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F E D E R A L R E G I S T E R , Tuesday, August 8> 1939

3535

protest In accordance with the Commis sions Rules of Practice and Regulations.
seal J. B. W illiam son , Acting Secretary.

Act of 1934 that the registration of -Enoch Victor Farnick, doing business as Kellogg Brokerage Company, be and the same hereby is suspended until further order.
F R. Doc. 39-2877; Filed, August 5, 1939;
By the Commission.
9:34 a. m.j
we adopt the Trial Examiners findings, and find further that revocation of the registration of Lando-Host & Company is in the public interest.
I t is therefore ordered, Pursuant to Section 15 b of the Securities Exchange Act of 1934 that the registration of seal
F rancis P. B rassor, Lando-Host & Company be, and it is Secretary.
hereby, revoked.
F. R. Doc. 39-2880; Filed, August 5, 1939;
By the Commission.
SECURITIES AND EXCHANGE COM
11:00 a. m.
seal
F rancis P. B rassor, MISSION.
Secretary.
United States of America Before the Securities and Exchange Commission United States of America Before the F. R. Doc. 39-2878; Filed, August 5, 1939;
10:59 a. m.
Securities and Exchange Commission At a regular session of the Securities and Exchange Commission, held at its A t a regular session of the Securities office in the City of Washington, D. C., and Exchange Commission, held at its United States of America Before the Securities and Exchange Commission on the 2nd day of August, A. D. 1939.
office in the City of Washington, D. C., on the 2nd day of August, A.
D.
1939.
At a regular session of the Securities I n the M atter op E noch V ictor F arnick , D oing B usiness as K ellogg B rokerage I n the M atter of L ando-H ost & C om and Exchange Commission, held at its Company , K ellogg, I daho pa ny 611 N orth B roadway , M il w a u office in the City of Washington, D. C., on the 2nd day of August, A. D. 1939.
kee , W isconsin MEMORANDUM OPINION AND ORDER
SUSPENDING REGISTRATION

This is a proceeding pursuant to Sec tion 15 b of the Securities Exchange Act of 1934 to determine whether the registration.as a broker and dealer of Enoch Victor Farnick, doing business as Kellogg Brokerage Company, should be revoked or suspended.
At the hearing held pursuant to the Commissions order at Seattle, Washing ton, the registrant failed to appear per sonally or by counsel. Notice of the hear ing1 was sent to registrant by registered mail, but was not received by him because of his removal from the address which he had given the Commission. There after, the order and notice of the hear ing were published in the F ederal R eg ister for February 14, 1939, in the man ner prescribed by the Federal Register Act.
The Trial Examiner filed an advisory report in which he found that the regis trant has violated the provisions of Rule X-15B-2, adopted by the Commission pursuant to Sections 15 b , 17 a , and 23 a of the Securities Exchange Act of 1934, as amended, in failing to inform the Commission of changes in his busi ness and residence addresses, as alleged in the Commissions order of February 11, 1939. On an independent review of the record, we adopt the Trial Examiners findings, and find further that the vio lation of Rule X-15B-2 was wilful and that it is in the public interest to revoke or suspend registration.
Because notice was not received by Farnick, we will not order revocation of his registration. Instead, we order that Farmcks registration be suspended pend ing determination of whether his regis tration should be revoked, which matter will be determined when Farnick comes
memorandum opinio n and order revoking REGISTRATION

In
the M atter of M in e S ales, I n c ., 1356
B ase L in e S treet, S an B ernardino, California
This is a proceeding pursuant to Sec MEMORANDUM OPINIO N AND ORDER
tion 15 b of the Securities Exchange REVOKING REGISTRATION
Act of 1934. to determine whether the registration as a broker and dealer of This is a proceeding pursuant to Sec Lando-Host & Company, a corporation, tion 15 b of the Securities Exchange should be revoked or suspended.
Act of 1934 to determine whether the After appropriate notice, a hearing was registration as a broker and dealer of held before a trial examiner on April 25, Mine Sales, Inc., a corporation, should be 1939, at Chicago, Illinois. The registrant revoked or suspended.
was represented at the hearing by C a rl After appropriate notice, a hearing was Penner, who is assignee for the benefit held on April 25, 1939, at Los Angeles, of the registrants creditors. The Trial California. The registrant was repre Examiner filed an advisory report in sented at the hearing by Chester D. Gibbs, which he found 1 that the registrant, who is its president, treasurer, a director while transacting a business in securities and its principal stockholder. The Trial through the medium of a member of a Examiner filed an advisory report in national securities exchange during the which he found, inter alia, that Chester period from January 1,1938, to December D. Gibbs is permanently enjoined by de 31, 1938, wilfully violated the provisions cree of the Supreme Court of the State of Section 8 b of the Securities Ex of New York, for the County of Onon change Act of 1934, as amended, in that daga, entered on July 21, 1927, from the registrant permitted, in the ordinary sale within the State of New York of any course of business as a broker, its aggre securities of the Andes Copper Company, gate indebtedness to all other persons, said injunction having been issued after including customers credit balances ex personal service of a copy of the com cluding indebtedness secured by exempted plaint in that proceeding upon Gibbs, and securities, to exceed 2,000 per centum after a hearing on the matter; that regis of the net capital employed in the afore trant and Chester D. Gibbs wilfully said business exclusive of fixed assets stated in the Companys application for employed in the.business; 2 that in registration as a broker and dealer that a supplemental statement to its applica- 1none of its officers or directors were per tion for registration registrant wilfully manently or temporarily enjoined by any made a statement which was, at the time court from engaging in any conduct or and in the light of the circumstances practice in connection with the purchase under which it was made, false and mis or sale of a security, whereas in truth leading with respect to a material fact, and in fact, as shown above, an injunc in that registrant stated that it pur tion against the sale of Andes Copper chased securities for customers on mar Company stock was and is outstanding gin through members of national securi against Chester D. Gibbs; that the regis ties exchanges in exceptional and iso trant and Chester D. Gibbs, in a supple lated cases , when in fact registrant mental statement to the Companys ap regularly purchased securities for cus plication for registration, had wilfully him heard or notice is received by tomers on margin through members of made statements which were false and national securities exchanges, all as al misleading with respect to material facts, I t is therefore ordered, Pursuant to leged in the order of the Commission in that it was stated that the registrants Section 15 b of the Securities Exchange dated April 4, 1939. No exceptions were predecessor, Gibbs & Company, had sold taken to the Trial Examiners report. securities for the Consolidated Silver 14 FJR. 893 DI.
On an independent review of the record, Mountain Mines Co., Clio-Vindicator