3, 1959

Dyer, Nancy Corinne, et al.

8th Circuit..

Apr.

Dec. 26, 1957

June 15, 1959

Gilligan, Will & Co., James Gilli-
gan and William Will.

2d Circuit..

Order of Mar. 27, 1959, permitting declaration filed under sec. 12(e) of the 1935 act by Union
Electric Co., as amended, to become effective. Order Apr. 8, 1959, denying petitioners
application for stay. Order May 6, 1959, granting Union Electric Co. leave to intervene as a
respondent. Pending.hay
Order of Nov. 25, 1957, in which the petitioner was found to be a cause of the revocation of the
broker-dealer registration of A. J. Gould & Co., Inc. Pending.
Order of Mar. 24, 1959, dismissing proceedings instituted by petitioner pursuant to sec. 15A (g)
of the 1934 act for review of disciplinary action by the NASD, Inc.; and Commission's order
of Apr. 20, 1959, denying rehearing. Pending.
May 14, 1958 Order of May 7, 1958, suspending the partnership of Gilligan, Will & Co. for 5 days from mem-
bership in the NASD, Inc. and finding individual partners, Gilligan and Will as causes of
such suspension. Petitioner granted stay of Commission's order pending disposition of
petition for review. Judgment of CA-2 June 3, 1959, affirming the order of the Commission.
Pending.

Order of May 6, 1959, denying withdrawal of notification and permanently suspending exemp-
tion from registration pursuant to Regulation A. Pending.
Order of Apr. 8, 1957, directing that subject's stock be withdrawn from listing and registration
on the American Stock Exchange, effective after Apr. 13, 1957. Judgment of CA DC June
24, 1958, affirming Commission's order. Closed.

Order of Jan. 15, 1958, denying the application of the company for registration as a broker-
dealer and its request for withdrawal of such application and finding Peter J. Gruber and
Phil Sachs to be causes of such denial. Order Apr. 6, 1959, by CA DC remanding case to
the Commission with consent of the Commission in order that it may entertain a petition
for reconsideration. Closed.

Order of Apr. 8, 1957, directing that subject's stock be withdrawn from listing and registration
on the American Stock Exchange, effective after Apr. 13, 1957. On petitioner's motion, CA
DC entered an order Dec. 11, 1958, dismissing petition for review. Closed.

Order of Oct. 18, 1957, refusing to reopen the hearing under sec. 19(a) (2) of the 1934 act which
resulted in an order withdrawing the registration of petitioner's capital stock on the Ameri-
can Stock Exchange. On petitioner's motion, CA DC entered an order Dec. 11, 1958, dis-
missing petition for review. Closed.

Order of Mar. 18, 1958, permanently suspending petitioner's exemption under Regulation A
from the registration provision of the 1933 act with respect to a proposed offering of 100,000
shares of petitioner's common stock, and entering a stop order pursuant to sec. 8(d) of the
1933 act suspending the effectiveness of petitioner's registration statement. Commission's
motion to dismiss the petition for review served July 21, 1959. Pending.
Order of July 28, 1958, exempting Inter-Canadian Corp., from sec. 12(d) (2) and related sections
of the IC Act of 1940 in its acquisition of stock in Northwestern Fire and Marine Insurance
Co. Motion Sept. 3, 1958, by intervenor-respondent Great Northern Investments, Inc.
(formerly Inter-Canadian Corp.), for an order to dismiss petition for review. Petitioner's
motion to dismiss dated Oct. 22, 1958. Order of CA-8 Oct. 27, 1958, dismissing petition for
review. Closed.
Order of May 20, 1959, revoking petitioner's registration as an investment adviser pursuant to
the IA Act of 1940. Order Apr. 4, 1959, denying petitioner's motion for stay of Commission's
order. Pending.
Order of Sept. 13, 1957, denying withdrawal of and revoking petitioner's broker-dealer registra-
tion. Order of CA DC Dec. 4, 1958, affirming the order of Commission. Closed.

529523-59-21

TABLE 30.-Contempt proceedings pending during the fiscal year ended June 30, 1959

East Boston Co

Status of case

5

Massachusetts.

Dec. 15, 1958

Order of Dec. 15, 1958, to show cause why defendants should not be adjudged
in civil contempt by reason of noncompliance with the final judgment entered
July 13, 1955, which ordered the filing of reports pursuant to sec. 13 of the 1934
act and Regulation X-13A. Order of Dec. 29, 1958, adjudging respondents
in civil contempt and directing they pay fines totaling $2,500. Fines have
been paid. Closed.

PART 2.-CRIMINAL CONTEMPT PROCEEDINGS

Principal defendants

Birrell, Lowell M.

Number
of de-
fendants

United States District Court

Initiating papers filed

1

Southern District of New
York.

Oct. 11, 1957

Colotex Uranium and Oil, Inc.

3

Colorado..

Jan. 17, 1957

Status of case

Order of Oct. 11, 1957, directing the defendant to show cause why he should
not be punished for criminal contempt for not obeying subpoena in "S.E.C.
v. Swan-Finch Oil Corp., et al." Order of the District Court Dec. 2, 1957,
denying motion to quash bench warrant issued Nov. 20, 1957. Petition by
defendant for a writ of prohibition to the District Court from proceeding
with contempt action denied by CA-2, Dec. 9, 1957. Motion by defendant
in Supreme Court for leave to file and petition for a writ of prohibition and
mandamus served Dec. 23, 1957, denied by Supreme Court on Mar. 3, 1958.
Trial set for Oct. 1959. Pending.

Order of Jan. 17, 1957, directing defendants to show cause why they should not
be adjudged in criminal contempt for violating secs. 5 and 17 injunction, 1933
act. Stipulation of facts, May 28, 1957. Defendants' memorandum and
memorandum briefs filed Aug. 1, 1957. Plaintiff's reply brief, Sept. 15, 1957.
Awaiting decision. Pending.
Order Aug. 3, 1956, directing defendants to show cause why they should not be
found guilty of criminal contempt for violating injunction under sec. 5, 1933
act. Pending.
Feb. 6, 1959 Order of Feb. 6, 1959, directing the defendant to
esmondant to show cause why he should not

be punished for criminal contempt for violating the final decree of permanent
injunction entered Nov. 24, 1958, in cause "S.E.C. v. Canadian Javelin Ltd."
After the fiscal year the defendant was acquitted by the Court. Pending.
Order of Jan. 28, 1959, directing the defendants to show cause why they should
not be punished for criminal contempt for violating the temporary restraining
order, permanent injunction and order appointing a receiver in cause "8.E.C.
v. Philip Newman Associates, Inc., et al." Hearing postponed Feb. 10,
1959, without setting a future date. Pending. D

TABLE 31.-Cases in which the Commission participated as intervenor or as amicus curiae, pending during the fiscal year ended June 30, 1959

Date of entry

Nature and status of case

Oct. 20, 1958 Action under sec. 11 of the Public Utility Holding Company Act of 1935 involving an
accounting of moneys allegedly due Arkansas stockholders. Suggestion amicus curiae
filed Oct. 20, 1958, by the Commission, for stay of proceedings pending completion before
the Commission of hearings on a plan filed pursuant to sec. 11 of the 1935 act by Cities
Service Co. with respect to its subsidiary, Arkansas Fuel Oil Corp. Opinion Oct. 24,
1958, granting stay. Pending.

Barker, Harold C., et al. v. Russell Southern District of New Mar. 21, 1958
McPhail, et al.

York.

Ferraiolo, Nicholas v. F. R. Newman. United States Supreme Court. Feb. 16, 1959

Hull, J. Warren v. Newman, Ken- Southern District of New Sept. 10, 1957 nedy & Co., et al. York.

Perlman, Michael v. John E. Tim- Southern District of New
York.

berlake, et al.

Oct. 13, 1958

Action for violation of sec. 14(a) of the 1934 act and Regulation 14 thereunder, involving
solicitation of proxies. Complaint filed by Commission as intervenor Mar. 21, 1958,
demanding a final judgment, temporary restraining order and a preliminary injunction.
Temporary restraining order signed on Mar. 21, 1958, restraining defendants and plain-
tiffs from voting their shares and proxies except for the purpose of adjourning the meeting
to Apr. 24, 1958. Proxies were finally voted May 6, 1958, after further adjournments.
Order Dec. 17, 1958, denying Commission's motion for summary judgment. Pending.
Action under secs. 12(2) and 17(a) (2) of the 1933 act for rescission or damages arising
out of allegedly fraudulent sales of securities in the nature of undivided fractional interest
in an oil and gas lease. Brief of the Commission amicus curiae served Aug. 26, 1958.
Appellant's brief filed Aug. 30, 1958. Appellees' reply Sept. 4, 1958, to Commission's
motion for leave to participate as amicus curiae. Order Sept. 11, 1958, granting the
Commission leave to participate amicus curiae and permitting filing of the brief. Ap-
pellees' brief served Oct. 17, 1958. Commission's reply brief amicus curiae served Oct.
28, 1958. Order Feb. 27, 1959, reversing the order of the District Court. Closed.
Action instituted pursuant to sec. 16(b) of the 1934 act by a stockholder to recover on
behalf of General Tire & Rubber Co. all the profits realized by the defendant from the
purchases and sales of the common stock of General Tire & Rubber Co. within less
than 6 months. Brief for the Commission amicus curiae filed Dec. 31, 1958. Brief of
defendant-appellee filed in Jan. 1959. Pending.

Action pursuant to sec. 16(b) of the 1934 act seeking to recover profits of the respondent
realized through the acquisition and sale of the common stock of Ashland Oil & Refining
Co. within a 6-month period. Commission's brief amicus curiae supporting petition
for writ of certiorari filed Feb. 16, 1959. Respondent's brief filed Feb. 16, 1959. Supreme
Court on Mar. 5, 1959, denied petition for writ of certiorari. Closed.
Action under sec. 215(b) of the Investment Advisers Act of 1940 for damages plaintiff
allegedly suffered as a result of a contract with defendants. Memorandum of the
Commission amicus curiae filed Sept. 10, 1957. Supplemental memorandum filed Nov.
25, 1957. Case settled. Closed.

Action under sec. 16(b) of the 1934 act to recover profits alleged to have been realized by an
officer of the Jones & Laughlin Steel Corp. from the sale and purchase within 6 months
of the common stock of the corporation. Memorandum of the Commission amicus
curiae served Oct. 13, 1958. Plaintiff's supplemental memorandum Oct. 24, 1958.
Respondents' memorandum on its counter claim for declaratory relief filed. Opinion
Mar. 26, 1959, granting defendants' motion dismissing the complaint; and denying
defendants' motion for judgment on the counter claim. Appeals filed by plaintiff and
defendants in CA-2 in Apr. 1959. Pending.

TABLE 31.-Cases in which the Commission participated as intervenor or as amicus curiae, pending during the fiscal year ended June 30, 1959-Continued

Nature and status of case

Action under sec. 10 of the 1934 act and rule 10B-5 thereunder, seeking an accounting for
profits gained by the defendant in the purchase and resale of the stock of Boston Electro
Steel Casting, Inc. Defendant's motions to dismiss and for a more definite statement,
filed in Dec. 1958. Commission's memorandum amicus curiae contending that the court
had jurisdiction and that the complaint stated a cause of action, filed Feb. 24, 1959.
Opinion Apr. 16, 1959, denying motion to dismiss the complaint. Defendant's motion
for rehearing served Apr. 23, 1959. Plaintiff's memorandum in opposition for rehearing
served Apr. 24, 1959. Pending.

Action under sec. 16(b) of the 1934 act involving profits realized under a stock option plan
which had met the requirements of sec. 16(b) and rule 16B-3, thereunder. Defendants'
answers filed Apr. 1958. Plaintiff's brief in support of motion for summary judgment
filed Apr. 25, 1958. Defendants' reply memorandum filed in May 1958, and reply brief
filed on behalf of plaintiff. Commission's memorandum amicus curiae served Sept. 20,
1958. Pending.
Action involving secs. 4, 5, and 12 of the 1933 act. Brief of the Commission amicus curiae
served Jan. 26, 1959. Response by appellees to amicus curiae brief filed Feb. 12, 1959.
Opinion Mar. 18, 1959, reversing the judgment of the District Court and remanding the
cause. Order Apr. 20, 1959, denying petition for rehearing. Application Apr. 27, 1959,
by appellees for stay of mandate and judgment for 90 days to allow time to appeal to the
Supreme Court. Pending.

TABLE 32.-Proceedings by the Commission to enforce subpoenas under the Securities Act of 1983 and the Securities Exchange Act of 1934, pending during the fiscal year ended June 30, 1959

Principal defendants

Number
of de-
fendants

United States District Court

Initiating papers filed

Section of act involved

Cohen, Herbert M., et al..

2

Southern District of New Sept. 26, 1958
York.

Sec. 21(c), 1934 act.

Status of case

Order, Sept. 26, 1958, directing respondents to show
cause why order should not issue requiring com-
pliance with subpoena. Order, Oct. 30, 1958, grant-
ing Commission's request for dismissal of subpoena
action in view of compliance by respondents.
Closed.

Sec. 22(b), 1933 act; sec. 21(c), Order, Apr. 27, 1959, directing respondents to show
1934 act.
cause why order should not issue requiring com-
pliance with subpoena. Order, May 18, 1959, grant-
ing Commission's motion for dismissal of subpoena
action. Closed.

Sec. 22(b), 1933 act; sec. 21(c), Order, June 2, 1958, directing respondent to show cause
1934 act.
why order should not issue requiring respondent to
comply with subpoena. Action dismissed Nov. 7,
1958, on motion of Commission. Closed.