INVESTMENT COMPANIES HEARINGS BEFORE A SUBCOMMITTEE OF THE COMMITTEE ON BANKING AND CURRENCY SEVENTY-SIXTH CONGRESS THIRD SESSION ON S. 3580 A BILL TO PROVIDE FOR THE REGISTRATION AND PART 2 APRIL 12, 15, 16, 17, 18, 19, 22, 23, 24, 25 and 26, 1940 Printed for the use of the Committee on Banking and Currency Adams, Hon. Charles F., Boston, Mass.-- Adler, Robert S., president and director, Selected American Shares, Bane, Baldwin B., director of the Registration Division, Securities and 835 Berle, Rudolf, general counsel, Investment Counsel Association of Bolton-Smith, Carlile, attorney, Securities and Exchange Commis- Bullock, Hugh, vice president, Calvin Bullock Co., New York City Bundy, Harvey H., chairman of the trustees, Boston Personal Prop- Bunker, Arthur H., executive vice president, The Lehman Corpora- Cabot, Paul C., president, State Street Investment Corporation, Curtis, Charles P., trustee, Century Shares Trust, Boston, Mass. Curtis, Louis, partner of Brown Bros. Harriman & Co., Boston, Mass. Dewey, Bradley, president, Dewey & Almy Chemical Co., Cambridge, Dodd, Prof. E. Merrick, Harvard Law School, Cambridge, Mass.. Eaton, Charles F., Jr., president, Eaton & Howard, Inc., Boston, Eberstadt, Ferdinand, president of F. Eberstadt & Co., New York Gardiner, William Tudor, chairman, Incorporated Investors, Boston, Goldsmith, Raymond W., assistant director, Trading and Exchange Division, Securities and Exchange Commission Greene, Francis, assistant director, Trading and Exchange Division, Securities and Exchange Commission.- Griswold, Merrill, chairman, Massachusetts Investors Trust of Healy, Robert E., Commissioner, Securities and Exchange Com- Hollands, John H., attorney, Securities and Exchange Commission - Johnston, Douglas T., president, Johnston & Lagerquist, Inc. and vice president, Investment Counsel Association of America, Long, Hugh W., president, New York Stocks, Inc., and Manhattan Loomis, Robert H., president, Loomis, Sayles & Co., Inc., Boston, 584 Statement of-Continued. Myers, John Sherman, vice president of Lord, Abbett & Co., Inc., O'Hearn, Charles M., vice president and director of Clarke, Sinsa- Orr, James H., president, Railway & Light Securities Co., Boston, Page 605 713 631 545 370, 441 Parker, William A., president, Incorporated Investors, Boston, Mass- Schenker, David, Chief Counsel, Investment Trust Study, Securities 723 528 802, 866, 971 Smith, L. M. C., associate counsel, Investment Trust Study, Securities Standish, Alexander, president, Standish, Racey, & McKay, Inc., Taliaferro, Richard N., president, Fidelity Fund, Inc., Boston, Mass.- 783 560 718 547 451, 514 Vass, Laurence C., statistician, Securities and Exchange Commission.. White, James N., Scudder, Stevens & Clark, investment counsel, Exhibits: Memoranda submitted by Arthur H. Bunker.. Letters to stockholders of National Bond & Share Corporation submitted by F. Wilder Bellamy. 821 682 906 700, 755 350, 399, 406 423 Memorandum submitted by Mahlon E. Traylor, entitled "Investment 459 Memorandum submitted by Paul C. Cabot entitled, "Sixteenth 464 Pamphlet submitted by Paul C. Cabot, entitled, "The Investment 470 List of trustees and members of the advisory board of Maccachusetts 508 548 554 Memorandum submitted by Senator Downey in behalf of Henry S. 565 Comparative statement of capital surplus and dividends, of the Boston 626 633 Code of Fair Competition for Investment Bankers, submitted by 641 Statement of S. L. Sholley, president, Keystone Custodian Funds, Inc., 663 Memorandum submitted by Francis I. Amory, vice president, and 665 575 Letter addressed to Hon. Robert F. Wagner by Donald B. Litchard, president, Bay State Fund, Inc.. 675 Memorandum submitted by Donald Holbrook, Boston, Mass. 676 Exhibits-Continued. Memorandum submitted by John H. Sherburne, chairman, board of Chart submitted by Robert H. Loomis entitled "Loomis-Sayles Chart submitted by Robert H. Loomis entitled "Loomis-Sayles Page 677 709 710 Code of Professional Practice of Investment Counsel Association of Form of application for membership, of the Investment Counsel Statement of Prof. E. Merrick Dodd, Jr., Harvard Law School.. Memorandum submitted by Securities and Exchange Commission on Chart submitted by Securities and Exchange Commission entitled "Investors' Experience in Management Investment-Holding Companies (1927-35)_. 726 727 776 778 784 788 811 822 Chart submitted by Securities and Exchange Commission entitled "Investors experience in management Investment Companies Proper" (1927–35)_. 823 Letters pertaining to Massachusetts Distributors, Inc., submitted by 849 Memorandum submitted by Securities and Exchange Commission 875 925 941 951 957 968 Chart submitted by Securities and Exchange Commission entitled Memorandum submitted by Securities and Exchange Commission 976 986 997 1005 1018 1023 1026 Editorial submitted by Securities and Exchange Commission from "Christian Science Monitor, dated March 20, 1940". 1045 Editorial submitted by Securities and Exchange Commission from "Springfield (Mass.) Republican, dated April 17, 1940" 1046 |