v2950-191

No. 14901

Untteb Stated

Court of appeals

for tfje JBtmtf) Circuit

JOHN PIERCE,

Petitioner,

vs.

SECURITIES AND EXCHANGE COMMIS-

SION,

Respondent.

transcript of Eecorb

In Two Volumes

Volume I

(Pages 1 to 248)

Petition to Review an Order of the

Securities and Exchange Commission

8 - ^ ...- ^ i^w s~s ff^*-~-~^^^

Phillips & Van Orden Co., 870 Brannan Street, Son Francisco, Calif. -4-27-56

MAY .-? 1956

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