Responsibilities of Corporation Directors

  • By:Charles E. Noyes
  • Content Type: Report
  • Publisher: CQ Press
    • Publication year: 1939
    • Online pub date:
  • DOI: https://doi.org/10.4135/cqresrre1939041000

Archive Report

Note

The right to reproduce material contained in Editorial Research Reports is strictly reserved to the newspaper clients of the service. Verbatim use of such material by others will be permitted only upon written authorization of the editor.

Richard M. Boeckel, Editor.

Inactive and Working Directors

On March 22, the Securities and Exchange Commission published its findings and opinion in the matter of Interstate Hosiery Mills, Inc. The Commission severely criticized the management of the company for failure to discover serious falsifications in the accountants' records which were used by the directors in their annual reports to stockholders. This case has again emphasized the dangers of perfunctory action by corporation directors which were extensively discussed in connection with the McKesson and Robbins scandal last autumn.

In previous years the ...

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