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FEDERAL REGISTER, Thursday, December 29, 1938

3179

12 d, f, or g of the Act, no under any securities to an underwriter as de is directed to proceed immediately to writers or finders fee shall be paid to fined in the Securities Act of 1933, Pro take testimony and evidence on behalf vided, however, That the term shall not of the respondent. The examiner will include any fee paid to an underwriter then close the case and make his report whose participation does not exceed 5% upon the evidence.
of the total offering, if such underwriter By the Commission.
does not receive any commission or re seal
O t is B. J oh nson , muneration whether for originating the Secretary.
issue or otherwise in addition to the 1 any company in the same holding fee F. R. Doc. 383909; Filed, December 28, 1938;
computed at the rate applicable to company system as the applicant or other underwriters who take the same 9:43 a. m.J
declarant, or or similar participation in the offering.
2 any affiliate of such company, or e A finders fee is a fee other than 3 any person who the Commission an underwriters fee paid for services SECURITIES AND EXCHANGE COM
finds stands in such relation to the de other than attorneys, accountants and MISSION.
clarant or applicant, or to the person by similar technical services in connection United States of AmericaBefore the whom the fee is to be paid, that there is with the negotiation or consummation Securities and Exchange Commission liable to be or to have been an absence of an acquisition, issue, or sale of secur of arm s-length bargaining with respect ities or for services in securing under At a regular session of the Securities to the transaction. The Commission writers, sellers or purchasers of secur and Exchange Commission held at its shall not make such finding unless it has ities. C. 687, sec. 20, 49 Stat. 833; 15 office in the City of Washington, D. C.
issued an order to show cause why such U. S. C., Sup. m , 79t Rules and on the 27th day of December 1938.
finding should not be made, which order Regs., Rule U12F-2, effective March 1, File No. 1-246
to show cause shall be returnable on the 1939
I n th e M
atter o f C olonial B eacon O il date and at the place fixed for hearing By the Commission.
C ompany C ommon S tock , W ith o u t upon the application or declaration to seal
F rancis P . B rassor, P ar V alue which it is ancillary, unless the Commis Secretary.
ORDER SETTING HEARING ON APPLICATION TO
sion otherwise orders. Proceedings on STRIK E FROM LISTING AND REGISTRATION
the order to show cause and on the ap F. R. Doc. 38-3918; Filed, December 28, 1938;
12:35 p. m.
plication or declaration shall be consol The New York Stock Exchange, pur idated, unless the Commission sba.ii suant to Section 12 d of the Securities otherwise order. In appropriate cases, Exchange Act of 1934, as amended, and the Commission up application may make Notices Rule X-12D2-1 b promulgated there a finding or render an opinion for pur under, having made application to strike poses of this paragraph in advance of from listing and registration the Com any sale, or a acquisition anyshall se FEDERAL TRADE COMMISSION.
bissue, Paragraph of this of rule mon Stock, Without Par Value, of curity.
for purposes of this rule, not applyExcept in respect of any underwriters Colonial Beacon Oil Company; and a finding by theto Commission under this United States of AmericaBefore fee if it appears the Commission that The Commission deeming it necessary paragraph shall not constitute a finding Federal Trade Commission for the protection of investors that a 1
appropriate and diligent effort for purposes of section 2 a 11 D5 of At a regular session of the Federal hearing be held in this m atter at which was made to obtain competitive bids the Act.
Trade Commission, held at its office in all interested persons be given an oppor for the securities which are the subject the City of Washington, D. C., on the 23rd tunity to be heard;
of the application or declaration, by pub It is ordered, That the matter be set lication or otherwise, and the affiliates day of December, A. D. 1938.
Commissioners: Garland S. Ferguson, down for hearing at 10 A. M. on Tues bid was not less favorable than that of Chairman; Charles H. March, Ewin L. day, January 24, 1939 at the office of the any other bidders; or Davis, William A. Ayres, Robert E. Freer. Securities and Exchange Commission, 2 such effort was not practicable 120 Broadway, New York City, and con and a the fee to be paid does not ex Docket No. 3642
tinue thereafter at such times and places ceed customary fees for similar services where the parties are dealing at arms I n the M atter op J . D. D rushell , T rad as the Commission or its officer herein ing as J . D. D rushell C ompany , and designated shall determine, and th at gen length, b the service rendered is nec eral notice thereof be given; and L aurence A. S m it h essary, and c the remuneration is rea It is further ordered, That Adrian C.
sonable in view of the cost of rendering ORDER APPOINTING EXAMINER AND FIXING
the service, the time spent therein and TIM E AND PLACE FOR TAKING TESTIMONY Humphreys, an officer of the Commis sion, be and he hereby is designated to other relevant factors.
This matter being at issue and ready administer oaths and affirmations, sub c Paragraph a of this rule shall for the taking of testimony, and pursuant poena witnesses, compel their attend not apply in respect of any finders fee to authority vested in the Federal Trade ance, take evidence, and require the pro if the necessity for the employment erf Commission, under an Act of Congress duction of any books, papers, correspond the finder and the reasonableness of the 38 Stat. 717; 15 U. S. C. A., Section 41, ence, memoranda or other records fee are established by a fair prepon It is ordered, That Arthur F. Thomas, deemed relevant or material to the in derance of the evidence.
an of this Commission, be and quiry, and to perform all other duties in d An underwriters fee within the he examiner hereby is designated and appointed connection therewith authorized by law.
meaning of this rule shall include any By the Commission.
to take testimony receive evidence fee, commission, discount or o tter re in this proceeding and seal
F rancis P . B rassor, and to perform all muneration except a finders fee paid other duties authorized by law;
Secretary.
in connection with a public offering of It is further ordered, That the taking F. R. Doc. 88-3912; Filed, December 28, 1938;
of testimony in this proceeding begin on 11:04 a. m.
C. 687, sec. 6, 49 S tat. 814; 15 U. S. C.
TTUa 5 1, J 9t; 687> sec- 7, 49 S tat. 815; 11 Tuesday, January 3, 1939, a t ten oclock fii7? TTS PA , 79g: C- 687> sec. 9- 49 S tat in the forenoon of that day central C Sup. m , 79i; C. 687, sec. 10 standard time, in room 1123 New Post 7 S ta t ? i8 15 u - s - c - Sup. m , 79k; C Office Building, 433 West Van Buren United States of AmericaBefore the Securities and Exchange Commission i n 791 12, 49 S t a t 8231 16 U - S
S u p Street, Chicago, III.
C. 687, sec. 2, 49 S tat. 804; 15 U. S. C
Upon completion of testimony for the At a regular session of the Securities Sup. m , 79b.
Federal Trade Commission, the examiner and Exchange Commission held a t its
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