PART IV which was transmitted to the Congress on May 2, 1936, pertains to the Committees for the Holders of Municipal and Quasi-Municipal Obligations. PART VI which was transmitted to the Congress on June 18, 1936, pertains to Trustees under Indentures. The other parts of the report in preparation deal with (1) Committees and other Agencies for holders of foreign governmental issues; (2) the various techniques for effecting reorganizations; (3) the problems of control and regulation of all reorganization and protective committees; and (4) suggestions for amendments to the Bankruptcy Act and for comprehensive reorganization legislation. PUBLIC REFERENCE ROOMS The three Acts administered by the Commission provide for the furnishing to the public, under such regulations and at such reasonable cost as the Commission may prescribe, the information contained in registration statements, applications, reports, declarations, and other public documents filed with the Commission. During the past year more than 13,900 members of the public visited the Public Reference Room of the Commission in Washington, D. C., for the purpose of seeking registered public information. Many thousands of letters and telephone calls relating to public information were received. Several thousand orders for photostatic copies of registered public information were also received. These orders involved over 274,000 pages. In April 1936 the Commission established public reference rooms in the Chicago and New York Regional Offices. In the public referace room of the Chicago Regional Office there will be available to the public such copies of the applications for permanent registration of securities registered on the New York Stock Exchange and the New York Curb Exchange as have received final examination in the Commission. In the public reference room of the New York Regional Office there will be available to the public such copies of appliations for permanent registration of securities on the Chicago Curb Exchange, the Chicago Stock Exchange, and the Chicago Board of Trade as have received final examination in the Commission. The rules of the Commission provide that each issuer of a security gistered on a national securities exchange shall file an annual report th the Commission. These annual reports are designed to keep up date the information filed in original applications for permanent. registration, and they are to be filed not more than 120 days after the close of each fiscal year ending on or after December 31, 1935. These reports will also be made available to the public in the public. reference rooms in the New York and Chicago Regional Offices in the same manner as the applications for permanent registration of securities, as described in the preceding paragraph. Photostatic copies of registered public information may be obtained from the offices of the Commission at Washington only. PUBLICATIONS Information concerning the activities of the Commission is made available to the public through releases issued to the press and through the medium of a mailing list established for the convenience of those members of the public who wish to receive releases currently. Releases are issued announcing rules, regulations, orders, opinions, findings, filings of registration statements and applications, effectiveness of registration statements, public hearings, and reports and statements filed by security issuers, officers, directors, and principal stockholders. The releases of the Commission are classified according to subject, and members of the public may have their names placed upon the mailing list, to receive any or all classes of releases. During the year ended June 30, 1936, the Commission published 448 releases concerning its activities under the Securities Act of 1933, 450 releases under the Securities Exchange Act of 1934, and 268 releases under the Public Utility Holding Company Act of 1935. Of the total 1,166 releases issued under the three Acts, 509 releases were announcements concerning registration statements and applications filed with the Commission; 242 releases contained orders of the Commission; 141 releases were announcements of rules, regulations, and amendments; and 274 releases dealt with announcements of public hearings, legal opinions, effective registrations, statistical analyses, and a few miscellaneous announcements. In addition to the above releases the following publications were issued by the Commission during the year: 13 Official Summary of Stock Transactions and Holdings, issued semimonthly, as well as a Base Summary showing the holdings of Officers, Directors, and Principal Stockholders, as of December 31, 1935. Directory of Over-the-Counter Brokers and Dealers registered with the Securities and Exchange Commission, as of January 31, 1936. List of securities registered, exempt from registration, or admitted to unlisted trading privileges under the Securities Exchange Act, as of June 30, 1936. Uniform System of Accounts for Mutual Service Companies and Subsidiary Service Companies under the Public Utility Holding Company Act of 1935. Report to the Congress on Trading in Unlisted Securities upon Exchanges. 13 For list of publications available as of Sept. 30, 1936, see Appendix IV. Report to the Congress on the Feasibility and Advisability of the Complete Segregation of the Functions of Dealer and Broker. Preliminary Report to the Congress on the Study and Investigation of Protective and Reorganization Committees. Report to the Congress on the Study and Investigation of the Work, Activities, Personnel, and Functions of Protective and Reorganization Committees: PART III-Committees for the Holders of Real Estate Bonds. PART V-Trustees under Indenture. PERSONNEL The Commission and personnel, at the close of the fiscal year, consisted of 1,077 persons. This total comprised 5 Commissioners and 1072 employees, 698 of whom were men and 374 were women. RULES OF PRACTICE OF THE COMMISSION During the year Rules of Practice were adopted governing appearance and practice before the Commission, hearings, evidence, motions. depositions, filing of reports, exceptions, briefs, and other papers. These rules became effective September 13, 1935.14 ADMISSIONS TO PRACTICE Rule II of the Rules of Practice, as amended, which contain the provisions governing admissions to practice, provides that persons hom the Commission finds, on consideration of their application, to be of good moral character and to possess the requisite qualifications o represent others may be admitted to practice as Attorney or Agent before the Commission. The Commission adopted forms of appliation for admission to practice as Attorney and as Agent. Effective November 1, 1935, a register has been maintained in which the names and addresses of all persons admitted to practice before the Commission have been entered. The following statistics "The Rules of Practice as amended Nov. 4, 1936, appear in Appendix I. wwww indicate the number of applications received, the number of persons admitted to practice, and the number of applications pending as of June 30, 1936: The Congress appropriated $3,029,494 for the Commission during the fiscal year 1936. This amount was derived from the following EXPENDITURES AND OBLIGATIONS The expenditures and obligations for the fiscal year ended June 30, 1936, are as follows: |