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1* The Commission will insist that a cijodk. and exsnination of the
bank1* record®, as well as tUoso of the corporation itself must be
laada by the Conflission9* o#n personnel*

If w voluntarily 1st the Corinission into the bask and the corpora­
tion, the Comission will adhere to tie sane standards as If' they
took the subpoena routef in oilier words, there would be no general
fishing expedition and the Osesalsslea would specify as to.each item
wanted ami its relevancy* Thors would be no examination of the
general flies of eorrespondence* On the oilier hand, the omiasion
could supplement its list of required data from iinse to tlias,


The Cosoission tulnka It has an unquestioned right to subpoena the
bankfs records* They are perfectly willing to tect this question
in the courts.


If we let then into the lank ansi ti:e corporation, th© Camission
thinks it would be preferable ior its nen to f;o into the lank and
tli© corporation iwedlately and not ait until after the amen&aent
has been prepared*

6* Xho Ca m s sion cannot anil will not c&xalt Itself at this line as
to whether or not it will go on with a public Learin> Even thouji
there would be full disclosure in the asumdiaent, there taay be other
reasons of public interest that sd lit require the tomission to o
on with the public hearin •
0* Any infor.setion the Conraistion acquired in the investigation mi ht
be uso^, in th© public lajarin,;, if tie hearing is bold*
?* If the subpoena route is taken, the €amiss ion will start issuing
its subpoenas on January 10*