Newspaper articles: "Cherished Myth_Dispelled," from the Washington Post- - . Salt Lake Tribune, "Common Stock Fever: Another 1929?". Page 1178 1177 1179 1167 803 Funston, G. Keith: Prepared statement of... 749 Statement of... 733 Letter and memorandum, submitted at the request of the committee, 743 1030 North Carolina, University of: Letter from Prof. Ernest L. Folk III to Senator Sparkman......... 1000 1001 Oppenheimer Fund, Inc., letter to Senator Bennett from Leon Levy, president. 1130 Opinion, Brown v. Bullock_ 69 Oregon, State of, Department of Commerce, letter to Association of Mutual 537 Pacific Coast Stock Exchange, letter to Senator Sparkman.. 1041 Pennsylvania, University of: Letter from Professors Friend and Mellon to Senator Sparkman... Pioneer Fund Inc., letter to Senator Bennett, from John F. Cogan Jr., president 1144 Princeton University, statement of Prof. Jesse Markham on behalf of the 336 Purchases of mutual fund shares in the State of California, additional information submitted for the record by the SEC.. 55 Questions submitted by Senator Bennett and answers supplied by Mr. Quinby & Co.: Letter to Senator Kenneth B. Keating (with attachments). 90 851 845 Raymond James & Associates, statement of Robert James, president...-- 782 1145 Robbins, Sidney, professor of finance, Columbia University, papers entitled: "Has the SEC Forgotten Its Economics" 1131 "Implications of the Rate-Making Proposals of the SEC in the Mutual Fund Industry". 248 Rubin, Wachtel, Baum & Levin, letter to Senator Sparkman__ 1044 269 Samuelson, Paul A., institute professor, MIT: Prepared statement.. Memorandum on comparison of fund performance with random Statement of.. 369 366 347 Schaub, H. Peter Jr.: Statement entitled "A Dealer looks at the SEC Report on Mutual 1146 Letter to Senator Bennett__ 1145 Schultheis, Laybourne & Dowds, letter to Senator Sparkman, from Norman 1094 Schwartz, Donald E., professor, Georgetown University Law Center, letter to Senator Sparkman__ 1017 Securities and Exchange Commission: Appendix memorandum on principal recommendations in the Commission's report on public policy implications of investment company growth which are embodied in the draft bill submitted by the commission _ _ _ Basic sales loads and dealer concessions of 30 mutual funds, 1950 versus 1966, table... Para 172 87 Brown versus Bullock, opinion submitted for the record.. 69 Questioning by the committee__ Common stocks most actively traded by odd-lotters, 1957-65, table.. Comparative sales charges contractual plan versus voluntary plan, chart... 44 177 157 Costs of acquisition and disposal mutual funds versus NYSE listed stocks, chart.. 146 Income and expenses of advisers as a percentage of average net assets, chart.. Letter and outline of proposed amendments to the Investment Company Act of 1940 with respect to management contracts, submitted by Mr. Robert Augenblick, president and general counsel, Investment Company Institute.. Letter and suggestions for amendment to section 15 of the Investment Company Act of 1940, submitted by Mr. Robert Augenblick, president and general counsel, Investment Company Institute.. 135 98 100 Securities and Exchange Commission-Continued Letter outline, received from the Association of Mutual Fund Plan Memorandum in response to testimony. Mutual Fund Investment Results Compared to the Results Achieved Mutual Funds from the Investor's Viewpoint, by Stuart B. Mead.. Purchases of Mutual Fund Shares in the State of California, additional Page 101 63 1193 175 177 158 55 Questions submitted by Senator Bennett and the answers supplied by Results of investing in common stock mutual funds compared to the Value of mutual fund shares issued and redeemed, 1957-66, chart. 90 108 150 1157 Shelby, Samuel, Fairbanks, Alaska, letter to Senator Gruening. 1045 1159 South Carolina, State of, Department of State, letter to Association of 538 Southern California, University of, letter from Associate Prof. John M. 1053 Steadman Security Corp., prepared statement of Charles W. Steadman, chairman of the board and president 876 Stevens, Glenn, Mayor, Munnsville, N. Y., letters to: Senator Sparkman.. Senator McIntyre.. Templeton, John M., submitted statement.. Texas, State of, State Securities Board, letter to Association of Mutual 1160 1160 1018 538 Time Inc.: Article entitled "Funds Under Fire". Harris, Carl A., letter to... Unaffiliated Directors, list of, submitted by Senator Percy United Funds, Inc., memorandum to Senator Sparkman....... 1114 1113 Twentieth Century Investors, Inc., letter to Senator Sparkman.. U.S. Court of Appeals, Second Circuit: Letter from Henry J. Friendly, circuit judge, to Senator Sparkman.. 1017 1053 204 1056 1014 Valicenti, Leighton, Reid & Pine, letters to Senator Sparkman. 1055 1058 1059 1162 Washington, State of, Division of Professional Licensing, letter to Association of Mutual Fund Plan Sponsors, Inc.. Letter from Brittenum Associates, Inc.. William Jennings & Co., prepared statement of Murray L. Simpson, executive vice president__ Yale University, statement submitted by Prof. Henry C. Wallich.. Young, Randall M., letter to Senator Sparkman....... 1069 1070 791, 794 1059 1163 MISCELLANEOUS CHARTS Aggregate payments versus value or realization, 17,181 accounts. Assets of major institutions and financial intermediaries__ Advisory fee rates of 25 mutual funds on June 30, 1960, and May 31, Assumed $10,000 investment in chemical fund for 15 years.- Completed payment record, 32,782 accounts paid up January 1, 1958- Costs of acquisition and disposal mutual funds versus NYSE listed stocks.. Dividend Shares, Inc., illustration of an assumed investment of $10,000, Illustration of a $10,000 assumed investment 1955-67 in AXE Science Page 523 522 522 283 294 288 157 806 282 523 334 146 293 292 281 290 289 Income and expenses of advisers as a percentage of average net assets. 135 630 282 Investment performance of 169 mutual funds (amended) – – 287 333 Mutual fund, MIP, and brokerage account participation costs for median income mutual fund shareholders_ 332 Profit or loss as a percent of amount paid in contractual plan versus voluntary plan in a balanced fund... 158 Registrations and terminations of mutual funds, 1950-66 333 Securities Brokers and Dealers, location of principal offices.. 631 307 Trend in management advisory fees as a percent of assets. 836 Trend in total operating expenses including advisory fees, as a percent of assets.. 300 Value of mutual fund shares issued and redeemed, 1957–66_. 150 291 MISCELLANEOUS TABLES Accounts started, 1961 to 1965 for 5 leading contractual plan sponsors and all investment company institute and mutual fund plan sponsor member companies.___ Accounts terminated with losses during first 5 years for 5 leading contractual plan sponsors and all member sponsors of the association of mutual fund sponsors for accounts started during the period 1961–65--Advisory fee rates and expense ratios of externally managed mutual funds with June 30, 1966 net assets of $100 million and over for their fiscal years ended in 1966... 490 491 15 Advisory fee rates of 25 mutual funds on June 30, 1960, and May 31, 1967__ Assets and operating earnings of the 25 largest stock life insurance companies, 1966__. 300 301 Assets and operating earnings of the 25 largest banks, 1966.. 301 Average annual rate of growth, on a compound basis, for selected high quality common stocks.. 181 Average per annum rate of growth, on a compound basis, for the best performing funds in the sixties... Basic sales loads and dealer concessions of 30 mutual funds, 1950 versus Changes in breakpoints for mutual funds, 1950-66- Comparison of various savings and investment methods, 1957-66-. Customer-directed give-ups paid and received by sample firms. Distribution of firms by degree of impact of all SEC recommendations in combination... Page 180 87 336 532 531 1050 584 585 588 584 Dreyfus fund accounts_. 999 Effect of all SEC recommendations in combination on 1966 net income (after tax) by size.. 583 Effect of all SEC mutual fund recommendations in combination on 1966 Effect of all SEC mutual fund recommendations in combination on 1966 583 581 582 581 Effect of elimination of customer-directed give-ups on 1966 net income (after tax) of sample firms, by size.. 589 Effect of elimination of sales charge on reinvestment of dividends on 1966 net income (after tax) of sample firms, by degree of concentration in mutual fund business.. Effect of elimination of sales charge on reinvestment of dividends on 1966 1967___ Estimated management cost and expense ratios of internally managed Executive compensation, 14 mutual fund advisory organizations_ 587 587 580 17 220 327 328 285 First reductions in sales commission scales.. 306 Gross sales needed for salesman to earn commissions of $15,000. Investment performance of 169 mutual funds and 1 dart-selected portfolio in a declining market. 807 Investors results: Average per annum rate of growth on a compound basis for mutual funds (3 tables) 178 Mutual fund assets and earnings of management companies, 1966-Mutual fund portfolio activity and investors purchases and redemptions during periods of market decline.... 302 323 New York Stock Exchanges comments on the admendments proposed in 743 |