The CHAIRMAN. That is of channel 2? Mr. ANGLAND. Yes, sir. The CHAIRMAN. Let it be received. (The document is as follows:) ADDITIONAL VIEWS OF THE GENERAL COUNSEL I have considerable doubts as to whether the proposal, insofar as it will result in placing Signal Hill temporarily on channel 2 in St. Louis, could withstand a challenge in the courts. If the problem was solely a question of the temporary resting place for the Signal Hill operation in a situation where the public interest required the immediate elimination from the St. Louis area of its existing channel 36, I think the case, though difficult, might be defensible. We would have to face, however, serious contentions that the situation was not analogous to the Peoples or Zenith cases in view of the existence of other unassigned UHF channels in St. Louis, and the fact that, for reasons of minimum separations, Signal Hill will not be able to use its existing transmitter site for a channel 2 operation but will have to build some miles to the west of St. Louis. Similarly, if the problem were solely whether the public interest would better be served by assigning the winner of the Springfield comparative hearing (the conditional grantee) a readily available channel 36, rather than channels 26 or 39, I think a reasonable case could be made out for picking the channel which an appreciable number of people in the area already have tuners for. However, with the necessity for deletion of channel 2 from St. Louis resting solely on the relatively minor advantages of that channel, rather than 26 or 39 being used in Springfield, I am convinced that the real weaknesses in the separate aspects of the case will tend to magnify one another. And while the discretion of the Commission in such matters is undoubtedly great, I would not be surprised if the proposed resolution of the Springfield-St. Louis rulemaking, insofar as it relates to actual assignments on the channels being switched, were held to be an abuse of discretion. WARREN E. BAKER, General Counsel. Mr. ANGLAND. The General Counsel took the position that he has considerable doubt as to whether the proposal so far as a result of placing Signal temporarily on channel 2 in St. Louis could withstand the challenge in the courts. Mr. Tenenbaum, when did you first purchase stock in WDHD? Mr. TENENBAUM. The first stock purchased in-well, the Boston Herald is the name of the company-purchased that March 13. My partner purchased it March 13, 1956, I believe. Is that right? Mr. ANGLAND. 1957 I believe. I hand you herewith a statement prepared by you regarding stock purchases of Peltason, Tenenbaum in the Herald-Traveler Corp. Mr. TENENBAUM. I have it, sir. Mr. ANGLAND. Is that a true copy of all purchases by Peltason, Tenenbaum? Mr. TENENBAUM. This is a true copy as taken from our books, I believe. Mr. ANGLAND. Is that a true copy of all purchases by Peltason, Tenenbaum of stock of WHDH, Inc.? Did you purchase any personally through any other broker? Mr. TENENBAUM. No, sir. Mr. ANGLAND. To your knowledge did anyone associated with Signal Hill purchase any? Mr. TENENBAUM. No, sir. Mr. ANGLAND. Did you hear about this decision on December 19 at the FCC? Mr. TENENBAUM. The first time I know of the Boston Herald was that a published article, which I believe you have in your files, mentioned if I can get it I would like to see it, but what it had to say was this: May I read it? Mr. ANGLAND. Just give us the date. Mr. TENENBAUM. January 21, 1957. Mr. ANGLAND. That is the first you learned of the grant to Boston! Mr. TENENBAUM. Well, it was not a grant. Mr. ANGLAND. Is that the first you learned that they might get the grant? Mr. TENENBAUM. Yes, sir. Mr. ANGLAND. I would like to put in the record the list of stock transactions of Peltason, Tenenbaum in the Boston Herald-Traveler Corp. The CHAIRMAN. Are these instruments stock purchases of the Boston Herald by Mr. Tenenbaum? Mr. TENENBAUM. Those are actual purchases that were handled through our firm, sir. The CHAIRMAN. For identification purposes, what is the name of your firm? Mr. TENENBAUM. Our firm is Peltason, Tenenbaum Co. The CHAIRMAN. Is that a stock company? Mr. TENENBAUM. No, sir; a partnership. The CHAIRMAN. It is not the same as your Signal Hill, is it? The CHAIRMAN. Your partnership bought stock in the Boston Herald as outlined in these two instruments? Mr. TENENBAUM. Correct, sir. Some were bought for customers. The CHAIRMAN. For customers? Mr. TENENBAUM. Yes, sir. The CHAIRMAN. I note all the purchases on this one beginning with April 1957, and on through January 1958, show a total of 5,949. Is that correct? Mr. TENENBAUM. If it says it there, it is correct, sir, although we never-excuse me. The CHAIRMAN. We never what? Mr. TENENBAUM. We never owned, I don't believe, that much for ourselves. Some of it might have been in customers' names. The CHAIRMAN. Could you identify what stock you bought for yourself? Mr. TENENBAUM. Mr. Chairman, if I accepted this as being accurate, would that help? The CHAIRMAN. We just wanted you to identify it. Yes; if that is true. Mr. TENENBAUM. It is true, sir. The CHAIRMAN. Is there some way that you can tell what stock you purchased for yourself and what stock you purchased for your customers? Mr. TENENBAUM. Well, we have the investment account which is purchase for ourselves. The business account is purchase for sale to customers, and in our investment account, to answer your question, sir Mr. ANGLAND. Mr. Tenenbaum, maybe it would clear it up if you answered this question: Did you purchase all of the WHDH stock listed therein in your list there for your inventory? Mr. TENENBAUM. No, sir. Some was purchased for investment account, and it is labeled so. The purchase for inventory is on a separate sheet. I will say that this is a true record. Mr. ANGLAND. Whom did you buy that stock from? Mr. TENENBAUM. We purchased this stock from various over-thecounter brokers. Mr. ANGLAND. Are they listed there? Mr. TENENBAUM. They are listed, sir. Mr. ANGLAND. Did you purchase from any other brokers not listed there? Mr. TENENBAUM. No, sir. Mr. ANGLAND. Did you purchase any stock for anyone that is not listed there? Mr. TENENBAUM. No, sir. The CHAIRMAN. Let them be received for the record since they are identified. (The matter referred to follows:) |