The Waterbury Democrat., 1936-07-02

CoHueQ J- 1S HAISaUy Akk 4u4k
 The case Is that of Boeton- Montana Mines, and threatens Co result an O Supreme Court test of tho constltutlonallty of tho se- curtles Act.
 The Issue is whether Q firm, wishing Co sell stocks and bonds to the public, can register with the SEQ, and then having registered, withdraw It's case after tho SEC discovers grounds for charging fraud. ty
 Sec on the Spot
 This goes ono step further than the ]. Edward Jones test, In which the Supreme Court decided against the SEC. Jones wanted to with- draw his registration before he had sold stock to the public.
 But in Che BostOnsM Montana Mines case, stocks actually had beOn sold before the SEQ found an alleged Modification and Issued Q step order against fur- ther saIes. The SEC has now threatened to turn the case over to the Justice Department while Boston. Montana Mines threatens to take lt up to tho Supreme Court.
 The case is the most important ono involving the SEC that has come up SO far. For if Q firm can register 0 statement and then, when challenged withdraw with- out fear of prosecution, then regis. tering will become just Q good natured game of tag.
 COP. Brain Trust
 whether Landon wins or not, at least ono Republican Brain Trus- ter has Q four-year job, 1fo is Ralph P. Ward, tempted away from tho Brookings Institution by the handsome g. Q. salary offer. v
 Other Republican Brain Trust- CTS have been retained only for the duration of tho campaign. All will return to their respective colleges in the fall except Pro. fessors Thomas Nixon Carver and Charles Bullock, who are retired. Supreme Court Suffers
 During all the hullabaloo of the National Conventions, the Nine Old Gentlemen who have provided more campaign material than almost anyone eNo settled down to peaceful summer yaca- tions.
 All but one of the supreme court justices have ieft Washing ton. The exception is Justice McReynolds, who Is still in his apartment on Sixteenth street.
 Furthest from Washington lA
 Justice Sutherland, who board-
 cd Q steamer shortly after court adjourned for Q pilgrim
 aee Co hls native land. This will
 be the 25th trip Sutherland has
 made to England. He will also visit other European countries.
 The Chief Justice and Mrs. Hughes are motoring about tho country--a favorlte pastilnc. They like to go wherever the whim dictates, and when last heard from were in New England. A chauffeur pilots their car.
 Thran T.aharaIs
 The three liberal members of the court all are relaxing ct their country homes in the same gen. eral area. Justice Brandeis is on his farm at Chatham, Mass, where he has suEnFnered for years, Further north, off tho Maine coast, is Justice Stone'E summer place on the Isle au Haut, where Stone delights in putterlng around the house, moving the lava and doing odd jobs. Mrs. Stone spends most of the summer painting.
 Justice Cardoza has Q summer place at Rye, N. F.. within coFi- muting distance. of the pavements of New York which he loves, and for which he is actually homesick when he is too far away.
 Justice Roberts was nearest to the Philadelphia. convention and the denunclatlon which the
 Court received at the hands of democratic orators. He owns Q
 farm at Valley FOrgc-ln fact, six small farms which he has
 merged--alshough he leases it to Q farming corporation, and gets a great kick out of being around
 to do eslil j0bs himself.
 Justice Van Devnnter also is spending tie summer on Q farm, that of his son in nearby Mary land. Justice Butler is at Blue Ridge Summit, Penn, a mountain resort only two hours drive from Washington, where the Japanese ambassador and various diplomats usually spend their summers. Butler is an inveterate golfer. Summer Work
 Although they are all vacation ing, actually one justice is cOnr stantly available for any emer- gency signature Of court orders to stay executions, grant injunctions, etc.
 Furthermore, all of them re- ceive ct their summer homes copies of briefs filed on eases 0EsFs sT,aaEs nrrnnn