Evening star., 1933-10-17

SuDpOen2S SuSseSteu.
Redmond said Pecora could obtain
the information he seeks by serving the
individual members with subpoenas,
which the Exchange counsel termed
1.-THE recognized method"
In his notification to Pecora, Whitney
said fundamental objection" to the
proposed QUESTIONABLE was that 1t
would produce inaccurate and incom-
plete results"
II am advised that similar question
naires have been sent to a number
of stock exchanges throughout the
country" Whitney said. Many MEM
bers of the New York Stock Exchange
are also members of these exchanges.
There was therefore a serious dan
ger Of duplication which would have
destroyed the true and accurate value
of any statistics sought in this man
ner."
In making public his reply to Pecora
and the Redmond opinion, Whitney also
made available the text OF Pecora'S
QUESTIONABLE as follows:
Pecora's QUESTIONABLE.
A. Give the following data for Oc-
tober l, 1929, and July l, 1888:
l. Number of members of New York
Stock Exchange.
2. A-Number of members acting ex-
clusively as traders for their own ac-
count. giving names and addresses.
R-Number of members acting ex-
clusively as floor brokers, giving names
and addresses.
C-Number of members acting in the
capacity of both individual traders and
floor brokers, giving names and ad-
dresses
D-Number of members who are in
vestment bankers who do not maintain
regular representation on the floor OF
the exchange, giving names and ad-
dresses.
E-Number of members who engage
exclusively in commission brokerage
business, giving names and addresses.
F-Number of member houses who
in addition to acting as brokers have
also participated in security offerings,
and in pools, syndicates or joint ac
counts, giving names and addresses.
Odd Lot Handlers.
G-Names of all member houses en-
gagged exclusively in handling odd lot
transactions
B. Obtain from each member and
member firm the following data for the
year 1929 and for the year 1888 up to
September l:
A-Number Of customers (persons
partnerships and/or corporations) who
bought or sold any securities, excluding
bonds, debentures and notes, separately
tabulating the number of customers
buying or selling securities on margin
or credit accounts, and the number of
buying or selling securities for cash.
B-The number of customers (per-
sons, partnerships and or corporations)
who purchased or sold bonds, debentures
and notes. separately tabulating the
number of customers buying or selling
on margin or credit accounts, and the
number buying or selling for cash.
In tabulating the information under
(A) and (B) give number of customers
residing IN the city of New York and
those residing outside of the city of
New York
Odd Lot Sales.
c. Obtain from all odd lot houses
the number of shares bought and the
number of shares sold by them during
the period April /, 1888, to July 81,
1888, inclusive
D. Obtain from all individual floor
traders statement of the total num-
Der of shares bought and the total
number OF shares sold by them on the
Exchange during the period April /,
1888, to July 81, 1888, inclusive.
E. Obtain from each member or
member firm the following data:
/. The total number of margin ac-
counts on their books as of July 81,
1929; July 81. 1890; July 81, 1881; July
80, 1892. and July Is, 1893.
2. The total debit balances in such
marginal accounts as of July 81. 1929;
July 81. 1890; July 81. 1881; July 80,
1882, and July Is. 1933
F. Obtain from each member and
member firm a statement showing
whether member firm or any agent act
ing for such firm, or any partner there
Of, participated in the profit and /or
losses resulting from the exercise of any
options to purchase securities during
the years 1929 to 1888 inclusive In
reply to this question furnish the name
of each member and his answer for
each year for this period.
Pool Operations.
G. Obtain from each member or
member firm the following data for the
years 1929 to 1888, inclusive. furnish
ing the name of each member and his
answer for each year during this
period.
/. A statement showing whether
member firm or any agent acting for
such firm or any partner thereof par
ticipated in the profits and/or losses, or
In any distribution of securities in any
syndicate, pool. and/or joint account,
giving the nature of the account -
whether syndicate, pool, or joint &C.
count.
2 A statement showing whether any
iOint cVndicQta nr Y,OO1 onpO11ptS uera
maintained on the book of such men,
ber or member firm in which such
member or member firm had no pro-
prietary interest, giving nature of the
account-whether syndicate, pool, or
joint account.
H. Obtain from each member or
member firm the following data for
the years 1929 to 1888, inclusive fur
nishing the name of each member and
his answer for each year during this
period:
/. A statement showing whether
member or member firm has purchased
any securities for resale.
2. Whether member or member firm
has underwritten or participated in the
underwriting and /or distribution of
any securities.
8. Whether member or member firm
is member of/or associated with
any investment trust.
Segregation of Capital.
I. l. Obtain from each member or
member firm who engaged in broker
age business and securities selling
and/or syndicate, pool, or joint ac-
count operations, statement showing
whether segregation or ALLEGATION of
capital and of accounts for each de-
partment was maintained during the
years 1929 to 1888, inclusive. In re-
plying to this question furnish name
Of each member and his answer for
each year for this period.
2. Where answer from member OF
member firm to the previous question
is in the affirmative, give date, in
each case, when such segregation took
effect. Submit details of plan. stating
if in emergencies. capital funds may
be switched back and forth between
the departments