› COMMITTEE ON BANKING AND CURRENCY.

UNITED STATES SENATE

NINETIETH CONGRESS

FIRST SESSION

ON

S. 510

A BILL TO PROVIDE FOR FULL DISCLOSURE OF CORPORATE
EQUITY OWNERSHIP OF SECURITIES UNDER THE SECURITIES
AND EXCHANGE ACT OF 1934

HARRISON A. WILLIAMS, JR., New Jersey JOHN G. TOWER, Texas

Manuel F. Cohen, chairman, Securities and Exchange Commission; ac-

companied by Philip A. Loomis, Jr., general counsel

Thomas H. Kuchel, U.S. Senator from the State of California_

Herbert F. Kahler, secretary and general counsel, International Silver Co.

Samuel L. Hayes III, professor of finance, Columbia University__

WEDNESDAY, MARCH 22

Donald L. Calvin, vice president, New York Stock Exchange; accom-

panied by Philip West, vice president and director of the department of

stock list; and Gene McHam, executive assistant__

Ralph S. Saul, president of the American Stock Exchange; accompanied

by Thomas A. McGovern, counsel..

Robert W. Haack, president, National Association of Securities Dealers,

Inc; accompanied by Lloyd J. Derrickson, general counsel and secretary_

Arthur Fleischer, Jr., attorney, of New York City.

Stanley A. Kaplan, professor of law, University of Chicago-

Robert H. Mundheim, professor of law, University of Pennsylvania_

William H. Painter, professor of law, University of Missouri at Kansas

City..

TUESDAY, APRIL 4

Francis R. Schanck, first vice president, Investment Bankers Association

of America; accompanied by Donald Regan, vice president for govern-

mental relations; W. Bruce McConnel, Jr., chairman, Federal Security

Acts Committee; and Gordon L. Calvert, general counsel...

Stanley Foster Reed, editor and publisher, Mergers and Acquisitions, the

Journal of Corporate Venture, Washington, D.C..

Manuel F. Cohen, Chairman, Securities and Exchange Commission;

accompanied by Philip A. Loomis, Jr., general counsel

ALPHABETICAL LIST OF WITNESSES

165, 173

Calvert, Gordon L., general counsel, Investment Bankers Association of

America_

175

148

Calvin, Donald L., vice president, New York Stock Exchange.
Cohen, Manuel F., Chairman, Securities and Exchange Commission
Derrickson, Lloyd J., general counsel and secretary, National Association
of Securities Dealers, Inc. -

69

15, 175

106

Fleischer, Arthur, Jr., attorney, of New York City.

114

Haack, Robert W., president, National Association of Securities Dealers,
Inc

106

Hayes, Samuel L. III, professor of finance, Columbia University
Kahler, Herbert F., secretary and general counsel, International Silver Co.
Kaplan, Stanley A., professor of law, University of Chicago..
Kuchel, Thomas H., U.S. Senator from the State of California.
Loomis, Philip A., Jr., general counsel, Securities and Exchange Com-
mission

53

47

114

41

15, 175

III