Excerpt from Stock Exchange Practices, Vol. 5: Hearings Before the Committee on Banking and Currency United States Senate, Seventy-Third Congress; First Session on S. Res. 84 (72nd Congress)
Mr. Bisbee. We would tell him that he was violating his agree ment under which this a... rrangement is in effect.
Senator adams. What would you do in the matter of making the transfer?
Mr. Bisbee. I have never been faced with the necessity of deciding that question.
Senator adams. The stockholder has a right to transfer his stock, has he not?
Mr. Bisbee. He is violating his agreement. He has agreed that he will not transfer one without transferring the other.
Senator adams. But conceding that he made that agreement, I am asking you this. Assuming that he violates the agreement, he says to you that, legally as a stockholder of the Chase National Bank I have a right to transfer my certificate of the Chase National Bank. What would you say to him?
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