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TABLE 23.-Oases in which the Commission participated as intervenor or as amicus curiae, pending during the fscal year ended

June 30, 1962

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Feb. 21, 1961 Action under Sec. 20(c) and 10(b) of the 1934 Act, and Rule 10b-5 thereunder, alleging that the plaintiff

was fraudulently induced by Albert to transfer its stock or other assets in connection with transactions
whereby Bellanca acquired assets of other companies and that Albert hindered the filing of reports
required by the Act. The defendant-directors of Bellanca aided and abetted the fraud on the corpora-
tion by authorizing, acquiescing in or ratifying Albert's actions in connection with these transactions.
Commission's memorandum Mar. 6, 1961, as amicus curiae in opposition to motion to dismiss the

complaint, served. Pending.
Jan. 4,1961 An action based upon Sec. 16(b) of the 1934 Act, in which recovery was denied for "short swing" profits

realized by a partnership from trading in securities of a corporation of which a partner was a director.
Decision Dec. 20, 1960, affirming the judgment of the district court. Petition by appellant for rehearing
and motion Jan. 4, 1961, by the Commission for leave to participate amicus curiae denied by CA-2 on
Feb. 21, 1961. Petition for writ of certiorari to the Supreme Court filed. Commission's brief Apr. 1961,
Amicus curiae, in support of petition for certiorari, filed. Supreme Court, Apr. 24, 1961. granted petition
for certiorari. Brief of SEC amicus curiae in support of appellant filed Aug. 1981. Oral argument filed

in Dec. 1961. Decision rendered affirming the order of CA-2. Closed.
Feb. 8, 1961 Action under the Investment Company Act of 1940,

in connection with petition for rehearing since there is
JJune 9, 1961 a question of law as to whether a private right of action lies under this Act. Order Feb. 8, 1961, denying

petition for rehearing of opinion Jan. 13, 1961, reversing district court order and denying Commission
participation. Petition by Managed Funds, Inc., for writ of certiorari to the Supreme Court, filed.
Commission's brief June 9, 1961, amicus curiae in support of petition for certiorari. Certiorari granted
June 19, 1961. Order Apr. 16, 1962, entered dismissing the writ of certiorari as moot, vacating judgment

of CA-8 and remanding case to district court. Closed.
Dec. 1960 Action under Secs. 20(a), 36 and 37 of the Investment Company Act of 1940. Commission's memorandum

Dec. 12, 1960, as amicus curiae served. Brief and reply briefs filed. Commission's supplemental memo-
May 4, 1961 randum Mar. 1, 1961, amicus curiae, served. Opinion Mar. 9, 1961, denying motion to dismiss. De-

fendants' application for leave to appeal granted May 3, 1961, by CA-2. Briefs filed in CA-2. Commis-
sion's brief May 16, 1961, amicus curiae filed. Decision by CA-2 affirming order of the district court.

Closed.
May 3, 1961 Action against directors for violations of the Investment Company Act of 1940. The preliminary issue
raised in this appeal is whether the provision of the trust agreement requiring security

for expenses may
be enforced in the face of Sec. 17(h) of the Act. District court had directed that such security be posted.
Commission's brief amicus curiae served Oct. 16, 1961. Opinion by CA-2 reversing the decision of the

district court. Closed.
Feb. 0, 1961 Shareholder class action under Sec. 10(b) of the 1934 Act, and Sec. 12(2) and 17(a) of the 1933 Act, in which

plaintiff demands recovery. Commission moved to participate as amicus. Commission memorandum
Mar. 10, 1961, amicus curiae served. Memorandum decision entered finding no basis for complaint
filed by plaintiff. Ordered on Oct, 20, 1961, that judgment be entered for defendants. Pending.

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Moses, W.8., et al., v. Fred 5th Circuit.

Mar. 31, 1961 Action on questions relating to various Sections of the 1933 Act. Notice of appeal filed July 23, 1960, Michael, et al.

from the order of the district court entered June 25, 1960, granting appellees recovery of the purchase
price of undivided working

interests which interests were allegedly sold in violation of the 1933 Act.
Briefs fled. Commission's brief May 13, 1961, amicus curiae maintaining that the order of the district
court should be affirmed. Opinion July 20, 1961, affirming the orders of the district court granting
summary judgments under Sec. 12(1) of the 1933 Act. Petition for rehearing filed Aug. 8, 1961, and

denied Sept. 6, 1961. Closed
Saminsky, Hyman, et al., v. Court of Chancery of | Mar. 30, 1962 Action in which Chancellor Seitz decided that the Keystone Funds' principal underwriting contract
Charles C. Abbott, et al. the State of Dela-

was void under Sec. 47(b) of the Investment Company Act of 1940, because it had extended over a longer
ware.

period than is permitted under Sec. 15(b) of that Act. Motion filed by Commission for amicus curiae
participation on March 30, 1962. Order Apr. 25, 1962, appointing Commission an amicus curiae.

Pending,
Sawyer, Harriet B.

v. Plo-
9th Circuit

Mar. 28, 1961 Action under Sec. 10 of the 1934 Act, as implemented by Rule 105-5. Commission's brief Mar. 28, 1961,
neer Mill Co., Ltd., et al.

amicus curiae served. Briefs and reply briefs filed. Commission's reply brief May 20, 1961, filed.
Order June 15, 1961, directing the case be heard en banc. Judgment entered on Mar. 14, 1962, affirming

order of district court. Pending.
Silver, Harold J., et al., v. 2d Circuit.
New York Stock Exchange. (USSC.

Nov. 20, 1961 Action in which the Commission appears as amicus curiae to insure the right and duty of registered stock

exchanges to discipline their members for violations of the Securities Exchange Act of 1934. Memoran-
dum of amicus curiae filed by Commission on Dec. 24, 1961. Opinion of CA-2 reversing and remanding
judgment of district court, granting plaintiff's motion for summary judgment Apr. 4, 1962. Petition for

writ of certiorari filed May 31, 1962, from the order of Apr. 4, 1962. Pending.
Silverman, Bertha v. Alfons Southern District of
Landa and Fruehauf Trail- New York.

Nov. 27, 1961 An action based upon alleged violations of Sec. 16(b) and (c) of the 1934 Act, in which recovery is sought
er Co.
(2d Circuit

of "short swing profits realized in transactions in securities of a company and individual. Memoran-
dum of the Commission amicus curiae served Nov. 27, 1961. Opinion and orders denying plaintiff's
motion for summary judgment and granting defendant's motion for summary judgment Dec. 27, 1961.
Notice of appeal filed from this order Jan. 9, 1962. Brief for Securities and Exchange Commission amicus

curiae filed Mar. 23, 1962. Affirmed on appeal susbequent to end of the fiscal year. Pending.
Taussig, Ralph J., et al., v: Delaware.

This is an action which the Commission appears as amicus curiae to set forth its disagreement with certain
Wellington Fund, Inc., et

3rd Circuit.

Apr. 30, 1962 arguments respecting the interpretation of the Investment Company Act of 1940. Appeals filed Apr. 9,
al.

1962, by plaintiffs-appellants from the order of the district court seeking reversal of the denial of money
damages, and by respondents from the order seeking reversal of injunctive order and award of attorneys

fees. Brief of the Commission amicus curiae filed May 15, 1962. Pending.
United Industrial Corp., et Southern District of July 17, 1961 | Private action charging violations of Sec. 14(a) of the 1934 Act, and the Commission's proxy rules. Memo-
al., V. Stanley E. Henwood, California.

randum of the Commission amicus curiae filed July 17, 1961. Judgment for plaintiffs' entered on
et al.

March 9, 1962. Closed.
Warshow, Seymour v. H. Southern District of Oct. 16, 1961 Action concerning the question whether the complaint alleges a violation of Sec. 7(c) of the 1934 Act, and
Hentz & Co.
New York.

Regulation T thereunder. Motion to dismiss filed by defendant. Notice and motion for leave to
participate amicus curiae served Oct. 16, 1961, together with memorandum of law in opposition to
motion to dismiss. Opinion and order entered denying defendant's motion to disiniss Nov. 28, 1961.

Case settled. Closed.
Willheim, Else, et al., v. 2d Circuit.

Apr. 20, 1962 This action is one brought by the plaintiffs derivatively and representatively as stockholders of Investors
John E. Murchison, et al.

Mutual, Inc., a registered Investment Company, to enjoin the performance of the investment advisory
and underwriting distribution contracts heretofore entered into between the defendants, Investors
Diversified Services, Inc., and Investors Mutual, Inc. Motion of Commission for leave to participate
amicus curiae filed Apr. 20, 1962. Brief filed May 2, 1962. Decision by CA-2 affirming the order of
the district court. Petition for rehearing filed June 1, 1962, and denied June 7, 1962. Pending.

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TABLE 24.—Reorganization cases under Chapter X of the Bankruptcy Act pend

ing during the fiscal year ended June 30, 1962, in which the Commission participated when district court orders were challenged in appellate courts

Nature and status of case

Name of case and U.S. Court of

Appeals

Coffeyville Loan and Investment Appeal from order of Sept. 20, 1961, den ying certain portions of ap.

Co., Inc., debtor; Harlow King, pellant's claim against debtor. Commission's response in opposi.
Sebree. Shook, Hardy and tion filed Dec. 15, 1961. Order Dec. 26, 1961, denying petition for
Ottman; and Claud L. Rice, allowance of appeal. Closed.
appellants (10th Circuit).
Colorado Trust Deed Funds, Inc., Notice of appeal filed by Colorado Trust Deed Funds, Inc., from an

Appellant vs. James Thomas, order entered Nov. 6, 1961, dismissing its petition for reorganization III. Boyd Thomas and Securi- under Chapter X of the Bankruptey Act. Briefs filed and hearing ties and Exchange Commission, set for July 27, 1962. Pending.

appellees (10th Circuit). General Stores Corp., debtor; Appeal from order of Mar. 6, 1961, awarding supplemental allowances.

Lewis J. Ruskin, appellant (20 Decision rendered affirming the order denying an additional Circuit).

allowance for services and expenses of the collateral trustee's

application for certiorari. Closed. Inland Gas Corp., et al., debtors; Appeal from order of Apr. 8, 1961, limiting the recovery of expenses

Green Comunittee, et al., appel- by the Green Committee. Brief and appendix of appellee filed lants (6th Circuit).

Nov. 2. 1961. Brief of the Commission filed Nov. 9, 1961. Oral

argument held Mar. 26, 1962. Decision pending. Los Angeles Trust Deed & Mort- Notice of appeal filed by Commission from order of the district

gage Exchange, debtor; Securities court denying motion to dismiss Chapter XI proceedings under an and Exchange Commission, ap- amended petition to comply with provisions of Chapter X. pellants (9th Circuit).

Pending. Parker Petroleum Co., Inc. (Occi- Petition for writ of mandamus and/or prohibition filed by Occidental dental Petroleum Corp. v. Hon- Petroleum Corporation for an order disqualifying Judge Chandler orable Stephen S. Chandler) from proceedings on grounds of personal bias and prejudice. Peti(10th Circuit).

tion for leave to amend and supplement petition for writ of mandamus filed Mar. 12, 1962, and granted Mar. 13, 1962. Memorandum of the Commission in opposition filed Apr. 9, 1962. Opinion per curiam granting petition Apr. 20, 1962. Petition for rehearing filed

and denied June 1, 1962. Closed. Selected Investments Corp., debtor; Appeal from order of the district court denying appellant's compensa

B. H. Carey, appellant (10th tion for legal services and reimbursement of expenses as attorney Circuit).

for debtor. Motion for disinissal of appeal filed by appellant due to satisfactory settlement negotiations. Commission's objections filed Nov. 1, 1961. Order Nov. 20, 1961, remanding case to district

court. Pending. TMT Trailer Ferry, Inc., debtor; Appeal from order of Mar. 6, 1959, confirming trustee's plan of reor.

Protective Committee for Inde- ganization and various other orders dated Aug. 12, 1960. Aug. 15, pendent Stockholders, Arthur H. 1960, Sept. 30, 1960, Dec. 22, 1960, Feb. 6, 1961, and Apr. 27, 1961. Shaffer, M. James Spitzer, ap- CA-5 on Sept. 9, 1960, denied motion of trustee to dismiss appeal. pellants (5th Circuit) USSC, Order Oct. 4, 1960, consolidating appeals. Commission's telegram

to the Court Jan. 25, 1961, in opposition to appellants' motion to file petition for writ of prohibition and/or mandamus. CA-5 Jan. 26, 1961, denied motion for leave to file petition. Commission's briel as appellee May 15, 1961, stating that the order of the District Court entered Aug. 15, 1960, vacating the order of confirmation of Mar. 6. 1959, should be affirmed or the order of confirmation of the District Court entered Mar. 6, 1959, should be reversed, filed. Briefs and reply briefs filed. Opinion July 7, 1961, by CA-5 affirming the order of the distrcit court vacating a previous order confirming a plan of reorganization under Chapter X. Petition for rehearing filed July 7, 1961, and denied Aug. 18, 1961. Motion by appellants to stay issuance of mandate and denied Sept. 19, 1961. Petition for writ of

certiorari filed Nov. 13, 1961, and denied Jan. 8, 1962. Closed. Scranton Corp. and Hal Roach Appeal filed March 9. 1962, from order of Court approving sale of

Studios, debtors; State of Cali- assets of Hal Roach Studios pursuant to Sec. 116(3) of Chapter X fornia, appellant (3d Circuit). proceedings. Pending.

TABLE 25.--A 29-year summary of criminal cases developed by the Commission

fiscal years 1934-1962
(See table 26 for classification of defendants as broker-dealers, etc.)

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1 The number of defendants in a case is sometimes increased by the Department of Justice over the number against whom prosecution was recommended by the Commission. Also more than 1 indictment may result from a single reference.

: See table 13 for breakdown of pending cases.

332 of these references as to 121 proposed defendants were still being processed by the Department of Justice as of the close of the fiscal year, and also 8 of the prior years references as to 74 proposed defendants.

4 638 of these cases have been completed as to 1 or more defendants. Convictions have been obtained in 548 or 86 percent of such cases. Only 91, or 14 percent, of such cases have resulted in acquittals or dismissals as to all defendants, this includes numerous cases in which indictments were dismissed without trial because of the death of defendants or for other administrative reasons. See note 5, in fra.

Includes 72 defendants who died after indictment.

TABLE 26.-A 29-year summary classifying all defendants in criminal cases

developed by the Commission 1934 to June 30, 1962

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1 Includes persons registered at or prior to time of indictment.

2 The persons referred to in this column, while not engaged in a general business in securities, were almost without exception prosecuted for violations of law involving securities transactions.

TABLE 27.–A 29-year summary of all injunction cases instituted by the Commis

sion, 1934 to June 30, 1962, by calendar year

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1 These columns show disposition of cases by year of disposition and do not necessarily reflect the disposition of the cases shown as having been instituted in the same years.

Includes 26 cases which were counted twice in this column because injunctions against different defend. ants in the same cases were granted in different years.

: Includes 94 defendants in 13 cases in which injunctions have been obtained as to 36 codefendants.

* Includes (a) actions dismissed (as to 611 defendants); (6) actions discontinued, abated, vacated, aban. doned, stipulated, or settled (as to 55 defendants); (c) actions in which judgment was denied (as to 12 defendants); (d) actions in which prosecution was stayed on stipulation to discontinue misconduct charged (as to 4 defendants).

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