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COMMITTEE ON GOVERNMENT OPERATIONS
SAM J. ERVIN, JR., North Carolina, Chairman
JOHN L. MCCLELLAN, Arkansas
ABRAHAM RIBICOFF, Connecticut
JAMES B. ALLEN, Alabama
LAWTON CHILES, Florida
SAM NUNN, Georgia
WALTER D. HUDDLESTON, Kentucky
CHARLES H. PERCY, Illinois
ROBERT BLAND SMITH, Jr., Chief Counsel and Staff Director
ELI E. NOBLEMAN, Counsel
W. P. GOODWIN, Jr., Counsel
J. ROBERT VASTINE, Jr., Minority Counsel
SUBCOMMITTEE ON BUDGETING, MANAGEMENT, AND EXPENDITURES
LEE METCALF, Montana, Chairman
Vanik, Hon. Charles A.:
Excerpt from House Report 93-891 concerning declining tax rate of
Machinery and Products Institute response to SEC on tax reform.
Letter from Thomas E. Kauper, Assistant Attorney General, Anti-
Stafford, Hon. George M.:
Notice to carriers to provide for the Interstate Commerce Commission,
Follow-up letter for original letter dated February 14, 1974.
Indebtedness of the 15 largest rail carriers, A-2..
Percent of the 15 largest railroads' debt held by financial institu-
Debt and equity ratios, A-4.
Major shareholders, A-5--
Ten largest motor carriers, schedules of debt and equity:
Indebtedness of 10 largest motor carriers, B-2..
Percent of the 10 largest motor carriers' debt held by financial in-
Major holders of debt of the 10 largest motor carriers, B-4.
Debt and equity ratios, B-5
Major shareholders, B-6..
Ten largest pipelines, schedules of debt and equity:
Indebtedness of the 10 largest pipelines, C-2.
Percent of the 10 largest pipelines' debt held by financial institu-
Debt and equity ratios, C-4_.
Undivided joint interest petroleum pipe line systems, C-6---- 680–682 Directors of large carriers and financial institutions, schedules of affiliations:
Interlocking directorates-large carriers and financial institutions,
Fifteen largest railroads, affiliations of nonofficer directors, D-3--685-691
Chart showing directors of the Penn Central Transportation Co. and their affiliations with banking institutions and other major corporations, as of January 1970--
Table showing major railroads directly controlled by holding companies and date of involvement....
Selected statistics for Class I railroads in the United States indirectly controlled by conglomerate holding companies, years 1972–73_Letter from Alvin E. Toffel, Special Consultant to Norman Simon, to Vic Reinemer, Staff Director, Subcommittee on Budgeting, Management, and Expenditures, dated May 28, 1974, concerning testimony by Mr. McCormick, of ICC Chairman Stafford's staff, in respect to Mr. Toffel's role in the ICC's follow-up to Mr. Simon's complaints about proper disclosure in a recent security offering--Letter to E. Winslow Turner, Chief Counsel, Subcommittee on Budgeting, Management, and Expenditures, Senator Metcalf, Chairman, from Norman Medvin, Senior Consultant, Stanley H. Ruttenberg & Associates, Inc., dated April 24, 1974, responding to invitation for information on joint venture oil pipeline systems__
Exhibit 1.-Notice of proposed rulemaking, Docket No. RM74-17, increasing FPC reporting requirements to include 30 top principal voting stockholders rather than top 10
Exhibit 2.-Holdings of common stock of Carolina Power & Light held and reported by First National City Bank..........
Nassikas, Hon. John N-Continued
Exhibit_3.-Holdings of Carolina Power & Light by First National Page City Bank as reported to FPC.
Exhibit 4.-List of officers and directors authorized to hold interlocking positions in public utilities who also hold positions with investing institutions_
Exhibit 5.-List of banks having a director position interlocked with officer or director positions of public utilities which had short-term borrowings from the banks as of December 31, 1972.
List of banks having a director position interlocked with officer or director positions of public utilities-stock of public utility held by nominees of banks..
Memorandum to Chairman Nassikas, from the Office of General
Memorandum from Morris R. Fitzgerald, Chief, Division of Audits,
Letter to Senator Metcalf from Chairman Nassikas, dated June 12,
Appendix C.-Memorandum to L. H. Drennan, Jr., Chief
Hughes, Hon. Phillip S.:
GAO notice of proposed rulemaking: Clearance of proposals by inde-
Letter to Hon. Dean Burch, Chairman, Federal Communications Commission, from Phillip S. Hughes, Assistant Comptroller General, dated February 12, 1974 concerning certain review functions of the Comptroller General relating to information-gathering activities of independent regulatory agencies
Letter to Hon. Elmer B. Staats, Comptroller General of the United States, from Charles A. Tobin, Secretary, Federal Trade Commission, dated March 15, 1974, in response for comments on the proposed General Accounting Office regulations to implement 44 USC sec. 3512, to review the collection of information by independent Federal regulatory agencies---
Staff Summary of independent regulatory agencies' response to Chairman
Chairman Metcalf's letter to Commissions, dated March 5, 1974..
Atomic Energy Commission__
Civil Aeronautics Board.......
Consumer Product Safety Commission..
Equal Employment Opportunity Commission.
Federal Communications Commission_.
Federal Maritime Commission__
Federal Power Commission__.
Federal Trade Commission__
Interstate Commerce Commission_.
"Bureau of Economics Staff Report,' Federal Trade Commission line of business reporting program_.
Exhibit 1.-Interlocking oil company directors
Exhibit 2.-Leading "insider" stockholders of 14 major oil companies and their holdings...
Statement regarding interlocks by Hon. Bill Gunter, a U.S. Congressman from the State of Florida, from the hearings before the Senate Committee on Interior and Insular Affairs, December 5, and 6, 1973_ _
TEXT OF CORRESPONDENCE BETWEEN CHAIRMAN METCALF AND AGENCY OFFICIALS REGARDING INTERLOCKING DIRECTORSHIPS
Text of letter sent to agencies..
Responses to letter from Chairman Metcalf to agencies:
APPENDIX A-II-INTERLOCKED DIRECTORATES OF 18 OIL COMPANIES
(Excerpted from Interlocking Oil, by Angus McDonald (Albert J. Fritsch, Ph. D., editor), Center for Science in the Public Interest, 1779 Church St. NW., Washington, D.C. 20036) –