v3360-931

IN THE UNITED STATES COURT OF APPEALS

FOR THE NINTH CIRCUIT

No. 20,228

GREAT WESTERN LAND & DEVELOPMENT, INC., ARIZONA

SYNDICATIONS, INC., AMERICAN TRUST CO., INC

NEVE ALLEN LAND & INVESTMENT, INC., MOHAVE "

INVESTMENT COMPANY, INC., ALLEN NEVE ENTERPRISES

INC., PYRAMID LAND, INC., TOLTEC LAND CORPORATION

WAYNE H. ALLEN and E. J. NEVE, *

Appellants,

SECURITIES AND EXCHANGE COMMISSION,

Appellee.

Appeal from the United States District Court

for the District of Arizona

BRIEF OF SECURITIES AND EXCHANGE COMMISSION, APPELLEE

FILED

SEP 28 1965

PHILIP A. LOOMIS, JR.

General Counsel

WALTER P. NORTH

Associate General Counsel

ELLWOOD L. ENGLANDER

Assistant General Counsel

DANIEL J. GOLDBERG

Attorney

Securities find Exchange Commission

FRANK H. SCHMID,. CLERK Washington, D.C. 20549

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