v3482-397

No. 22487 / ./irn r. . A/K/^n

MAR 2^.1969

IN THE

UNITED STATES COURT OF APPEALS

FOR THE NINTH CIRCUIT

ROBERT W. NEES,

Petitioner,

vs.

SECURITIES AND EXCHANGE

COMMISSION,

Respondent.

On Petition For Review of an Order of the

Securities and Exchange Commission

PETITIONER'S REPLY BRIEF

r V L- iu- ^-'

SANDER L. JOHNSON and

HAROLD B. BERNSON

1800 Avenue of the Stars

Suite 415

Los Angeles, California 90067

277-1120

Attorneys for Petitioner

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