Page:United States Statutes at Large Volume 49 Part 1.djvu/88

74TH C ONGRESS . SESS. I. CHS. 29.31. MARC H 7,1,5,1935 . which may have been constructed and account therefor : Provided, That all disposition of materials, property, buildings, and so forth, shall be at public sale to the highest bidder and the proceeds thereof shall be covered into the Treasury of the United States . SEC . 9. It shall be the duty of the Commission to transmit to Congress, within six months after the close of the exposition, a detailed statement of all expenditures, and such other reports as may be d eemed proper, whi ch reports shall be prepared and arranged with a v iew to concise st atement and conv enient reference . Approved, March 7, 1935 . [ CHAP TER 31 .1 J OINT R ESOLU TION Authorizing and directing the Federal Communications Commission to investi- ga te and report on the American Telephone and Telegraph Comp any and on all ot her companies engag ed directly or indi rectly in telephone communication in interstate commerce, including all companies related to any of these companies through a holding compa ny str uctur e, or other wise . Resolved by the Senate and House o f Representatives o f the United States of America in Congress assembled, That it is necessary, in aid of legislation by the Congress an d for the use of governmental agen cies, including S tate regulatory commissions, for the informa- tion of the general public, as an aid in providing more effective rate regulation, and for other purposes in the public interest, that accu- rate and comprehensive information be procured and compiled regarding the American Telephone and Telegraph Company and other telephone companies . SEC . 2 . The Federal Communications Commission is hereby author- ized and directed to investigate and report to the Con gress on the foll owing matters wit h respect to the American Telepho ne and Tele- graph Company and all other companies engaged directly or indi- rectly in telephone communication in interstate commerce, including all of their s ubsidiary, affiliated, associated, and holding companies, and any other companies in which any of them have any direct or indirect financial interest, or which have any such interest in them, or in which any of their officers or directors hold any office or exert any control, o r whose officers or directors hold any office or exert any control in them- (a) The corporate and financial history, and the capital structure and the relationship of such company and of its subsidiary . affiliated, a ssoci ated , an d ho lding com pani es, i nclu ding the dete rmin atio n of whether or not such structure may enable them to evade State or Federal regulation or taxation, or to conceal, pyramid, or absorb profits, or to do any other act contrary to the public interest . (b) The extent and character of intercompany service contracts and all transactions between the telephone companies and their sub- sidiaries, affiliated, associated, or holding companies, and particu- larly between the American Telephone and Telegraph Company and the Western Electric Company and othe r manufacturers o f electrical communication eq uip me nt ; t he method s of publi shing tele phone d irect orie s an d pl acing and cha rging for adv erti sing ther ein ; the cost of and sale prices of telephone equipment, material, or devices to telephone operating companies or users ; the profits upon such sale s and the effect of such sales up on the rates or u pon the rate base of operating companies when used asa basis for telephone charges in the various States or in interstate commerce ; and the probable savings to telephone operating companies and the public by p urchasing equipme nt under a syste m of competitive bidding . 43 Proviso. By auctio n sales . Report to Congress. March 15, 1935. [S.1 . Res . 46.1 [Pub . Res., No. 8.] American Telephone and Telegraph Co m- pany, etc. Necessity for exam- ination, etc ., declared . Federal Communi- cations Commission di- rected to investigate and report to Congress . Subsidi aries, hol ding companies, etc., in- cluded . History, structure, in- terrelationships, etc . Service c ontra cts, transactions, etc. Wi th Western Ele c- tr ic Comp any . Equipment, etc ., prices .