. Spanish war, Philippine insur rection and Boxer rebellion veter ans and widows and dependents of deceased World war veterans under a "presumptive" clause In the regulations will be permitted to continue to receive their allow- (Turn to page 3, col. 1) construction After outlining a preliminary plan of action, those present at the conference organized a committee of seven for "follow-up" action. Governor Meier, who presided at the meeting, named as mem bers of the committee: Raymond B. Wilcox of Portland, chairmaa; Ralph 8. Hamilton, J. P. Newell and E. B. MacNaughton, all of Portland; Robert W. Sawyer of Bend, H. L. Edmunds of Eugene, and Dean H. 8. Rogers of Oregon State college. The governor said that Oregon (Turn to page 1, col. 4) MIU1 HONOR That Gained National Fame, Is Called s PUN FOR FtlilN Funeral Monday; no Inquest Planned as Case Suicide Without Question SEEK TO IDENTIFY IL H IS SILVERTON, April 1. (Spe cial) George Frank Brasler. 64, died here early this morning, the man who a few years ago gained nationwide mention when his dog, Bobbie, returned to Sllverton afoot after walking from Indiana, where he had been lost while the Brazier family was on an automo bile trip. For many years Mr. Bra sler conducted a restaurant busi ness here and was proprietor of the Reo restaurant at the time of his death. Surviving are the widow, Eliza beth, and two step-daughters, Mrs. Nora Garver and Mrs. Leona Dlckerson. Roscoe Woleott, 73, veteran mail carrier, also died suddenly at 4 o'clock this morning. He had lived in Sllverton since 1906 when he moved here from Brook ings, Kan. He is survived by five daugh ters, Mrs. Russell Scott and Miss Mildred Woleott of Sllverton, Mrs. Helen Hammand of Portland, 162nd guard, Fallin INCOME ID EXCISE Tl IX RECEIPTS 0 F m MOVED FROM RELIEF DILL i LEAVENWORTH, Kas., April 1 (AP) A Leavenworth feder al prison guard testified today be fore a United States commission r that he onened fire with a sub machine Run yesterday at a cir cling airplane after two bullets, aoDarentlv shot from the plane, truck within six :inches of his head, i fl. W. Cross, the cuard, was a witness at a hearing for Lynn S. Barlow and A. N. Barlow, Denver brothers, alleged occupants of the plane. They are charged wltn hooting with intent to kill -and attempting to aid prisoners to es cape. The hearing was continued until Monday. The brothers have denied firlnsr at the orison: The prisoners did not testify, hut they have explained they flew to Leavenworth to take another brother. Theodore Barlow, who was released from the peniten tiary this morning, home to Den ver. They circled the prison, tney said, to Inform him of tneir ar rival. PORTLAND, Ore., April 1 (AP) Charles KImzey, charged with first degree murder in con nection with death of three trap pers at Lava Lake In 1924, was brought to Portland tonight by Sheriff Claude McCauley of Des chutes county. The three trappers, Ed Nichols, Dewey Morris and Roy Wilson, met their death, police believe. about Jan. 15, 1924. About a week later several fox furs were sold here by a man carrying a trapper's license issued to one of the slain men.' fmm m i cany next ween n.iiu?jr 1 O CarrV ArttlS scheduled to be confronted by at- where the furs were sold. Police said the attendants Identified a picture of Kimzey as that of the man who sold them the furs. Kimzey on arrival here, how ever, appeared to police, tney said, to be worrying more about having been Identified by author-; itles as a' man who escaped from the Idaho state prison farm in 1915 than he does about the out come of the murder charge against him. WASHINGTON, April 1 (AP) President Rjoosevelt's demand for speed in helping the, farmer won today from the senate agri culture committee agreement on a relief bill almost exactly as the administration wanted It. After several days' wrangling Mrs. Grace Cooley of Portland over the bill, opposition to tne Mrs. Harler Smith of San JosW house approved Roosevelt pro- Cal.. and three sons, Vernon of Sacramento, Frank and Chester of Willows, Cal. Larson 4k Son are In charge of arrangements for both the Bra zier and Woleott funerals. FOUR IRE INDICTED Students Aver They'll Refuse 1 MORALS CIRC E STANFORD UNIVERSITY, Cal Arrll 1. (AP) Declaring their belief that "any attempt to settle political or economic disputes by violence is ineffectual and ab surd," representatives of seven California colleges passed a reso lution here tonight, stating they would "refuse to be conscripted into any war service." The action was taken at a clos ing session of the Intercollegiate conference against war, attended by 80. delegates from the Univer sity of California, Stanford, St. Marv's. Mills college, San Jose State college. San Mateo junior collere and San Francisco State Teachers college. MEET REGULAR DATS Sone of Union Veterans and their auxiliary will not meet Tues day evening as planned, but in stead will meet on the regular night, April 11. TOLL ROAD TALKED : FOR WILSON RIVER aMefe Gresham Bank is Opened Lawyer Falls to Death Ballot Theft Admitted High School Lad Suicide Indicting four persons on mor als charges and reporting adverse ly on condition of the Marion county poor farm, the grand jury yesterday completed IS months of service and still was not certain as to when Its services would be terminated. Circuit Judge L. H. MeMahan, returning last night from holding court at Albany, de clared he did not know whether the present Jury would be dis missed or whether he would con tinue it for another term. He re fused to indicate what his plans in the matter were. True bills w r returned against Loren Hall and Irene M. Matlock, charged Jointly with lewd cohabitation, and Alfred 8. Matiock and Lena Hlnkleman, jointly charged with the same crime. Bench warrants were Is sued for the arrest of the four. Alfred Matlock Is alleged to have falsely wedded Lena Hlnkle man, claiming that he had ob tained a divorce from Irene Mat lock, it Is understood. gram, led by Chairman smitn (u S. C), crumbled to nothing after the long conference the committee members had with the chief exec utive last' night. Smith withdrew his proposed substitute tor the bill. A victory was chalked up in the committee, however, for Senator Kendrick of Wyoming, assistant democratic leader, whose motion to eliminate cattle and sheep from the sweeping farm price lifting bill was adopted 9 to on his third try. This done, flax and peanuts were also taken out, and the com mittee decided to report the bill to the senate Monday. Only one major question remains to be Bet tied, members said, and that is whether to Include the so-called Simpson production cost guaranty plan. Military honors will be accord A Josenh Falun. 24. who shot and kl 'ed himself In Salem arm ory early yesterday morning. He had been for seven years supply sergeant for Company B, Infantry, Oregon national and was a son of John J. of South Cottage street. The usual funeral services will be held at 10:30 o'clock tomor row morn!ng at the Clough-Bar-rlck chapel with Rev. H. C. Sto ver officiating. Pallbearers will be uniformed members of Com pany B. With the company stand ing at attention for the graveside service at City View cemetery, a firing squad and bugler will per form the military rites of volley salute and taps. No Inquest will be held, County Coroner L. E. Barrick said last night. He stated that the case was dearly suicide and pointed to the fact that young Fallin bad told several friends Friday that he was "going away." The coroner declared that no other person was In any way to blame for Fallin'a committing suicide. Chagrin at being unable to obtain employment caused him to shoot himself, in the opinion Sergeant Harry Plant, armory (Turn to page 3, col. 1) Corporation Receipts Show Most Decrease; Final Figures Awaited Figures compiled by the state tax commission here late Satur day indicate that receipts from the personal income, corporation excise and Intangibles taxes for the year 1933, based on Incomes for 1932. will drop between 30 and 40 per cent under those re ceived a year ago. Exact figures will not be available until Mon day's receipts are checked. Corporation excise Uxes show ed the largest slump, the tax com missioners said. The falling off of these taxes probably will be 50 per cent, while the receipts from the individual taxes, including both the personal Income and in tangibles levies, will Je from 25 to 30 per cent less than last year. The figures for this year would Indicate that the estimate of a 35 per cent reduction in Income tax receipts made by the tax commls- (Turn to page 3, col. 4) PORTLAND, Ore., April 1. (AP) Tillamook county propon ents of the Wilson river highway taroleet and Tillamook and Clat sop county backers of the Wolf I a celebration of the opening. The creek htxhway project are Joining Prfebratlon. arranged by the BECOMES BRANCH GRESHAM. April 1. (AP) The Gresham bank opened today an affiliate of the Jrcrsi ra tional bank of Portland. Nearly 2000 persons crowded tnrouga xne streets to participate in a parade forces to see if the roads can be built as toll roads as a private en terprise. J. M. Devers, attorney lor the state highway commission, said here today. The attorney said he was asked to give an audience to sponsors of the tiro oosed program. A hearing will ba held at Salem next Thurs day afternoon, it was understood, when legal phases of the situation will be studied. ' The proposed plan, Devers said, Is to merxe the two projects into one under a private corporation and build the roads with govern-: ment funds borrowed on a' self liquidating project principal. The two roads are on the state list of approved projects, but the state highway commission haa said It has no funds with which to build them. Gretham chamber of commerce, continued throughout the day. BODY FOUND IN HOME BAKER. April 1. (AP) The body of Harry Snyder, high school yoth who police saia alli ed himself with a shotgun in his home on. the west side Wednesday night, was lound today by neigh bors, who broke into the nouse to investigate.- The youth, who was years old and a senior In the Baker high school, lived alone In the resi dence. . DROPS FOA arrURIES PORTLAND. April 1. (AP) Edward Joseph Braxell, promin ent Portland attorney, was fatally injured today when he fell from the -fourth floor window of his apartment here. Policemen found his body on the sidewalk shortly before dawn. Brazen suffered a nervous breakdown last Novem ber, and since then had been In ill health. A sister, Mrs. Corrine B. Rich ards, had arrived from California several days ago to take Braze.ll south for a rest. She was In the apartment but did not hear him rise. THREE PLEAD GUILTY MEDFORD. April 1. (AP) O. W. Davis, Earl Bryant and James D. Gaddy. Indicted with more than 20 other persons In connection with the theft of 10, 000 ballots from. the county court house here last February, today appeared In circuit court here and pleaded guilty to charge of com plicity In the ballot theft. - Virgil Eddington . and John Glenn, ex-county jailer, others of those Indicted, entered picas of not guilty. Five other men had earlier pleaded guilty to similar charges, sentencing of all of them was deferred. UN HURT WHEN FJ HD IN F AUTO, TILER HIT Severely cut about the face, Mrs. Earl Richards of Indepen dence was brought' to Salem Dea coness hospital by Salem ambu lance at 10 o'clock last night af ter a light tedaa la which she was riding with her husband and two sons crashed Into the side of a large truck trailer at the west end of the Marion-Polk county bridge. Mr, Richards and the two hoys were not injured. The big truck and trailer, driven by G. A. Wlthee of Amity, was pulling onto .the SaJem-Dallas highway when the Richards car came off the bridge. The Richards sedan its engine Jammed back to the eowl, was virtually demol ished, according to Chief of Po lice J. A. Gosser of West Salem. The truck and trailer, undamag ed, were taken on their way by Wlthee. VATICAN CITY, April 1 (AP) Pope Pius XI blessed the- whole world today upon Inaugurating the holy year by breaking down the holy door of SL Peter's with a golden hammer before 55,000 per sons. ' This holy year, the Pope said addressing the canons of St, Pe ter's who have custody of the holy door, "will remain the greatest of all holy years." "With Incomparable solemnity it draws Its importance from the Infinite value of divine redemp tion, of which all receive bene fits," the pontiff continued "Even after 19 centuries we see the copious fruits thereof be stowed through the immeasurable love of the divine redeemer. of TTi HAS FULL CONTROL NONE APPLY N6 FOR BEER LICENSE YET Numerous applicants for beer- selling licenses are expected to appear at the municipal recorder's office tomorrow, for presentation of their requests to the city coun cil at its night session. No appli cations were received yesterday, although one applicant appeared at the recorder's office to inquire as to what would be required of him. The beer ordinance facing fin al action before the council re quires that each license appli cant execute a $500 bond "with two or more sufficient sureties who are resident freeholders of the city," or provide a bond from a surety or guaranty company, The application must state the location of the place where beer is to be sold, the names of the owner or owners and include the provisions of the license to forfeit for sale of "non-intoxicating' beverages to minors, and other law violations. It is. probable the council li cense committee may revise the fee schedule set in the initial or dinance. MONTEVIDEO, Uruguay, April 1 (AP) Nearly every opposi tion leader was under arrest or had sought asylum in foreign le gations today as President Gabriel Terra's day-old dictatorship be came more nearly absolute. Sollders prevented legislators from entering the congressional palace lest they try to conduct a rump session ond overturn a jun ta named yesterday to help Dr. Terra rule the country and at tempt to lead It back to econom ic and political stability. Two opposition newspapers were not printed today. The pre sident . alu that they had not been suppressed but that troops had shut off their electrical power and their presses were not running There was a rigorous censor ship, Thli did not however, pre vent the news from reaching the populace ct former President Bal- trsar Drum's suicide yesterday Repeal Votes in 2 States Set; Michigan Monday, ' Wisconsin Tuesday WASHINGTON, April 1 (AP) Momentous milestones In the nation's prohibition history will be passed next week. Two states will cast the first votes on repeal of. the 18th amendment, and on Friday Beer will flow legally again tor the first time in 13 years. Moving swiftly under the man date of congress, the people of Michigan Monday will register their will upon keepinr the pro hibition amendment In the con stitution. The following day Wis consin will cast its votes. Both state will be electing delegates to constitutional conventions, which will cast the state's vote for or against repeal. Michigan, with Its convention set for April 10, has the oppor tunity to be the first to ratify the amendment submitted to con gress to repeal the 18th. The Wis consin convention will be ' held April 25. Meanwhile, faced with the fimt break in the prohibition dam built up over decades, prohibition forces mustered their legal ex perts to carry into - the courts their contention that sale of 3.2 per cent beer is unconstitutional so long as the 18th amendment, is still the law of the land. Spokesman for. the Anti-Saloon, league and the Methodist board of temperance said today no defi nite place has been selected for forcing a test case to be carried to the supreme court. It was ad mitted, however, that various le gal angles were being considered . and that action would come soon after the beverage Is legalized. Millions of gallons brewed In hopeful expectancy are awaiting at breweries over the country and much of it is bottled, ready to be pushed out m the Btates where It is legal. Immediately after the stroke of midnight, April C. Sale of beer will be permitted in 19 states the minute it be comes available nationally, while five more have approved sale but have set dates in the future for effectiveness. This compares with l4 states that had no prohibition laws in 1920, 16 in 1919. 21 in 1918, 25 in 1917, and 31 in 1914. SUSPECT IN BORN 1 E N N E S CHICAGO. April 1. (AP) A charge that two vast railroad sys tems had broken faith with their union employes was made today, and promptly denied by the rail roads involved. At Washington, Chairman A. F. Whitney of the Railway Labor Ex ecutives association said the Rock Island lines and the Illinois Cen tral system were undertaking to force employes to accept a 16 per cent pay cut in violation of federal laws and of a contract with the workers. The roads denied it. the Rock Island announcing that employes had been given opportunity to "contribute voluntarily If they wished to lo so" but there had been no deduction or reduciton. The Illinois Central stated it had no intentiop of breaking Its contract. ST. PAUL, Minn., April 1. (AP) Minnesota and Canadian authorities .today seized an unem ployed railroader who confessed, officers said, he had a part In the kidnaping of young Hoskell Bonn here last summer. Trailed several days by local investigators and Royal Canadian mounted police. Ray Robinson, 40, was found at Rorketon, Man. Police Chief Thomas Dahlll said he was told by County Attorney M. F. Klnkead from Winnipeg that Robinson had confessed par ticipation in the Bonn kidnaping and Implicated Mr. and Mrs. Verne Sankey. - Sankey has been hunted several weeks on charges of complicity in the Bonn seizure, as has Gordon Elkhorn. Both are wanted also in the Denver kidnaping of Charles Boetcher II, wealthy broker, in February. Mrs: Sankey is In cus tody at Denver in the Boetcher case. ) Youthful Yeggs Get $20,000 at Bank in Wyoming GREEN RIVER. Wyo., April 1 (AP) Posses from Sweet Wa ter and Uinta counties tonight were scouring highways and the mountain recesses for two youth ful robbers who looted the First National bank vaults this after noon of $17,000 In cash and $3, 000 In travelers checks. Employing a ruse to gain en trance to the bank after It had been closed tor the day, the two armed . but unmasked . bandits bound and gagged Edward Talia ferro, assistant cashier, ai d lock ed him In the vault. , .. Poor Farm is Unsanitary Grand Jury Report Avers Asserting that inmates of the Marlon county poor farm should receive better . care than is ac corded criminals In the county Jail, the grand .jury yesterday tiled a report of investigation of the farm which finds the county jail "much to be preferred, as a home, to the poor farm" and sharply criticizes the business management . of the Institution. The Jury points out that In an earlier report It criticized the condition of the Jail. Attending a noon meal, the jurymen found the meal wen prepared but "rather heavy for non-workers, s and -conferring with some of the Inmates, heard the complaint that some of the meals are "not sufficient even for non-workers. ' . This applies to the ' evening meal whlch sometimes consists of a small cup caxe and a sand wich," says the Jury report. . . "One of the older Inmates stated that they were reprimanded when Inclined to be too hearty eaters, Most of the tableware used at the farm Is "absolutely unfit to be placed in food," the jurors de clare, and many of the plates and cups, porcelain-lined, "were found to be cracked and chipped."- "There are holes In the floors and plastering. of the building. according to the jurors, and "the walls are filthy and In need of paint. The beds and bedding are unsanitary. The wife of the sup erintendent advised that bed bugs and other vermin Infest the build Inr. . The bufldinr la a Tir- tual fire trap. The jury criticizes the county court for not entering " Into (Turn to pae 3. col. J), The Day in Washington By the Associated Press President Roosevelt ordered veteran benefits rot $400,000, OOO s year In regulations effec tive Jaly i. Senate banking committee de cided to ask broader power to In vestigate activities of J. P. Mor gan. & Co., and notified members of the New York banking firm to stand by for calls as witnesses. Senate agriculture committee voted to eliminate livestock and sheep from commodities listed in the Roosevelt farm relief tin. Chairman Morgenthau reported farm board holdings of stabiliza tion wheat futures have been re duced to 11,911,000 bushels. Senate banking committee ap proved 'Fletcher bin to asJgn f 100,000,000 of Eeconatractioa corporation funds as aid for In surance companiee. , ers association was placed on rec ord on support of the Roosevelt securities regulatory act. ... ..