City of Lafayette, Louisiana, and City of Plaquemine, Louisiana v. Securities and Exchange Commission, Middle South Utilities, Inc., Intervenor

LEVENTHAL, Circuit Judge:

The Cities of Lafayette and Plaque-mine, Louisiana, (“Cities”) seek review of two orders of the Securities and Exchange Commission entered in the course of an acquisition proceeding under section 10(b)(1) of the Public Utility Holding Company Act of 1935, 15 U. S.C. § 79j(b)(l). We postponed disposition pending -guidance from the Supreme Court in its review- of our opinion in City of Lafayette v. SEC & FPC, 147 U.S.App.D.C. 98, 454 F.2d 941 (1971). The Supreme Court’s opinion appears under the name Gulf States Utilities Co. v. FPC, 411 U.S. 747, 93 S.Ct. 1870, 36…