PEOPLES SECURITIES CO. v. SECURITIES AND EXCHANGE CO.

No. 18300.

289 F.2d 268 (1961)

PEOPLES SECURITIES COMPANY, L. B. Hartgrove, Sr., Robert Macy Compton, Clifford Bryant Renegar, and Union Trust Company, Petitioners, v. SECURITIES AND EXCHANGE COMMISSION, Respondent.

United States Court of Appeals Fifth Circuit.

April 20, 1961.


Attorney(s) appearing for the Case

Jack Binion, Houston, Tex., Butler, Binion, Rice & Cook, Houston, Tex., of counsel, for petitioners.

Joseph B. Levin, Asst. Gen. Counsel, Thomas G. Meeker, Gen. Counsel, S. E. C., Washington, D. C., Walter P. North, Associate General Counsel, Meyer Eisenberg, Attorney, Securities and Exchange Commission, Washington, D. C., for respondent.

Before RIVES, BROWN and WISDOM, Circuit Judges.


WISDOM, Circuit Judge.

The sole question on this appeal is whether the Securities and Exchange Commission acted properly in denying an applicant's motion for withdrawal of its application for registration as a broker-dealer and for dismissal of the administrative proceeding on the application. The case turns on statutory construction and the applicability of Jones v. Securities and Exchange Commission, 1936,

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