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HEARINGS

BEFORE THE

COMMITTEE ON BANKING AND CURRENCY UNITED STATES SENATE

SEVENTY-THIRD CONGRESS

SECOND SESSION

ON

S.Res. 84

(72d CONGRESS)

A RESOLUTION TO INVESTIGATE PRACTICES OF STOCK
EXCHANGES WITH RESPECT TO THE BUYING AND
SELLING AND THE BORROWING AND LENDING
OF LISTED SECURITIES

AND

S.Res. 56 and S.Res. 97

(73d CONGRESS)

RESOLUTIONS TO INVESTIGATE THE MATTER OF BANKING OPERATIONS AND PRACTICES, TRANSACTIONS RELATING TO ANY SALE, EXCHANGE, PURCHASE, ACQUISITION, BORROWING, LENDING, FINANCING, ISSUING, DISTRIBUTING, OR OTHER DISPOSITION OF, OR DEALING IN, SECURITIES OR CREDIT BY ANY PERSON OR FIRM, PARTNERSHIP, COMPANY, ASSOCIATION, CORPORATION, OR OTHER ENTITY, WITH A VIEW TO RECOMMENDING NECESSARY LEGISLATION, UNDER THE TAXING POWER OR OTHER FEDERAL POWERS

PART 16

National Securities Exchange Act (continued)
MARCH 23 TO APRIL 5, 1934

Printed for the use of the Committee on Banking and Currency

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HEARINGS

BEFORE THE

COMMITTEE ON BANKING AND CURRENCY
UNITED STATES SENATE

SEVENTY-THIRD CONGRESS

SECOND SESSION

ON

S.Res. 84

(72d CONGRESS)

A RESOLUTION TO INVESTIGATE PRACTICES OF STOCK
EXCHANGES WITH RESPECT TO THE BUYING AND
SELLING AND THE BORROWING AND LENDING
OF LISTED SECURITIES

AND

S.Res. 56 and S.Res. 97

(73d CONGRESS)

RESOLUTIONS TO INVESTIGATE THE MATTER OF BANKING
OPERATIONS AND PRACTICES, TRANSACTIONS RELATING TO
ANY SALE, EXCHANGE, PURCHASE, ACQUISITION, BORROW-
ING, LENDING, FINANCING, ISSUING, DISTRIBUTING, OR
OTHER DISPOSITION OF, OR DEALING IN, SECURITIES OR
CREDIT BY ANY PERSON OR FIRM, PARTNERSHIP, COMPANY,
ASSOCIATION, CORPORATION, OR OTHER ENTITY, WITH A
VIEW TO RECOMMENDING NECESSARY LEGISLATION, UNDER
THE TAXING POWER OR OTHER FEDERAL POWERS

ᏢᎪᎡᎢ 16

National Securities Exchange Act (continued)
MARCH 23 TO APRIL 5, 1934

Printed for the use of the Committee on Banking and Currency

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CONTENTS

Page

Backus, Edward W., Minneapolis, Minn__

7645

Black, Eugene R., Hon., Governor of the Federal Reserve Board, Wash-
ington, D.C___

7415

Butcher, Howard, Jr., president of the Philadelphia Stock Exchange,
Philadelphia, Pa..

7455

Chinlund, Edwin F., representing Controllers Institute of America, New
York City, N.Y___

7491

7470

Untermeyer, Samuel, attorney at law, New York City---
Whitney, Richard, president of the New York Stock Exchange__

7703, 7731

-----

7479, 7537

EXHIBITS

Telegrams to Senator William Gibbs McAdoo___

Telegrams to Senator Phillips Lee Goldsborough_
Letter to Hon. Duncan U. Fletcher from Federal Reserve Board..
Memorandum regarding proposed revision of reserve requirements as to
member banks__

7411, 7412
7413

7437

7437

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