Imágenes de páginas
PDF
EPUB

4 JUN 25
Copy

1964

BEFORE THE

HEARINGS
Correas. House
SELECT COMMITTEE ON SMALL BUSINESS.

HOUSE OF REPRESENTATIVES

[merged small][merged small][merged small][ocr errors][merged small]

A RESOLUTION CREATING A SELECT COMMITTEE TO CONDUCT
STUDIES AND INVESTIGATIONS OF THE PROBLEMS

OF SMALL BUSINESS

WASHINGTON, D.C.
MARCH 17 AND 18, 1964

Printed for the use of the Select Committee on Small Business

[ocr errors][merged small][merged small]

For sale by the Superintendent of Documents, U.S. Government Printing Office

Washington, D. C., 20402 - Price 60 cents

KF27

:56 1964

PRINTS AND REPORTS

„SELECT COMMITTEE ON SMALL BUSINESS

JOE L. EVINS, Tennessee, Chairman WRIGHT PATMAN, Texas

WILLIAM M. MCCULLOCH, Ohio ABRAHAM MULTER, New York

ARCH A. MOORE, JR., West Virginia TOM STEED, Oklahoma

WILLIAM H. AVERY, Kansas JAMES ROOSEVELT, California

H. ALLEN SMITH, California JOHN C. 'KLUCZYNSKI, Illinois

HOWARD W. ROBISON, New York JOHN D. DINGELL, Michigan

RALPH HARVEY, Indiana
BRYAN HASKELL JACQUES, Staff Director
RICHARD L. MITCHELL, General Counsel
HARRY OLSHER, Consultant
JUSTINUS GOULD, Counsel
GREGG POTVIN, Counsel
CHABLES E. O'CONNOR, Oounsel
HENRY A. ROBINSON, Counsel
MYRTLE ROTA FOOTCH, Olerk
JOHN J. WILLIAMS, Minority Counsel

Testimony of-

Bezanson, Peter, president, Iowa Growth Investment Co., Cedar Page

Rapids, Iowa.

87

Brimacombe, F. C., Chief, Financial Reports Division, Small Business

Administration..

202

Burlage, D. H., president, Small Business Investment Corp. of Nor-

folk, Norfolk, Va.

58

Davis, Lee, president, Lee Davis & Associates, Inc., Nashville, Tenn. 3

Foley, Eugene P., Administrator, Small Business Administration,

Washington, D.C.

143

Kelley, Richard E., Deputy Administrator for Investment Division,
Small Business Administration, Washington, D.C.-

150
Lord, Grogan, president, Texas Capital Corp., Georgetown, Tex. 130
McCurrach, George A., president, Florida Capital Corp., Palm Beach,
Flac-

67
Phelan, James, Chief of Compliance Section, Small Business Adminis-
tration, Washington, D.C.

204
Pratt, Robert H., president, Virginia Capital Corp., Richmond, Va.. 112
Puett, Nelson, Jr., Austin, Tex-

31
Ruvelson, Alan K., president, First Midwest Capital Corp., Minne-
apolis, Minn.

22

Smith, T. Eugene, executive vice president, Potomac Small Business

Funds, Inc., Annandale, Va..

99

Tsui, T. L., president, General Business Investment Corp., Washing-

ton, D.C

80

Williams, Carrington, counsel, Potomac Small Business Funds, Inc.,

Annandale, Va...

99

Additional information:

Brown Engineering Co., Inc., Huntsville, Ala., letter to Hon. Joe L.

Evins, March 16, 1964...

140

Cummings, Milton K., statement-

141

Gulf-Southwest Capital Corp., Houston, Tex.:

Directors (list) -

48

To Our Stockholders, letter of January 24, 1964.-

45

Tyson, A. Knox, letter to Richard L. Mitchell, committee counsel,

March 5, 1964..

49

House Select Committee on Small Business, authorizing resolution. 1
Levy County, Fla., Chamber of Commerce, letter to SBA, March 3,
1964 (excerpt).

148
Morris Plan Co. of Cedar Rapids, consolidated statement of condi-

tion, January 31, 1964..

NASBIC News, March 1964, "House Committee Begins Hearing on

SBIC Program"

97

National Association of Small Business Investment Companies,

Washington, D.C., letter from Walter B. Stults and Charles M.
Noone to Hon. Joe L. Evins, March 25, 1964.

239

Potomac Small Business Funds, Inc., résumé of operations (table)--- 101

Pratt, Robert H., exhibits:

Éxhibit A, Virginia Capital Corp., balance sheet, January 31,

1964, and operating statement for the 10-month period ended

January 31, 1964..

119, 120

Exhibit B, firms financed by Virginia Capital Corp., with interest

rate and type of financing--

121

Exhibit C, letter from Houston Instrument Corp. to Senator

John J. Sparkman, September 23, 1964, re S. 298..

122

95

[ocr errors]

Additional information-Continued

Public Law 88–273, amending the Small Business Investment Act of Page
1958.

212

Public Law 88-273, section 312, conflicts of interest.

22

Puett, Nelson, Jr., Austin, Tex:

Statement

31

Revised schedule 14D, filed with SEC.

39

Schedule 14B Questionnaire, filed with SEC-

41

Letter to Kenneth S. Battye, February 26, 1964.

36
Letter to Joseph Bernstein, January 7, 1964..

35
Letter to fellow stockholders, December 14, 1963.

33
Letter to Gulf-Southwest directors, January 6, 1964.

34
Letter to Willard 0. Hunter, January 13, 1964.

35
SBA regulation 107.716, self-dealing limitation -

22
SBIC Newsletter, "House Small Business Committee Schedules 2-day
SBIC Hearing”

98

SBIC's publicly held—vital statistics (table) (from SBIC market

report, March 1964)..

51-53

Small Business Administration exhibits:

Small business investment companies, summary of proposals

received, licenses issued, etc., by period—cumulative through

February 29, 1964.-

159

Small business investment companies proposals received and

processed (chart) --

160

Small business investment companies proposals and licenses

(chart)..

161

Small business investment companies proposed initial capital

(chart).-

162

Financial structure and current borrowing power of licensed

SBIC's (chart)-

163

Investment company section 302 growth sub/deb applications

(chart)

164

Section 303 loans to SBIC's, summary of applications received,

disposed of, and pending, by period—cumulative through Feb-

ruary 29, 1964..

165

Investment company loan section 303 applications (chart).

166

State development company loan application activity. (sec. 501,

SBI Act of 1958), by region and State, and by period, cumu-

lative through February 29, 1964..

167

Summary of section 502 development company loan applications

received, disposed of, and pending—by period cumulative

through February 29, 1964.-

168

Development company loan application activity (sec. 502,

Small Business Investment Act of 1958), by region, fiscal year

1964 to date (July 1, 1963, through February 29, 1964).

170

Development company loan section 502 applications (chart). 172

Local development company loans disbursed, by types, cumulative

through February 29, 1964.-

173

SBIC debentures and loans and State development company loans

disbursed, cumulative through February 29, 1964..

174

Statistical tabulations of activity data extracted from various

schedules included in the financial report, SBA form 468, sub-

mitted by licensees as of June 30, 1963, and for the 3 months

ended that date (12 tables).

175-187

Small Business Administration, letter from Richard Kelley to Hon.

Joe L. Evins, April 17, 1964.

196

Exhibit 1-Insider trading..

197

Exhibit 2-Effective cost of money.

202

Exhibit 3—Comments on proposed amendment of rule 17a-6

under the Investment Company Act of 1940.

205

Securities and Exchange Commission, notice of proposal to

amend rule 17a-6 to provide certain additional exemptions

from the requirements of section 17(a) of the Investment

Company Act of 1940.---

206

Public Law 88–273, amending the Small Business Investment

Act of 1958..

212

Wall Street Journal, July 2, 1963, "Double Standard-Usual

Federal Frown on Conflicts of Interest Absent in SBIC

Cases”.

217

Wall Street Journal, July 8, 1963, “Flexible Federal Ethics”. 222

Page

Additional information-Continued

Small Business Administration-Continued

Exhibit 4-Affiliated transactions—SBA's reply to Wall Street

Journal's criticism...

Small Business Administration, letter from John E. Horne, to Senator

William Proxmire, July 9, 1963.-

Exhibit 5-Location and capitalization of small business invest-

ment companies, March 31, 1963.--

Small Business Investment Corp. of Norfolk, loans made, by industry

(table)..

Southeastern Capital Corp., Nashville, Tenn., proxy statement, July

15, 1963.
Tennessee Investors, Inc., investments approved in 1960 by, prior to

changing to Southeastern Capital Corp.-.
Texas Capital Corp., company's proposal submitted to SBA (excerpt).

19

8
137

« AnteriorContinuar »