Stock Exchange Regulation: Hearing Before the Committee on Interstate and Foreign Commerce, House of Representatives, Seventy-third Congress, Second Session, on H.R. 7852, to Provide for the Registration of National Securities Exchanges Operating in Interstate and Foreign Commerce and Through the Mails and to Prevent Inequitable and Unfair Practices on Such Exchanges, and for Other Purposes; H.R. 8720, to Provide for the Regulation of National Securities Exchanges and of Over-counter Markets Operating in Interstate and Foreign Commerce Or Through the Mails, and to Prevent Inequitable and Unfair Practice Thereon, and for Other Purposes. February 14 to March 24, 1934 |
From inside the book
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Page 34
... percent on the accounts under $ 5,000 and 30 percent on accounts above that ; and the 30 percent is fixed on the debit balance rather than the value of the securities . Furthermore , this act also governs not only the lone relationship ...
... percent on the accounts under $ 5,000 and 30 percent on accounts above that ; and the 30 percent is fixed on the debit balance rather than the value of the securities . Furthermore , this act also governs not only the lone relationship ...
Page 36
... percent of the previous 3 years ' low and that you have not made any such provision regarding short sales . Commissioner LANDIS . Exactly . Mr. MARLAND . Why would it not be just as logical , and a better protection , to provide that ...
... percent of the previous 3 years ' low and that you have not made any such provision regarding short sales . Commissioner LANDIS . Exactly . Mr. MARLAND . Why would it not be just as logical , and a better protection , to provide that ...
Page 39
... percent down payment . Commissioner LANDIS . Sixty percent down payment . Mr. MARLAND . On that down payment . Commissioner LANDIS . That is true . But , why do you think this will operate in favor of the large fellow rather than the ...
... percent down payment . Commissioner LANDIS . Sixty percent down payment . Mr. MARLAND . On that down payment . Commissioner LANDIS . That is true . But , why do you think this will operate in favor of the large fellow rather than the ...
Page 40
... percent is your general stand- ard ; but when it comes to steady stocks , the margin requirement then runs 20 percent of the lowest price that the security has had during the last three years . Mr. KENNEY . Well , the merchant who is in ...
... percent is your general stand- ard ; but when it comes to steady stocks , the margin requirement then runs 20 percent of the lowest price that the security has had during the last three years . Mr. KENNEY . Well , the merchant who is in ...
Page 46
... percentage that you might name is naturally arbitrary and it is sub- ject to controversy , whether 40 percent of the loan value , or 70 percent . Insofar as the investing public is concerned , it has been pretty well demonstrated in ...
... percentage that you might name is naturally arbitrary and it is sub- ject to controversy , whether 40 percent of the loan value , or 70 percent . Insofar as the investing public is concerned , it has been pretty well demonstrated in ...
Common terms and phrases
amount banks believe bill bonds borrow broker brokerage bucket shop BULWINKLE business in securities buy and sell capital CHAIRMAN collateral Commissioner LANDIS committee companies Congress COOPER CORCORAN corporations Curb Exchange deal effect fact Federal Reserve Federal Reserve System Federal Trade Commission give going GOLDENWEISER Government GRUBB HANCOCK HUDDLESTON interstate commerce investment investors issuer KENNEY legislation listed loans MAPES margin requirements MARLAND mean MERRITT national securities exchange O'BRIEN odd-lot dealer officers operations percent person PETTENGILL PIERCE pool practices present profit prohibition protection provision proxies public interest purchase purpose question reason Roper report rules and regulations security registered shares short selling sold specialist speculation statement stock market stockholders stop-loss orders thing tion underwriter unlisted securities WHITNEY WOLVERTON York Curb Exchange York Stock Exchange
Popular passages
Page 7 - Commission shall be final, subject to review by the Supreme Court of the United States upon certiorari or certification as provided in sections 239 and 240 of the Judicial Code, as amended (USC, title 28, sees. 346 and 347).
Page 7 - Circuit Court of Appeals of the United States, within any circuit wherein such person resides or has his principal place of business, or in the United States Court of Appeals for the District of Columbia...
Page 566 - If any provision of this Act, or the application of such provision to any person or circumstance, shall be held invalid, the remainder of this Act, or the application of such provision to persons or circumstances other than those as to which it is held invalid, shall not be affected thereby. SEC. 16. This Act may be cited as the "National Labor Relations Act.
Page 273 - broker" means any person engaged in the business of effecting transactions in securities for the account of others, but does not include a bank. (5) The term "dealer" means any person engaged in the business of buying and selling securities for his own account, through a broker or otherwise, but does not include a bank, or any person insofar as he buys or sells securities for his own account, either individually or in some fiduciary capacity, but not as a part of a regular business. (6) The term...
Page 7 - Individual shall be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which he Is compelled, after having claimed his privilege against self-incrimination, to testify or produce evidence, except that such individual so testifying shall not be exempt from prosecution and punishment for perjury committed in so testifying.
Page 238 - The making of goods and the mining of coal are not commerce, nor does the fact that these things are to be afterwards shipped or used in interstate commerce, make their production a part thereof.
Page 547 - ... any note, draft, bill of exchange, or banker's acceptance which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limited. (11) The term "equity security...
Page 538 - As used in this paragraph the term "issuer" shall include, in addition to an issuer, any person directly or indirectly controlling or controlled by the issuer, or any person under direct or indirect common control with the issuer.
Page 3 - It shall be unlawful for any person, directly or indirectly, by the use of any means or instrumentality of interstate commerce, or of the mails or of any facility of any national securities exchange...