Business & Finance: Bond & Share Decision

"Our duty is to save unless in saving we pervert. When all the world can see what sensible legislators in such a contingency would wish that we should do, we are not to close our eyes as judges to what we must perceive as men. This need is all the greater in fields where the Law is in a state of transition and readjustment."

Quoting these sentences of Associate Supreme Court Justice Benjamin Cardozo,

Federal Judge Julian William Mack last week rendered a decision which gave the Securities & Exchange Commission an important preliminary victory in its great test case against Electric Bond...

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