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nominal power while preventing its effective exercise. The statute establishes its own category. The question in this court is whether the legislature had power to establish it. The existence of this power, as the authorities we have cited abundantly demonstrate, is not to be denied simply because some innocent articles or transactions may be found within the prescribed class. The inquiry must be whether, considering the end in view, the statute passes the bounds of reason and assumes the character of a merely arbitrary fiat.”

Tested by these considerations, the regulation of transactions off the exchanges, being necessary and proper to assure the maintenance of a fair and honest market. are clearly constitutional.

RESOLUTION PASSED BY CLEVELAND COMMITTEE, ON FLETCHER-RAYBURN Bill,

FEBRUARY 23, 1934 Resolved, That it is the considered opinion of the undersigned committee, appointed at a meeting of Cleveland business interests for the discussion of the proposed Fletcher-Rayburn bill purporting to regulate the activities of stock exchanges, but also containing many ill-considered and very drastic provisions for the regulation of industry itself, that the enactment of such legislation would directly so injuriously affect industry under the guise of stock exchange regulation that it would be very detrimental to industry as a whole, to the recovery of business, and to the reemployment of normal working forces; further

Resolved, That a committee of not less than three members authorized to speak for Cleveland industry be sent to Washington to protest vigorously against the enactment of this bill.

COMMITTEE ON THE FLETCHER-RAYBURN BILL

George M. Humphrey, chaiman, president, M. A. Hanna Co., 12,000 employees.
J. 0. Eaton, chairman, Eaton Manufaturing Co., 4,962 employees.
E. B. Greene, president, Cleveland-Cliffs Iron Co., 4,000 employees.
J. E. Rogers, president, Addressograph Multigraph Corporation, 3,200 em-

ployees.
Adrian D. Joyce, president, The Glidden Co., 5,100 employees.
Elton Hoyt, ii, Pickands-Mather & Co., 5,000 employees.
Fred A. Chapin, president, National Acme Co., 2,140 employees.
Hiram S. Rivitz, president, Industrial Rayon Corporation, 3,400 employees.
Myron A. Wick, Republic Steel Corporation, 25,000 employees.

The undersigned endorses the foregoing resolution: The Aetna Rubber Co., president, 500 employees. S. T. Campbell. The Akron Rubber Reclaiming Co., J. B. Huber, president, 120 employees. Allen Industries, Inc., S. J. Allen, president, 500 employees. The American Fork' & Hoe Co., A. W. Ferguson, secretary-treasurer, 2,000

employees. American Ship Building Co., W. H. Gerhauser, president, 1,500 employees. The Apex Electrical Manufacturing Co., Geo. W. Kelsey, treasurer, 2,000 em

ployees. The Atlas Bolt & Screw, and the Atlas Car & Manufacturing, S. D. Wright,

president, 400 employees. The Austin Co., G. A. Bryant, Jr., vice president, 1,000 employees. The Bamberger-Reinthal Co., S. Reinthal, secretary-treasurer, 350 employees. The Bassett Co., L. B. Bassett, president, 18 employees. The Bender Body Co., H. Bender, president, 500 employees. The Brown Fence & Wire Co., M. B. Sackheim, treasurer, 275–350 employees. The Bryant Heater Co., E. P. Bailey, Jr., secretary, 50-125 employees. The Byers Machine Co., C. J. Fulweber, assistant secretary and treasurer, 75

employees. The Canfield Oil Co., J. A. Jackson, treasurer, 508 employees. The Champion Rivet Co., W. J. Reiley, secretary-treasurer, 150 employees. The Chandler & Price Co., D. W. Frackelton, vice president, 250 employees. Chicago Pneumatic Tool Co., W. S. Callan, vice president, 450 employees. The City Ice & Fuel Co., H. W. Dunkle, secretary, 3,500 employees. The Cleveland Automatic Machine Co., A. L. Patrick, treasurer, 500 employees. The Cleveland & Buffalo Transit Co., P. J. Swartz, general manager, 600

employees. Cleveland City Forge Co., Ralph M. Coe, president, 250 employees.

The Cleveland Cooperative Stove Co., James Mitchell, vice president, 450

employees. Cleveland Graphite Bronz Co., J. L. Myers, secretary, 1,200 employees. The Cleveland Hardware & Forging Co., Thomas R. Robbins, president, 400

employees. Cleveland Pneumatic Tool Co., L. W. Greve, president, 300 employees. The Cleveland Quarries Co., H. M. Caldwell, president, 800 employees. The Cleveland Îractor Co., H. J. Leisenheimer, vice president, 470 employees. The Cleveland Twist Drill Co., Jacob D. Cox, Jr., president, 650 employees. The Cleveland Window Glass & Door Co., W. K. Palmer, president, 200-300 em

ployees. The Cleveland Wire Spring Co., J. W. Campbell, president and treasurer, 200

ees.

employees. The Collinwood Shale Brick & Supply Co., H. C. Moatz, president, 75 employees. Columbia Axle Co., E. H. Parkhurst, president, 175 employees. The Corrigan, McKinney Steel Co., Donald B. Gillies, president, 3,400 em

ployees. The Cricible Steel Casting Co., M. G. Tielke, vice president, 150 employees. The Cuyahoga Foundry Co., James V. Proshek, president, 90 employees. The Eberhard Manufacturing Co., 650 employees. The William Edwards Co., Charles A. Otis, president, 428 employees. The Elwell-Parker Electric Co., M. S. Towson, president, 350 employees. The Enamel Products Co., Joseph Foster, treasurer, 200 employees. The Fanner Manufacturing Co., J. R. Raible, president, 400 employees. The Faultless Rubber Co., W. H. Balch, vice president, 460 employees. Ferro Enamel Corporation, R. A. Weaver, president, 125 employees. The Firestone Tire & Rubber Co., J. J. Shea, treasurer, 24,855 employees. The Forst City Foundries Co., W. L. Seelbach, treasurer, 462 employees. The Fostoria Pressed Steel Corporation, C. D. Pifer, president, 85 employees. The Geometric Stamping Co., L. W. Benjamin: secretary-treasurer, 250 emplorThe H. C. Godman Co., F. A. Miller, president, 2,500 employees. The Grasselli Chemical Co., E. W. Furst, vice president, 4,100 employees. Great Lakes Aircraft Corporation, Chas. F. Barndt, president, 150-200 employThe Grief Bros. Cooperage Co., H. E. Coyle, president. The Guarantee Specialty Manufacturing. Co., R. H. Wright, president, 90 em

ployees. The Halle Bros. Co., Jay Iglauer, vice president and treasurer, 2,000 employees. The M. A. Hanna Co., G. M. Humphrey, president, 12,000 employees. The Wm. M. Hardie Co., Otto Grossenbacher, secretary-treasurer, 700 employees. Harris-Seybold Potter Co., N. L. Daney, treasurer, 534 employees. The Harshaw Chemical Co., W. A. Harshaw, president, 450-500 employees. The E. F. Hauserman Co., R. A. Hauserman, vice esident, 225 employees. The Hertner Electric Co., J. H. Hertner, president, 40 employees. The Higbee Co., Asa Shiverick, president, 2,000 employees. The Hill Clutch Machine & Foundry Co., M. G. Firestone, treasurer, 150 erd

ployees. The Hende & Dauch Paper Co., Sidney Frohman, president, 2,365 employees. The Joseph & Feiss Co., Paul L. Feiss, president, 1,800 employees. The Kaynee Co., E. C. Seitz, vice president and treasurer, 950 employees. The Keller Knitting Co., W. A. Keller, president, 75 employees. The Kelly Island Lime & Transport Co., George J. Whelan, president, 1,000

employees. The $. Korach Co., Arthur Korach, secretary, 250 employees. The Lake City Malleable Co., J. H. Redhead, president, 200 employees. The Master Products Co., C. J. Walters, president, 65 employees. Medusa Portland Cement Co., J. B. John, president, 1,500 employees. Arthur G. McKee Co., H. E. Widdel, vice president, 600 employees. Mohawk Rubber Co., C. Borland, president, 650 employees. The Murray Ohio Mfg. Co., C. W. Hannon, president, 340 employees. The F. E. Myers & Bro. Co., J. C. Myers, president, 528 employees. National Malleable & Steel Castings Co., Henry' F. Pope, president, 6,200

employees. The National Screw & Mfg. Co., H. G. Alexander, president, 1,291 employees. The National Smelting Co., W. W. Weil, treasurer, 300 employees. The National Tool Co., 0. G. Simmons, president, 250 employees.

ees.

The National Tile Co., Chas. B. Lansing, president, 800 employees.
The Newton Steel Co., Donald B. Gillies, president, 2,400 employees.
The Ohio Brass Co., Wm. A. Springer, treasurer. 1,200 employees.
The Ohio Chemical & Manufacturing Co., Allan Russell

, treasurer, 185 employees.
The Ohio Confection Co., Fred S. Borton, president, 100 employees.
The Ohio Crankshaft Co., W. C. Dunn, president, 300 employees.
The Ohio Electric Co., C. Whittier, secretary-treasurer, 145 employees.
The Ohio Foundry Co., W. H. Smith, president, 500 employees.
The Oster Manufacturing Co., Roger Tewksberry, vice president, 150 employees.
The Otis Steel Co., E. J. Kulas, president, 6,000 employees.
The Packer Corporation, Gardner Abbott, secretary, 100 employees.
The Park Drop Forge Co., T. L. Ball, president, 226 employees.
The Parker Appliance Co., A. L. Parker, president, 87 employees.
The Patterson-Sargent Co., R. N. Hotchkiss, secretary-treasurer, 600 employees.
Perfection Stove Co., L. S. Chadwick, president, 1,500 employees.
Pickands Mather & Co., Elton Hoyt, 2d, 5,000 employees.
The Radiart Corporation, L. K. Wildberg, vice president, 200 employees.
Reliance Electric & Engineering Co., Clarence L. Collens, president, 200 em-

ployees. The Republic Stamping & Enameling Co., H. C. Milligan, president and treas.

urer, 600 employees. Republic Steel Corporation, Myron A. Wick, vice president, 25,000 employees. River Raisin Paper Co., G. H. Wood, president, 900 employees. Robbins & Myers, Inc., W. S. Quinlan, president, 800 employees. The Royal Brass Mfg. Co., S. J. Regan, president, 140 employees. The Gustav Schaefer Co., Ernest Schaefer, secretary, 75 employees. The Sheriff Street Market & Storage Co., E. O'Malley, secretary, 45 employees. The W. W. Sly Mfg. Co., S. Vessey, president, 350 employees. The Smallwood Stone Co., S. S. Allan, president, 30 employees. A. G. Spaulding & Bros., J. W. Curtiss, chairman board, 4,000 employees. The Standard Oil Co. (Ohio), W. T. Holliday, president, 5,000 employees. The Standard Textile Products Co., J. T. Broadbent, president, 2,500 employees. The Stouffer Corporation and subsidiary, Vernon Stouffer, president, 700 em

ployees. The Teachout Co., David W. Teachout, president, 75 employees. The Telling-Belle Vernon Co., Harrison Hunter, treasurer, 925 employees. The Theurer Norton Provision Co., W. B. Smith, 350 employees. Thompson Products, Inc., F. C. Crawford, president, 1,800 employees. Truscon Steel Co., J. Kahn, president, 700 employees. United Screw & Bolt Corporation, Carl L. Kramer, vice president, 425 employees. The Vlchek Tool Co., E. C. Koster, vice president, 275 employees. The Warner & Swasey Co., I. C. Bolton, treasurer, 500 employees. The Weather Head Co., Albert J. Weatherhead, Jr., president, 580 employees. The Wellman Engineering Co., C. C. Clayton, secretary, 450 employees. Western Reserve Investing Corporation, Ralph S. Schmidt, treasurer, no em

ployees. The West Steel Casting Co., R. H. West, president, 250 employees. Westinghouse Electric & Manufacturing Co., C. G. Schluederberg, manager,

1,000 employees.
The White Motor Co., A. G. Beane, president, 5,150 employees.
Williams Tool Co., Roger Tewksberry, president, 60 employees.
The Yoder Co., Carl M. Yoder, president, 250 employees.

Х

43381-34-00

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