‘Cooling ’ of ‘Hot’ Stocks Urged

March 2, 1972

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WASHINGTON, March 1 (AP) —The New York State Attorney General's office urged the Securities and. Exchange ComMission today to ban trading of all new stock issues for at least three days after the initial distribution to allow them time to “cool off.”

“We suspect we may soon be faced. with a new drive by promotoers and brokers to get the new‐issue market ‘hot again,” Assistant Attorney General David Clurman told an S.E.C. hearing.

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