SUBCOMMITTEE ON FINANCIAL INSTITUTIONS
COMMITTEE ON BANKING AND CURRENCY
UNITED STATES SENATE
S. 3678 and H.R. 15073
BILLS TO AMEND THE FEDERAL DEPOSIT INSURANCE ACT
TO REQUIRE INSURED BANKS TO MAINTAIN CERTAIN REC-
ORDS, TO REQUIRE THAT CERTAIN TRANSACTIONS IN UNITED
STATES CURRENCY BE REPORTED TO THE DEPARTMENT OF
THE TREASURY, AND FOR OTHER PURPOSES
COMMITTEE ON BANKING AND CURRENCY
JOHN SPARKMAN, Alabama, Chairman
WILLIAM PROXMIRE, Wisconsin
EDWARD W. BROOKE, Massachusetts
HARRISON A. WILLIAMS, JR., New Jersey JOHN G. TOWER, Texas
THOMAS J. MCINTYRE, New Hampshire
CHARLES H. PERCY, Illinois
CHARLES E. GOODELL, New York
WALTER F. MONDALE, Minnesota
ERNEST F. HOLLINGS, South Carolina
HAROLD HUGHES, Iowa
ALAN CRANSTON, California
ROBERT W. PACKWOOD, Oregon
DUDLEY L. O'NEAL, Jr., Staff Director and General Counsel
JOHN R. EVANS, Minority Staff Director
SUBCOMMITTEE ON FINANCIAL INSTITUTIONS
WILLIAM PROXMIRE, Wisconsin, Chairman
HARRISON A. WILLIAMS, JR., New Jersey EDWARD W. BROOKE, Massachusetts
THOMAS J. MCINTYRE, New Hampshire
WALTER F. MONDALE, Minnesota
CHARLES H. PERCY, Illinois.
CHARLES E. GOODELL, New York
KENNETH A. MCLEAN, Professional Staff Member
CHRONOLOGICAL LIST OF WITNESSES
MONDAY, JUNE 8
Will Wilson, Assistant Attorney General, Department of Justice,
accompanied by Whitney North Seymour, Jr., U.S. Attorney, Southern
District of New York, and Robert Rosthal, Deputy Chief, Government
Operations Section, Criminal Division....
Hamer H. Budge, Chairman, Securities and Exchange Commission,
accompanied by Irving M. Pollack, Director, Division of Trading and
Markets; Stanley Sporkin, Associate Director (Enforcement), Division
of Trading and Markets; Philip A. Loomis, Jr., general counsel, and
Ira H. Pearce, special counsel__
Eugene T. Rossides, Assistant Secretary for Enforcement and Operations,
Department of the Treasury, accompanied by Robert Cole,
Special Assistant for International Tax Affairs; William L. Dickey,
Deputy Assistant Secretary; Bernard Mehan, Special Assistant, Compli-
ance Staff, Internal Revenue Bureau; and Robert Rostahl, Deputy Chief,
Government Operations Section, Department of Justice.
Carl W. Desch, senior vice president, First National City Bank, accom-
panied by Roy Haberkern, partner, Millbank, Tweed, Hadley & McCloy,
New York City; and John F. Lee, executive vice president, New York
Clearing House Association_.
C. Coleman McGehee, president, First & Merchants National Bank,
Richmond, Va., accompanied by William Boyd, Jr., senior vice president
and manager, international banking, Pittsburgh National Bank, Pitts-
burgh, Pa__
ALPHABETICAL LIST OF WITNESSES
Boyd, William Jr., senior vice president and manager, international bank-
ing, Pittsburgh National Bank..
Budge, Hamer H., Chairman, Securities and Exchange Commission
Calvin, Donald L., vice president, New York Stock Exchange_
Sporkin, Stanley, Associate Director, Enforcement, Division of Trading
and Markets, Securities and Exchange Commission.
Wilson, Frank J., vice president and associate counsel, National Association
of Securities Dealers..
Wilson, Robert W., Robert W. Wilson Investments, New York.
Wilson, Will, Assistant Attorney General, Department of Justice_
ADDITIONAL STATEMENTS AND DATA SUBMITTED FOR
Metz, Robert, reprint of articles by, in the New York Times..
National League for Privacy in Bank Accounts, letter to Senate Banking
International transactions (table).
Robert W. Haack, president, statement of....
Supplemental memorandum__
Pittsburgh National Bank, Pittsburgh, Pa., statement of William Boyd,
Jr., senior vice president..
Riseley, Jerry B., chairman, National League for Privacy in Bank Accounts,
letter to Senate Banking Committee_-
Robert W. Wilson Investments:
Reprint of article from Businessweek magazine.
Comparative financial statement-50 percent net long position with
maximum gross positions (table) _-.
Reprint of articles from the New York Times:
Short Selling-Ban Is Urged___
Wilson, Robert W.:
To the Defense of Short Selling-.
S. 3678, reprint of, with suggested amendments submitted by the New
York Clearing House---
Budge, Hamer H., Chairman, prepared statement_-.
Investment company holdings of the Fund of Funds, Ltd. (table)___
Management company holdings of the Fund of Funds, Ltd. (table)_.
Reprint of advertisement from the Wall Street Journal_.
Testimony before the House Banking and Currency Committee:
Bath Industries_.
Combined holdings, FOF Prop. Funds, Ltd., ITT Fund, Fond-
italia, IOS Venture Fund of Canada, IOS International Ven-
tures Fund, and Regents Fund (table).
Seymour, Whitney North, Jr., prepared statement----
Summers v. Surety Savings and Loan Association, opinion, Court of Appeals,
State of California__
|