For sale by the Superintendent of Documents, Washington, D. C.

LOCITED BY THE LATED STATES OF AMERICA

JUL 2 41

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C.

March 1941

JEROME N. FRANK, Chairman.

Took oath of office December 27, 1937, elected Chairman May 18, 1939.

ROBERT E. HEALY, Commissioner.

Took oath of office July 2, 1934.

EDWARD C. EICHER, Commissioner.
Took oath of office December 2, 1938.

LEON HENDERSON, Commissioner.
Took oath of office May 18, 1939.

SUMNER T. PIKE,* Commissioner.
Took oath of office June 4, 1940.

FRANCIS P. BRASSOR, Secretary.
Took oath of office August 24, 1934.

GEORGE C. MATHEWS.

Took oath of office July 2, 1934 and resigned April 15, 1940.

Commissioner Pike took his oath of office on June 4, 1940 and did not participate in the consideration or disposition of any of the cases in this volume.

6 S. E. C.

III

CONTENTS

Page

Members of the Securities and Exchange Commission..

Table of decisions and reports citing sections of acts involved.

Decisions and Reports of the Commission.

III

VII

1