June 5, 1970

Illus

Haack and Saul disclose plans to merge key NYSE and ASE service and computer operations in central facilities; say program will provide improved operational and data-processing resources for investors, members, listed cos, exchs and related indus; paperwork backlog noted as factor; speculation that merger areas could open way for complete merge noted; operations which will be given priority listed

Investigation Comr Ruskin announces that Police Dept has brought charges against Manhattan Patrolmen T McPartland and T Ryngala, Sgt N Hanson and Lt H Kelley after person arrested on robbery charge was allegedly released in return for $90 bribe; says charges against McPartland and Ryngala involve bribery and perjury; charges against Hanson are that he discussed with defendant reimbursement of sum of money to victim and payment of sum of money to himself, and that he failed to order proper investigation of case; charge against Kelley is that he failed to make proper entries on police blotter about incident

R D DeNunzio, head of task force of reprs from all indus sectors, informs Budge that private ins corp will be established to protect investors against losses in event of brokerage-house failures; Budge earlier told HR subcom that investors 'urgently' need protection against losses; called for ind nonprofit corp to provide funds for prompt payment to brokerage firms pub customers, noting number of brokerage-firm failures since mid-'68; warned that NYSE special ins fund could be rapidly exhausted; task force conclusions appear to be closely in line with Budge's; DeNunzio says private corp will insure investors up to certain limit, which has not yet been agreed upon, int; says some Fed funding would be involved, in addition to some $50-million to be supplied by brokerage indus: proposals reptdly will probably necessitate revisions in Fed Bankruptcy Act

Minn U Regents' Profs hand Vice Pres Agnew lr addressed to Nixon voicing concern that large numbers of sober Amer youths are being radicalized by war and domestic frictions associated with it, Washington conf