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-4.8. Congress, Senate.

HEARINGS

BEFORE A

SUBCOMMITTEE OF THE

COMMITTEE ON BANKING AND CURRENCY. UNITED STATES SENATE

EIGHTY-SIXTH CONGRESS

FIRST SESSION

ON

VARIOUS BILLS TO AMEND THE SMALL BUSINESS
ACT OF 1953 AND THE SMALL BUSINESS

INVESTMENT ACT OF 1959

43183

JUNE 22, 29, 30, JULY 1, 7, 20, 21, AND 22, 1959

Printed for the use of the Committee on Banking and Currency

UNITED STATES
GOVERNMENT PRINTING OFFICE

WASHINGTON: 1959

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Andersen, Kenneth, executive vice president, Scientific Apparatus

Makers Association, Chicago, Ill...

Baird, J. Kenneth, General Counsel, Dittmore-Freimuth Corp., Mil-
waukee, Wis..

Barnes, Wendell B., Administrator; Duncan H. Read, Deputy Ad-

ministrator, Investment Division; Philip McCallum, General Coun-

sel; Keith Hanna, Controller; and John Barber, Assistant Chief,

Budget and Reports Division, Small Business Administration_

Barron, Paul A., Director, Procurement and Business Services Divi-

sion, and Robert T. Daly, Assistant Commissioner for Purchase and

Stores, Federal Supply Service, General Services Administration___

Brann, Paul W., director, Mississippi Industrial Research Center,

Jackson, Miss...

Cahn, Bernard D., attorney and financial consultant, New York City,

and member, National Council of Consultants, Small Business Ad-

ministration..

Calder, Stephen A., vice president, and Charles M. Noone, secretary

and general counsel, National Association of Small Business In-

vestment Companies; and Charles Netter, attorney, Southeast In-

vestment Co. of Florida..

Coffin, Frank M., a Representative in Congress from the State of

Maine

Dilworth, Richardson, mayor of Philadelphia, on behalf of the Ameri-

can Municipal Association..

Duncan, Andrew W., Director for Small Business Policy, Office of the

Secretary of Defense; Harry R. Van Cleve, Office of the General

Counsel; and Leonard Etheredge, Office of Director for Procurement

Policy, Office of Assistant Secretary of Defense for Supply and Lo-

gistics, Department of Defense. -

Engle, Morris, National Licensed Beverage Association, and James
O'Donnell of Counsel....

Page

369

285

Fisher, Stanley M., General Counsel, Small Business Investment Co.
of Ohio, Cleveland, Ohio..

202

Fraser, Hugh W., Jr., president, The Citizens & Southern Small
Business Investment Co., Atlanta, Ga..

138

Graham, Thomas, and Tyrus H. Davis, Southern Small Business In-
vestment Co., Louisville, Ky.

213

Jacobson, Nathan S., chairman of the board, and Jerome Goldfein,
president, United Small Business Investment Corp., Baltimore, Md.

191

Statement of-Continued

Kay, Robert B., general counsel, Trinity Small Business Investment
Co., Greenville, S.C...................

Koteen, Bernard, secretary, a director, and general counsel, and

Robert S. Green, Electronics Capital Corp---

Lane, Mills B., Jr., vice president, and Donald L. Rogers, executive
director, Association of Registered Bank Holding Companies_--_--
MacMillen, William C., Jr., president, Colonial Trust Co., New
York, N.Y

Miller, George J., Jr., president, Baltimore Business Investment Co.,

Baltimore, Md..

Miskelly, Clifton R., managing director, Vermont Development Com-
mission, Montpelier, Vt.; and Paul Menk, executive vice president,
Association of State Planning and Development Associations-----

Reischer, Dr. Otto, Annandale, Va.............

Roesler, M. Stuart, vice president and director of Empire Trust Co.,

New York City; Henry A. Loeb, partner, Carl M. Loeb, Rhoades

& Co., New York City; and Robert Hack, counsel.-

Sartwell, Mrs. Franklin G., immediate past president, Southwest

Citizens' Association___

St. John, J. H., vice president, Heyer Products, Inc., Belleville, N.J.-

Shepheard, William L., president Air-A-Plane Corp., Norfolk, Va.---

Sterns, Joel H., assistant to the commissioner of conservation and

economic development, State of New Jersey; and Paul Menk,

executive vice president, Association of State Planning and Develop-

ment Associations.

Stockton, John R., Director, Bureau of Business Research, University
of Texas.

Strong, Earl P., director, Bureau of Business Research, Pennsylvania

State University, on behalf of Associated University Bureaus of

Business and Economic Research...

Thomas, Herbert L., chairman of the board, First Arkansas Develop-
ment Finance Corp., Little Rock, Ark.

Thompson, Loren, Parkersburg Tool & Die Co., Parkersburg, W. Va_
Weimer, Dean Arthur, School of Business, Indiana University.

Welch, J. E., deputy general counsel, and R. H. Rumizen, attorney,
Office of General Counsel, General Accounting Office...

White, Dr. Wilford, Director, Office of Management and Research

Assistance, Small Business Administration; and Ross D. Davis,

Assistant General Counsel, Small Business Administration__

Woodruff, Dean A. M., George Washington University, Washington,
D.C...

Memorandums, statements, letters, etc., submitted for the record by-

Agriculture Department: Report on S. 1666_ _

American Bankers Association:

Page

209

125

238

435

430

406

387

459

319

465

Article by Andrew P. Murphy, Jr., and Charles H. Nelter____

Andersen, Kenneth, executive vice president, Scientific Apparatus
Makers Association, Chicago, Ill.: Statement...

455

Bellew, F. H., vice president and general manager, Marinette Marine
Corp., Marinette, Wis.: Letter to committee.

507

Braude, Marvin L., president, Capital for Small Business, Inc., Los
Angeles, Calif.: Letter to committee..

306

Brann, Paul W., director, Mississippi Industrial Research Center,
Jackson, Miss.: Statement..

427

Bromberg, Stephen A., Detroit, Mich.: Letter to committee..
Burger, George J., vice president, National Federation of Independent
Business: Statement..

306

355

Cahn, Bernard D., attorney and financial consultant, New York City,
and member, National Council of Consultants, Small Business
Administration: Statement__.

283

Calder, Stephen A., vice president, National Association of Small
Business Investment Companies: Statement and correspondence
with SBA and Senator Proxmire..

161

Coffin, Frank M., a Representative in Congress from the State of
Michigan: Statement--

442

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