Disclosure of Corporate Ownership.

Format:

Book

Government document

Author/Creator:

Library of Congress. Congressional Research Service.

Language:

English

Subjects (All):

United States. Federal Maritime Commission.

United States.

United States. Federal Power Commission.

United States. Interstate Commerce Commission.

Physical Description:

1 online resource (431 pages) : digital, PDF file

monochrome

Place of Publication:

[Place of publication not identified] : [publisher not identified], 1973.

System Details:

System requirements: PDF reader software.

text file

PDF

Summary:

Analyzes responses from several hundred corporations to inquiry from Sen. Lee Metcalf (D-Mont) requesting companies' 30 top stockholders and amounts of such holdings, from company reports to Federal regulatory commissions, and financial references in the LC.

Describes role of institutional investors in stock market and in corporate management, and corporate reporting requirements of six Federal regulatory agencies regarding stock ownership, control, diversification, debts, and officers. Analysis of this data shows deficiency in such requirements, allowing companies to report "nominees" or "street names" which represent the stock in lieu of stock owners' names. These findings are discussed also in terms of the domination of the largest corporations by six banks, a brokerage firm, and Cede and Company, nominee of the Stock Clearing Corporation, owned by the New York Stock Exchange.

Introduction (pages 1-12) defines study parameters, summary of data and its significance, and summaries of each report part. Other contents:

Report dealing with identity of principal stockholders of major corporations, prepared for the Subcom on Budgeting, Management, and Expenditures and the Subcom on Intergovernmental Relations, by CRS and subcom consultants.

Reports within volume include recommendations for alternative legislation and administrative reforms regarding disclosure requirements and readjustment of corporate decisionmaking power. Includes tables throughout.

Notes:

CRS Report.

Record is based on bibliographic data in ProQuest U.S. Congressional Research Digital Collection (last viewed June 2010). Reuse except for individual research requires license from ProQuest, LLC.

Other Format:

Microfiche version: Library of Congress. Congressional Research Service. Disclosure of Corporate Ownership. 74-S402-1

Access Restriction:

Restricted for use by site license.