Matter of Engineers Public Service Company. Securities and Exchange Commission v. Guggenheimer & Untermyer, Louis Boehm, and Raymond L. Wise

I am in accord with the view of the majority that the District Court had correctly held that the Commission erred in denying compensation to the appellees. I disagree, however, with the majority’s holding that “ * * * it was within the power of the court below to determine the amounts of compensation to be paid to the appellees and to require such payments to be made from the estate of Engineers.”

In my opinion the District Court was limited to a consideration of the single issue as to whether there was substantial evidence to support the Commission’s finding that the appellees could not…