An Act to amend sections 212, 219 (a), 221 (a), and 410 (a) of the Communications Act of 1934, as amended.
PL 84-914 (S.1456), enacted 08/02/1956

70 S T A T . ] 
PUBLIC LAW 914-AUG. 2, 1956 
931 
Public Law 914 
CHAPTER 874 
AN ACT 
To amend sections 212, 219 (a), 221 (a), and 410 (a) of the Communications 
Act of 1934, as amended. 
August 2, 1956 
[S. 1456] 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled^ That section 212 
of the Communications Act of 1934, as amended, is amended to read 
as follows: 
"SEC. 212. After sixty days from the enactment of this Act it shall 
be unlawful for any person to hold the position of officer or director 
of more than one carrier subject to this Act, unless such holding 
shall have bsen authorized by order of the Commission, upon due 
showing in form and manner prescribed by the Commission, that 
neither public nor private interests will be adversely affected thereby: 
Provided^ That the Commission may authorize persons to hold the 
position of officer or director in more than one such carrier, without 
regard to the requirements of this section, where it has found that 
one of the two or more carriers directly or indirectly owns more than 
60 per centum of the stock of the other or others, or that 50 per centum 
or more of the stock of all such carriers is directly or indirectly owned 
by the same person. After this section takes effect it shall be unlaw-
ful for any officer or director of any carrier subject to this Act to 
receive for his own benefit directly or indirectly, any money or thing 
of value in respect of negotiation, hypothecation, or sale of any 
securities issued or to be issued by such carrier, or to share in any of 
the proceeds thereof, or to participate in the making or paying of any 
dividends of such carriers from any funds properly included in 
capital account." 
SEC. 2. Section 219 (a) of the Communications Act of 1934, as 
amended, is amended by inserting at the beginning of the second sen-
tence of subsection (a) the words Except as otherwise required by the 
Commission," so that such section 219 (a) will read: 
"SEC. 219. (a) The Commission is authorized to require annual re-
ports under oath from all carriers subject to this Act, and from per-
sons directly or indirectly controlling or controlled by, or under direct 
or indirect common control with, any such carrier, to prescribe the 
manner in which such reports shall be made, and to require from 
such persons specific answers to all questions upon which the Com-
mission may need information. 
Except as otherwise required by the 
Commission, such annual reports shall show in detail the amount of 
capital stock issued, the amount and privileges of each class of stock, 
the amounts paid therefor, and the manner of payment for the same; 
the dividends paid and the surplus fund, if any; the number of stock-
holders (and the names of the thirty largest holders of each class of 
stock and the amount held by each); the funded and floating debts 
and the interest paid thereon; the cost and value of the carrier's 
property, franchises, and equipment; the number of employees and 
the salaries paid each class; the names of all officers and directors, 
and the amount of salary, bonus, and all other compensation paid to 
each; the amounts expended for improvements each year, how ex-
pended, and the character of such improvements; the earnings and 
receipts from each branch of business and from all sources; the oper-
ating and other expenses; the balances of profit and loss; and a com-
plete exhibit of the financial operations of the carrier each year, in-
cluding an annual balance sheet. 
Such reports shall also contain 
such information in relation to charges or regulations concerning 
charges, or agreements, arrangements, or contracts affecting the same, 
as the Commission may require." 
C o mmunl c ati on s 
Act of 1934,amend-
ments. 
48 Stat. 1074. 
47 u s e 212. 
Interlocking d i -
rectorates. 
Officials dealing 
in securities. 
48 Stat. 1077. 
47 u s e 219. 
Reports b y easy 
riers. 
932 
PUBLIC LAW 915-AUG. 2, 1956 
[70 ST A T . 
48 Stat. 1080 
47 u s e 221. 
Telephone c o m-
panles. 
Consolidation. 
66 Stat. 722. 
47 u s e 410. 
Joint boards. 
66 Stat. 721. 
47 u s e 409. 
60 Stat. 244. 
5 u s e 1010. 
SEC. 3. Section 221 (a) of the Communications Act of 1934, as 
amended, is amended to read as follows: 
"SEC. 221. (a) Upon application of one or more telephone com-
panies for authority to consolidate their properties or a part thereof 
into a single company, or for authority for one or more such com-
panies to acquire the whole or any part of the property of another 
telephone company or other telephone companies or the control there-
of by the purchase of securities or by lease or in any other like manner, 
when such consolidated company would be subject to this Act, the 
Commission shall give reasonable notice in writing to the governor of 
each of the States in which the physical property affected, or any 
part thereof, is situated, and to the State commission having jurisdic-
tion over telephone companies, and to such other persons as it may 
deem advisable, and shall afford such parties a reasonable opportunity 
to submit comments on the proposal. 
A public hearing shall be held 
in all cases where a request therefor is made by a telephone company, 
an association of telephone companies, a State commission, or local 
governmental authority. 
If the Commission finds that the proposed 
consolidation, acquisition, or control will be of advantage to the per-
sons to whom service is to be rendered and in the public interest, it 
shall certify to that effect; and thereupon any Act or Acts of Congress 
making the proposed transaction unlawful shall not apply. 
Nothing 
in this subsection shall be construed as in anywise limiting or restrict-
ing the powers of the several States to control and regulate telephone 
companies." 
SEC. 4. Section 410 (a) of the Communications Act of 1934, as 
amended, is amended by inserting before the words "the Commission" 
in the second sentence of the section the words "an examiner provided 
for in section 11 of the Administrative Procedure Act, designated by" 
so that such section 410 (a) will read as follows: 
"SEC. 410. (a) Except as provided in section 409, the Commission 
may refer any matter arising in the administration of this Act to a 
joint board to be composed of a member, or of an equal number of 
members, as determined by the Commission, from each of the States in 
which the wire or radio communication affected by or involved in the 
proceeding takes place or is proposed. For purposes of acting upon 
such matter any such board shall have all the jurisdiction and powers 
conferred by law upon an examiner provided for in section 11 of the 
Administrative Procedure Act, designated by the Commission, and 
shall be subject to the same duties and obligations. The action of a 
joint board shall have such force and effect and its proceedings shall 
be conducted in such manner as the Commission shall by regulations 
prescribe. The joint board member or members for each State shall 
be nominated by the State commission of the State or by the Governor 
if there is no State commission, and appointed by the Federal Com-
munications Commission. The Commission shall have discretion to 
reject any nominee. Joint board members shall receive such allow-
ances for expenses as the Commission shall provide." 
Approved August 2, .1956. 
August 2, 1956 
[S. J. Res. 105] 
Public Law 915 
CHAPTER 875 
JOINT RESOLUTION 
Authorizing the President of the United States to designate the period beginning 
September 17 and ending September 23 of each year as Constitution Week. 
Resolved hy the Senate and House of Representatives 
of the United 
wJik."**^*"*^**" Stcit^s of America in Congress assembled, That the President of the 
Designation. 
United States is authorized and requested to designate the period