33 Eastland, Oliver, assistant and chief investigator, Special Subcom- mittee on Legislative Oversight...... Gadsby, Edward N., Chairman, Securities and Exchange Commis- Loomis, Philip A., Director, Division of Trading and Exchanges, Securities and Exchange Commission... McCauley, Daniel J., Jr., Associate General Counsel, Securities and Paperman, Mildred, treasurer, Boston Port Development Co.. Porter, William A., attorney for Bernard Goldfine... Robb, Roger, attorney for Bernard Goldfine... Sargent, James C., Commissioner, Securities and Exchange Sears, Samuel P., attorney for Bernard Goldfine. Woodside, Byron D., Director, Division of Corporate rities and Exchange Commission. Excerpt from subcommittee meeting of January 27, 1958. Federal Communications Commission, letter from John C. Doerfer, Adoption of summary prospectus rule and amendments to forms S-1 and S-9, press release of November 26, 1956 (No. 3722)__ Additional information submitted for the record-Continued Report for May 1956. 4721 Report for June 1956. 4725 Examiner's report on Crowell-Collier Publishing Co., October 6, 4717 "Why Bernard Goldfine Should Be Cited for Contempt," extension of remarks of Hon. Oren Harris, August 13, 1958.. 4610 INVESTIGATION OF REGULATORY COMMISSIONS AND AGENCIES TUESDAY, JULY 15, 1958 HOUSE OF REPRESENTATIVES, SPECIAL SUBCOMMITTEE ON LEGISLATIVE OVERSIGHT OF THE COMMITTEE ON INTERSTATE AND FOREIGN COMMERCE, Washington, D.C. The special subcommittee met, pursuant to recess, at 10 a.m. in the caucus room, Old House Office Building, Hon. Oren Harris (chairman of the subcommittee) presiding. Present: Representatives Harris, Williams, Mack, Flynt, Moss, Hale, Bennett, Wolverton. Also present: Robert W. Lishman, counsel to the subcommittee; Stuart C. Ross, committee consultant; Francis X. McLaughlin, subcommittee attorney; and Herman C. Beasley, subcommittee clerk. The CHAIRMAN. The committee will come to order. When the committee adjourned on Friday, July 11, I had just concluded with some questions of Mr. Goldfine. The committee adjourned to meet this morning, at which time Mr. Goldfine was directed to return for further interrogation. Mr. Goldfine is here to resume the hearing this morning. There are two matters that I understand were requested of the chair to clear up. One is, Mr. Sears, I understand you have some statement that you wish to make. TESTIMONY OF BERNARD GOLDFINE, CHESTNUT HILL, MASS,; ACCOMPANIED BY MILDRED PAPERMAN, TREASURER, BOSTON PORT DEVELOPMENT CO., BOSTON, MASS.; ROGER ROBB AND WILLIAM A. PORTER, ATTORNEYS AT LAW, WASHINGTON, D.C.; SAMUEL P. SEARS AND LAWRENCE R. COHEN, ATTORNEYS AT LAW, BOSTON, MASS. Mr. SEARS. Yes, Your Honor. The CHAIRMAN. The other matter that was held in reserve and abeyance was raised by Mr. Moss. After you make your statement we will endeavor to try to clear up the other matter. Mr. SEARS. May it please the committee, the subcommittee at the close of the hearings on July 11, 1958, asked Mr. Goldfine to reconsider his refusal to answer certain questions propounded to him by counsel and by members of the subcommittee. He has done so. Since Mr. Goldfine declined to answer these questions on the advice of counsel, and, in view of the fact that the issue is primarily legal |