LEVENTHAL, Circuit Judge:
The Cities of Lafayette and Plaquemine, Louisiana, ("Cities") seek review of two orders of the Securities and Exchange Commission entered in the course of an acquisition proceeding under section 10(b) (1) of the Public Utility Holding Company Act of 1935, 15 U. S.C. § 79j(b)(1). We postponed disposition pending guidance from the Supreme Court in its review of our opinion in City of Lafayette v. SEC & FPC, 147 U.S.App.D.C. 98,
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