Leon Frazier, Provo, Utah, Uranium History Series

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LEON FRAZIER #1 could even get the stock qualified. And so I'm sure that it was a great temptation of many of the brokerage houses to cut corners and get in on some of that very lucrative underwriting business back during that period of time. We had a number of problems and cases develop in our office that related to the brokers, and dealers, and the underwriters, and the commissions, and so on. There were so many problems in connection with the uranium industry that it had a profound effect, in my opinion, on many of the attitudes and positions that brokerage houses are even taking today. At that time many of them would handle over-the-counter stocks, penny stocks, Goodbody and Company, Hogle, and others, and now they've become a little more sophisticated and the value of the stocks have to be up much higher; one dollar, three dollars, five dollars, whatever the limits they set on it. But at that time, many of the better brokerage houses were handling uranium issues because it was a very lucrative thing to do, and the S. E. C. hadn't laid down as many strict bylines and guidelines as they have at the present time. It's becoming a more sophisticated problem now. It's being refined. At that time there were lots of problems as there were in the days when they rushed up into the 10