HEARINGS BEFORE THE IMITTEE 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 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 13 FEBRUARY 14 TO FEBRUARY 20, 1934 Printed for the use of the Committee on Banking and Currency CONTENTS Testimony of Altschul, Frank, New York City, chairman of the committee on Page 5963, 6007 5851, 5885, 5911, 5919, 5954, 6027, 6065. Cutten, Ruloff E., member of the firm of E. F. Hutton & Co--. (Italics indicate page on which exhibit was admitted into the record. indicates page on which exhibit is printed) Roman type Page 1. Statement presented by Mr. Russell R. Brown----. 5856 (*) 3. Three option agreements granted to Frank E. Bliss, the first dated February 15, 1932‒‒‒‒‒ 5859 4a. Copy of option agreement, Brown to Prentice & Slepack, June 11, 1932_. 5870 4b. Option agreement dated July 11, 1932, from R. R. Brown and Richard H. Grimm to Prentice & Slepack, 5870_-. 5871 4c. Option agreement dated July 22, 1932, from Russell R. Brown and R. H. Grimm to Prentice & Slepack, 5870 5871 5. Option agreement dated August 9, 1932, from Russell Brown to Stephen M. Ames___. 5877 6 a, b, c, and d. Four option agreements between Russell R. Brown and Ruloff E. Cutten, dated respectively September 12, 1932; September 12, 1932; December 12, 1932; and March 12, 1933 5884 7. Copy of confidential report on American Commercial Alcohol Corporation, Coleman to Cutten_-_ 5898 8. Copy of market letters, E. F. Hutton & Co., commencing with September 12, 1932__ 5900 9. Copy of memorandum of agreement dated May 2, 1932, between Russell R. Brown and Thomas E. Bragg-. 5912 10. Copy of report made by accounting department of the New York Stock 5916 5987 5995 13. Copy of letter, dated July 1, 1933, Colby to committee on stock list, New York Stock Exchange_. 5946 *Not printed because of length or for reasons given in text. 14. Original minute book of the board of directors and stockholders of the American Commercial Alcohol Corporation, 5954- 15. Memorandum dated June 7, 1933, from L. Hasselbach to George Tirrell____ Page 5969 16. Memorandum dated June 12, 1933, with regard to additional listing of 51,293 shares American Commercial Alcohol Corporation stock 5970 17. Memorandum dated July 10, 1933, in regard to 15,000 shares American Commercial Alcohol Corporation common stock__. 5971 18. Two-page document dated July 5, 1933, and headed “ Memorandum for Mr. Tirrell in re American Commercial Alcohol Corporation" etc., 5972. 19. Letter dated July 1, 1933, from Cecil Page, secretary American Commercial Alcohol Corporation, to Mr. Louis Hasselbach___ 5973 5975 20. Questionnaire, June 2, 1933, American Commercial Alcohol Corporation to listing committee, New York Stock Exchange_-_. 5983 (*) 21. First proof of printed application, 6013_. 22. Pro forma balance sheet of Noxon, Inc., dated June 27, 1933, 6014---23. Letter dated July 1, 1933, signed by Mr. Colby and addressed to the committee on stock list of the New York Stock Exchange, 6017____ 24. Proof no. 3 of the application of the American Commercial Alcohol Corporation, dated June 27, 1933, containing the pro forma balance sheet, 6018__. 25. Document showing list of data and information required by the stock list committee, and which must be furnished by applicants seeking listing, 6020_ 26. Agreement dated May 31, 1933, between American Commercial Alcohol Corporation, Thomas E. Bragg, and syndicate participants____ 6033 27. Pool agreement dated May 2, 1933, between Thomas E. Bragg and K. B. Phagan et al--- 28. Letter dated July 7, 1933, from B. E. Smith to W. E. Hutton & Co. 29. Letter dated July 31, 1933, from B. E. Smith to W. E. Hutton & Co___ 30. Letter dated August 3, 1933, from B. E. Smith to W. E. Hutton & Co. 31. Statement of account no. 296, B. E. Smith-American Commercial Alcohol, with W. E. Hutton & Co.. 32. Answer of Wright & Sexton to questionnaire, dated November 17, 1933 6043 6059 6059 6059 6064 6076 33. Printed questionnaire_ 6077 34-47. Photostatic copies of 14 optional agreements made during the year 1933, identified by the witness, 6106_. 6150 48-51. Photostatic copies of four optional agreements made during the 6158 6161 60. The option dated March 10, 1932, from Redmond & Co. to Messrs. Wright & Sexton---. 6130 61. The option, dated May 6, 1932, from Redmond & Co. to Messrs. Wright & Sexton___. 6130 • Not printed because of length or for reasons given in text. |