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NORTH AMERICAN CO. v. S.E.C.

No. 1.

327 U.S. 686 (1946)

NORTH AMERICAN COMPANY v. SECURITIES & EXCHANGE COMMISSION.

Supreme Court of United States.

Decided April 1, 1946.

Attorney(s) appearing for the Case

Charles E. Hughes, Jr. argued the cause and filed a brief for petitioner.

Solicitor General McGrath and Paul A. Freund argued the cause for respondent. With Mr. Freund on the brief were Solicitor General Fahy, John F. Davis, Milton V. Freeman, Roger S. Foster and David K. Kadane.

Arthur A. Ballantine, John F. MacLane, Wilkie Bushby and Joseph Schreiber filed a brief, as amici curiae, in support of petitioner.

MR. JUSTICE MURPHY delivered the opinion of the Court.

Congress enacted the Public Utility Holding Company Act of 1935, 49 Stat. 803, in order to correct grave abuses which it had found in the use of the holding company device in the nation's electric and gas utility industries. This Court in Electric Bond & Share Co. v. Securities & Exchange Commission, 303 U.S. 419, held constitutional the various provisions...

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