Legal Document

353 U.S. 368 77 Supreme Court Reporter 855 1 United States Reports Lawyer’s Edition 2d Series KF101.8 U54 897 SECURITIES AND EXCHANGE COMMISSION, Petitioner,v.LOUISIANA PUBLIC SERVICE Middle South Utilities, Inc., andLouisiana Power and Light Company. Number 466. Argued April 30 May 1, 1957. Decided 13, Rehearing Denied June 17, See 354 928, 1375. Mr. Thomas G. Meeker, Washington, D.C., for the petitioner. Robert Atlantic Ainsworth, Jr., New Orleans, La., respondent, Louisiana Public Service Commission. Judge Raburn Monroe, PER CURIAM. On January 29, 1953, Securities Exchange Commission, pursuant to § 11(b)(1) of Utility Holding Company Act 1935, 49 Statutes-at-Large 820, 15 Code KF62 79k(b)(1), Annotated KF65 U5 issued a notice order hearing directed its subsidiary, & Company, upon matter '(w)hether (Power) should be required take action dispose gas utility assets non-utility and, if so, what terms conditions imposed in connection therewith.' A copy that was served those companies also Commission by registered mail. 2 full conducted S.E.C. at which appeared, adduced evidence, presented arguments support their position they permitted retain Power's properties as an additional integrated public system under proviso Act. The did not appear proceeding. March 20, opinion, findings directing divest themselves all non-electric 'in any appropriate manner contravention applicable provisions Act,' gave them one year compliance 11(c) Act, 821, 79k(c), 79k(c). No petition review ever filed, it ceased subject judicial with expiration 60 days allowed purpose 24(a) 834, 79x(a), on 19, 1953. 3 Thereafter, extended time 1955. November 10, 1954, newly organized wholly owned Gas Corp., filed joint 'application-declaration' S.E.C., proposing transfer step divestment expressing intention effect common stock within 18 months from date latter might begin operations. Thereupon, advising interested persons, including filing mentioned, request proposal. By telegram December 22, requested grant reopen proceeding had resulted 27, formal accordingly, supplemented 3, Also, suggestion submitted offer proof brief indicate change since but, rather, complained evidence been incomplete acted, part, erroneous conception law. heard oral argument Commission's reopen. September 1955, found there were 'no grounds questioning . (its) earlier conclusion no changed circumstances justifying modification' denied 4 then Appeals denying reopen, therein stated sought moved dismiss ground judicially reviewable essence attempt appeal long after law do so expired. held reviewable, set aside order. It legal determinations made erroneous, it, effect, too. 235 Federal Reporter, 2nd 167. We granted certiorari. 352 924, 223, 160. 5 rested last two sentences 11(b) 79k(b), reading: 'The may revoke or modify previously this subsection, if, opportunity hearing, finds predicated exist. Any subsection shall provided section 79x title.' 'order' specifically quoted language. 6 different view. hold orders language are directory mentioned in, authorized by, (b) 11 'revoke modify' such does include merely s proceedings. follows review, judgment must accordingly reversed. 7 is ordered. 8 Reversed. 9 Justice CLARK took part consideration decision case.

Classification Label: 7