Stock Exchange Practices

Whilst the greatest effort has been made to ensure the quality of this text, due to the historical nature of this content, in some rare cases there may be minor issues with legibility. Mr. Pecora. Do you know that the readjustment was of a nature that led to the declaration of the dividend by the Trust Co. In pursuance of the original suggestion of the group, despite the fact that the officers of the Trust Co. Pointed out that such dividend was not justified by the earnings? Mr. Kanzler. I would not have known it, Mr. Pecora, except that I have been here and heard the testimony, and have heard that it had been done. Mr. Pecora. Then, you were not aware of this correspondence that passed between the officers of the Trust Co. And the president of the group in June 1930? Mr. Kanzler. I do not recall whether I was or was not, but I have heard it now.