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STANFORD LIBRARIES

Senator DOWNEY. Do I understand that investment trusts and of the Securities : are virtually in agreement now!

Senator WAGNER. Not virtually but acti

Senator DowNEY. That is a most amaz world right now.

Senator WAGNER. I think it is.

Senator DOWNEY. It is really the first heard in several weeks. How was this mi

Mr. SCHENKER. I think I might fairly s is attributable to the cooperative spirit of t

Senator DOWNEY. I am glad to hear tha of what we may expect from now on.

Senator HERRING. Mr. Schenker, could for the subcommittee?

Mr. SCHENKER. Certainly.

Senator WAGNER. It is another illustratio tion. I do not care to recall particularly tl man of the National Labor Relations Boai Senator. It was a busy time, let me tell yo I learned that notwithstanding people ma apart, yet when they actually sit down at another and talk to one another, in 99 cases agreement. I think all too often we keep: down and talk things over.

Senator HUGHES. Mr. Chairman, I think now.

Senator WAGNER. Oh, I do not know ab trying to point out what can be achieved w cooperate by sitting down and talking over

Mr. HEALY. I think we ought to give full this subcommittee; and I think, further, t] for the closed-end investment trusts and Mi open-end companies, have been very patient their end of this matter. I think they are of the credit, if there is any.

Senator WAGNER. I am willing they shal Mr. Jaretzki in New York as not only a very tious attorney but one who is interested in

Senator DOWNEY. Mr. Chairman, is it not scientiousness and ability go together in the seemed to emphasize one of them.

Senator WAGNER. Oh, no. I was just exi York feel about Mr. Jaretzki.

STATEMENT OF ALFRED JARETZKI, JR.,

OF SULLIVAN & CROMWELL, NE Mr. JARETZKI. Might I just say this in resp suggestion: I think both the representativ Exchange Commission and of our group

] throughout our discussions of the point of this subcommittee as indicated by the vario during the hearings. I think we have end

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