Online stock trading company – I think it is rather fortunate perhaps that the investment trust industry encountered its difficulties and a governmental study comparatively early in its history, before bad practices and abuses and evils had gotten so completely frozen in that they could not be rooted out or where the leaders of the industry would not be willing to do what they have done here, and that is, sit down with the Government representatives and recognize those evils and try to get rid of them.

"It leads me to hope, and it leads me to express the belief I have that under this regulation and under the kind of sensible and honest management I believe we are going to have for these trusts, that they will have a very fine future, a very promising future, one rendering useful service to the small investor. I believe they can make a definite and very useful contribution to our economy and national welfare." Finally, Arthur H. Bunker, executive vice-president of The Lehman Corporation, declared for the industry: "We feel that it is a very healthy sign that the Government and industry can come together and do a constructive job of this character. "With this legislation the confidence of the public in investment companies will, we believe, be restored, and these companies will be able to serve not only the investor but also the important function of supplying new capital to those industries vital to the national defense. "In closing, may I just add a word of appreciation of the splendid cooperation which our group has received from the Securities and Exchange Commission.

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