...the same date, amounted to $902,746 and which had not been allocated to specific Investments. gaged or proposes to engage "in the business of investing,...reinvesting, owning, holding or trading in securities." Testimony was introduced to show that the extent of its corporate activity is presently limited to...

...872, 434, 261 PART IX ADMINISTRATION OF THE INVESTMENT COMPANY ACT OF 1940 Companies primarily engaged in the business of investing, reinvesting, owning, holding, or trading in securities are subject to registration and regulation under the Investment Company Act of 1910. This Act, among...

...definition contained in Section 3 (a) (3) of the Act, which defines an investment company to include any issuer which is engaged or proposes to engage...trading in securities, and owns or proposes to acquire in26 SEC— ICA— 1084 vestment securities having a value exceeding 40 per centum of the value of...

...Installment type, or has been engaged In such business and has any such certificate outstanding or (3) is engaged or proposes to engage in the business of...or proposes to acquire Investment securities having ft value exceeding 40 percent of the value of such Issuer's total assets (exclusive of Government securities...

...of businesses." * Section 3 (a) (3) defines an investment company to Include any Issuer which "(3) Is engaged or proposes to engage in the business of...securities, and owns or proposes to acquire Investment that it is primarily engaged through a controlled company in a business other than that of investing,...

...3 (a) (3) of the Act defines an investment company as one which a engaged or proposes to engage !n the business of investing, reinvesting, owning, holding,...or proposes to acquire investment securities having • value exceeding 40% of the value of the company's total assets (exclusive of Government securities...

...installment type, or has been engaged In such busineu and has any such certificate outstanding; or (8) Is engaged or proposes to engage in the business of...investing, reinvesting, owning, holding, or trading In leeurities, and owns or proposes to acquire Investment securities having • value exceeding 40 per...

...from such manufacturing activities, held entitled to an order declaring it not to be engaged primarily in the business of investing, reinvesting, owning, holding, or trading in securities and therefore excepted from the definition of "Investment company." APPEARANCES : Irving Schiller, of the...

...investment fund, there is nothing in the record to indicate that the applicant was or has been engaged in the business of investing, reinvesting, owning, holding or trading in securities. Applicant accounts for the maintenance of this large invested surplus on the ground that its directors...

.....->•">"•• gaged or proposes to encage in the business of investing, reinvesting, owning, holdinr or trading in securities, and owns or proposes to acquire investment securities harlot a value exceeding 40 per centum of the value of such issuer's total assets (exclusive oi Government...