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PUBLIC SERVICE COM'N v. SECURITIES AND EXCHANGE COM'N

No. 179, Docket 20892.

166 F.2d 784 (1948)

PUBLIC SERVICE COMMISSION OF NEW YORK et al. v. SECURITIES AND EXCHANGE COMMISSION.

Circuit Court of Appeals, Second Circuit.

March 5, 1948.

Attorney(s) appearing for the Case

Raymond J. McVeigh, of New York City, Sherman C. Ward, of Albany, N.Y. (Frank C. Bowers, of New York City, and George Kenny, and Richard Llope, both of Albany, N.Y. of counsel), for Public Service Commission.

Samuel A. Hirshowitz, of New York City, Nathaniel L. Goldstein, Atty. Gen., of State of New York, (Wendell P. Brown, Sol. Gen. of Albany, N.Y., of counsel), for Secretary of State.

Roger S. Foster, of Philadelphia, Pa., Sidney H. Willner, Associate Sol., Harry G. Slater, Chief Counsel, Public Utilities Division, and Solomon Freedman, and Alfred Hill, Attys., Securities and Exchange Commission, all of Washington 25, D. C., for Securities & Exchange Commission.

Milton Pollack and Unger & Pollack, all of New York City, for committee of preferred shareholders of Long Island Lighting Co.

Before L. HAND, AUGUSTUS N. HAND, and CLARK, Circuit Judges.

L. HAND, Circuit Judge.

This is an appeal from an order under § 11(e) of the Public Utility Holding Company Act of 1935, 15 U.S.C.A. § 79k(e), which approved a plan of reorganization of the Kings County Lighting Company, an intrastate operating public utility corporation, substantially all of whose common stock was owned by the Long Island Lighting Company, a "registered holding company" under the Act. Only two questions are at issue: (1) Whether the consent...

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