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CORPORATE DISCLOSURE

HEARINGS

BEFORE THE

SUBCOMMITTEE ON BUDGETING, MANAGEMENT, AND EXPENDITURES

AND THE

SUBCOMMITTEE ON
INTERGOVERNMENTAL RELATIONS

OF THE

COMMITTEE ON
GOVERNMENT OPERATIONS

UNITED STATES SENATE

NINETY-THIRD CONGRESS

SECOND SESSION

JUNE 25, 27, AND AUGUST 14, 1974

PART 3

Printed for the use of the Committee on Government Operations

ü 1975

U.S. GOVERNMENT PRINTING OFFICE

WASHINGTON : 1974

37-733 O

COMMITTEE ON GOVERNMENT OPERATIONS

SAM J. ERVIN, JR., North Carolina, Chairman JOHN L. MCCLELLAN, Arkansas

CHARLES H. PERCY, Illinois HENRY M. JACKSON, Washington

JACOB K.JAVITS, New York EDMUND S. MUSKIE, Maine

EDWARD J. GURNEY, Florida ABRAHAM RIBICOFF, Connecticut

WILLIAM V. ROTH, JR., Delaware
LEE METCALF, Montana

BILL BROCK, Tennessee
JAMES B. ALLEN, Alabama
LAWTON CHILES, Florida
SAM NUNN, Georgia
WALTER D. HUDDLESTON, Kentucky

ROBERT BLAND SMITH, Jr., Chief Counsel and Staff Director

ELIZABETH A. PREAST, Chief Clerk

ELI E. NOBLEMAN, Counsel

W. P. GOODWIN, Jr., Counsel
J. ROBERT VASTINE, Jr., Minority Counsel
BRIAN CONBOY, Special Counsel for the Minority

W. Thomas FOXWELL, Staff Editor

SUBCOMMITTEE ON BUDGETING, MANAGEMENT, AND EXPENDITURES

LEE METCALF, Montana, Chairman JOHN L. MCCLELLAN, Arkansas

BILL BROCK, Tennessee EDMUND S, MUSKIE, Maine

CHARLES H. PERCY, Illinois SAM NUNN, Georgia

WILLIAM V. ROTH, JR., Delaware
WALTER D. HUDDLESTON, Kentucky

VIC REINEMER, Staff Director
E. WINSLOW TURNER, Chief Counsel
ALAN CHVOTKIN, Professional Staff Member

JACK CHESSON, Counsel
LYLE RYTER, Minority Counsel
JEANNE A. McNAUGHTON, Chief Clerk
PETER INTERMAGGIO, Research Assistant

SUBCOMMITTEE ON INTERGOVERNMENTAL RELATIONS

EDMUND S. MUSKIE, Maine, Chairman SAM J. ERVIN, JR., North Carolina

EDWARD J. GURNEY, Florida LEE METCALF, Montana

WILLIAM V. ROTH, JR., Delaware JOHN L. MCCLELLAN, Arkansas

BILL BROCK, Tennessee
LAWTON CHILES, Florida

ALVIN FROM, Staff Director
GEORGE L, BEAL, Minority Counsel

JANE S. FENDERSON, Counsel
LUCINDA T. DENNIS, Chief Clerk

CONTENTS

JUNE 25, 1974

Wiley, Hon. Richard E., Chairman, Federal Communications Commission,

accompanied by Wallace Johnson, Chief, Broadcast Bureau, and William

White, Common Carrier Bureau..

Bentley, Helen Delich, Chairman, Federal Maritime Commission; ac-

companied by John Ridlon, Office of General Counsel; LeRoy Fuller,

Director, Bureau of Certification and Licensing; and Andrew Weissler,

Deputy Director, Bureau of Industry Economics -

JUNE 27, 1974

Smith, Hon. James E., Comptroller of the Currency; accompanied by Dean

Miller, Deputy Comptroller of the Currency for Trusts --

Solomon, Frederic, Director, Division of Supervision and Regulation,

Federal Reserve Board..

Schwartz, Prof. Donald, and Susan Gross on behalf of Project on Corpo-

rate Responsibility...

AUGUST 14, 1974

Harrington, Hon. Michael J., a Representative in Congress from the State

of Massachusetts...-

Fischer, Norman J., chairman of the board of Medalist Industries, Inc.-

Lybecker, Martin E., adjunct professor of law, Georgetown University Law

Center

ADDITIONAL MATERIAL

Wiley, Hon. Richard E.:

A.T. & T. 1974 Report to FCC (shares of stock, common)--

Table-Extent of Major Bank Holdings of Voting Stock in Com-

munications Holding Companies -
Tables:

“30 Stockholders Having Greatest Voting Power," ITT, as of

February 22, 1974.

Staff Summary of ITT ownership-

Report Submitted by FCC:

Preliminary Summary:

American Telephone and Telegraph.--

Continental Telephone Corp---,

General Telephone and Electronics Corp-

RCA Corp.---

United Telecommunications, Inc..

Western Union Corp----

Bentley, Helen Delich:

Tables:

Information concerning Matson Navigation Company by Schedule

Number...

Letter to Senator Metcalf from Helen Delich Bentley, Chairman,

Federal Maritime Commission, July 10, 1974, regarding extent of

Federal Maritime Commission regulation on U.S.-flag shipping----

Prepared statement..

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