Cover title. "In the matter of Senate Bill 3895 ... a bill 'To prevent the use of the mails and of the telegraph and the telephone, in futherance of fraudulent and harmful transactions on stock exchanges.'"--P.  "Brief" signed: John G. Milburn, Walter F. Taylor, of counsel for the New York Stock Exchange. "Replying brief" signed: John G. Milburn. The reply brief is an answer to the argument and brief of Mr. Untermyer. Reproduction of original from Harvard Law School Library.