Securities and Exchange Commission v. United States Realty & Improvement Company

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Robert H. Jackson, Atty. Gen., and Francis Biddle, Sol. Gen., for petitioner.

[Argument of Counsel from pages 436-438 intentionally omitted]

Messrs. Joseph M. Hartfield and Henry M. Marx, both of New York City, for respondent.

[Argument of Counsel from Pages 439-440 intentionally omitted]

Mr. Justice STONE delivered the opinion of the Court.