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OKIN v. SECURITIES AND EXCHANGE COMMISSION

145 F.2d 913 (1944)

OKIN v. SECURITIES AND EXCHANGE COMMISSION.

Circuit Court of Appeals, Second Circuit.

December 1, 1944.

Attorney(s) appearing for the Case

Samuel Okin, of New York City, pro se, petitioner.

Morton E. Yohalem, Public Utilities Division, Securities and Exchange Commission, of Philadelphia, Pa. (Roger S. Foster, Sol., and Alfred Hill, Atty., Securities and Exchange Commission, both of Philadelphia, Pa., on the brief), for respondent.

Daniel James, of New York City (Wright, Gordon, Zachry, Parlin & Cahill, of New York City, on the brief), for Electric Power & Light Corporation.

Before SWAN and CLARK, Circuit Judges.

CLARK, Circuit Judge.

The order of the Commission for which review is sought authorizes Electric Power & Light Corporation to use its funds to the extent of $6,316,700 for the purchase of preferred stock of Mississippi Power & Light Company — its subsidiary whose common stock it wholly owns — subject, however, to the condition that it convert all preferred stock so acquired into Mississippi common stock within four months. This order is one of...

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