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SELECT COMMITTEE ON SMALL BUSINESS.
HOUSE OF REPRESENTATIVES
A RESOLUTION CREATING A SELECT COMMITTEE TO CONDUCT
STUDIES AND INVESTIGATIONS OF THE PROBLEMS
OF SMALL BUSINESS
MARCH 17 AND 18, 1964
Printed for the use of the Select Committee on Small Business
For sale by the Superintendent of Documents, U.S. Government Printing Office
Washington, D. C., 20402 - Price 60 cents
„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
Bezanson, Peter, president, Iowa Growth Investment Co., Cedar Page
Brimacombe, F. C., Chief, Financial Reports Division, Small Business
Burlage, D. H., president, Small Business Investment Corp. of Nor-
folk, Norfolk, Va.
Davis, Lee, president, Lee Davis & Associates, Inc., Nashville, Tenn. 3
Foley, Eugene P., Administrator, Small Business Administration,
Kelley, Richard E., Deputy Administrator for Investment Division,
Small Business Administration, Washington, D.C.-
Lord, Grogan, president, Texas Capital Corp., Georgetown, Tex. 130
McCurrach, George A., president, Florida Capital Corp., Palm Beach,
Phelan, James, Chief of Compliance Section, Small Business Adminis-
tration, Washington, D.C.
Pratt, Robert H., president, Virginia Capital Corp., Richmond, Va.. 112
Puett, Nelson, Jr., Austin, Tex-
Ruvelson, Alan K., president, First Midwest Capital Corp., Minne-
Smith, T. Eugene, executive vice president, Potomac Small Business
Funds, Inc., Annandale, Va..
Tsui, T. L., president, General Business Investment Corp., Washing-
Williams, Carrington, counsel, Potomac Small Business Funds, Inc.,
Brown Engineering Co., Inc., Huntsville, Ala., letter to Hon. Joe L.
Evins, March 16, 1964...
Cummings, Milton K., statement-
Gulf-Southwest Capital Corp., Houston, Tex.:
Directors (list) -
To Our Stockholders, letter of January 24, 1964.-
Tyson, A. Knox, letter to Richard L. Mitchell, committee counsel,
March 5, 1964..
House Select Committee on Small Business, authorizing resolution. 1
Levy County, Fla., Chamber of Commerce, letter to SBA, March 3,
Morris Plan Co. of Cedar Rapids, consolidated statement of condi-
tion, January 31, 1964..
NASBIC News, March 1964, "House Committee Begins Hearing on
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.
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..
Exhibit B, firms financed by Virginia Capital Corp., with interest
rate and type of financing--
Exhibit C, letter from Houston Instrument Corp. to Senator
John J. Sparkman, September 23, 1964, re S. 298..
Public Law 88–273, amending the Small Business Investment Act of Page
Public Law 88-273, section 312, conflicts of interest.
Puett, Nelson, Jr., Austin, Tex:
Revised schedule 14D, filed with SEC.
Schedule 14B Questionnaire, filed with SEC-
Letter to Kenneth S. Battye, February 26, 1964.
Letter to Joseph Bernstein, January 7, 1964..
Letter to fellow stockholders, December 14, 1963.
Letter to Gulf-Southwest directors, January 6, 1964.
Letter to Willard 0. Hunter, January 13, 1964.
SBA regulation 107.716, self-dealing limitation -
SBIC Newsletter, "House Small Business Committee Schedules 2-day
SBIC's publicly held—vital statistics (table) (from SBIC market
report, March 1964)..
Small Business Administration exhibits:
Small business investment companies, summary of proposals
received, licenses issued, etc., by period—cumulative through
February 29, 1964.-
Small business investment companies proposals received and
processed (chart) --
Small business investment companies proposals and licenses
Small business investment companies proposed initial capital
Financial structure and current borrowing power of licensed
Investment company section 302 growth sub/deb applications
Section 303 loans to SBIC's, summary of applications received,
disposed of, and pending, by period—cumulative through Feb-
ruary 29, 1964..
Investment company loan section 303 applications (chart).
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..
Summary of section 502 development company loan applications
received, disposed of, and pending—by period cumulative
through February 29, 1964.-
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).
Development company loan section 502 applications (chart). 172
Local development company loans disbursed, by types, cumulative
through February 29, 1964.-
SBIC debentures and loans and State development company loans
disbursed, cumulative through February 29, 1964..
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).
Small Business Administration, letter from Richard Kelley to Hon.
Joe L. Evins, April 17, 1964.
Exhibit 1-Insider trading..
Exhibit 2-Effective cost of money.
Exhibit 3—Comments on proposed amendment of rule 17a-6
under the Investment Company Act of 1940.
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.---
Public Law 88–273, amending the Small Business Investment
Act of 1958..
Wall Street Journal, July 2, 1963, "Double Standard-Usual
Federal Frown on Conflicts of Interest Absent in SBIC
Wall Street Journal, July 8, 1963, “Flexible Federal Ethics”. 222
Small Business Administration-Continued
Exhibit 4-Affiliated transactions—SBA's reply to Wall Street
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
Southeastern Capital Corp., Nashville, Tenn., proxy statement, July
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).