Stock Clearing Corp.

National Labor Relations Board - Board Decisions

May 19, 1942

41 N.L.R.B. 108 (N.L.R.B. 1942)

In the " Matter of STOCK CLEARING CORPORATION and AMERICAN
FEDERATION OF OFFICE EMPLOYEES , LOCAL 20940, A. F. L.
Case No. R 3779.-Decided May 19,4942
Jurisdiction : securities and money transactions clearing and settling business.
Investigation and Certification of Representatives : existence of question: re-
fusal of Company to accord union recognition until certified by the Board ;
election necessary.
Unit Appropriate for Collective Bargaining : all employees, excluding executive
and supervisory- employees.
Mr. William T. Little, for the Board.
Mr. John Dassau, of New York City, for the Company.
Mr. Sidney M. Feidelberg and M71r. Edward K. Flaherty, of New
York City, for the Union.
Mr. Louis Cokin, of counsel to the Board.
DECISION
AND
DIRECTION OF ELECTION
STATEMENT OF THE CASE
Upon petition duly filed by American Federation of Office Em-
ployees, Local 20940, AFL, herein called the Union, alleging that
a question affecting commerce had arisen concerning the representa-
tion of employes' of Stock Clearing Corporation, New York City,
herein called the Company, the National Labor Relations Board pro-
vided for an appropriate hearing upon due notice before Henry J.
Kent, Trial Examiner. Said hearing was held at New York City on
April 28, 1942. The-Board, the Company, and the Union appeared
and participated.) All parties were afforded full opportunity to be
heard, to examine and cross-examine witnesses, and to introduce
evidence bearing on the issues. The Trial Examiner's rulings made
at the hearing are free from prejudicial error and are hereby affirmed.
Upon the entire record in the case, the Board makes the following:
FINDINGS OF' FACT
1. THE BUSINESS OF THE COMPANY
Stock Clearing Corporation is a New York corporation and wholly
owned subsidiary of New York Stock Exchange. The Company
I Bank and Brokerage Employees Union, C. I. 0, was notified of the hearing in this
proceeding, appeared, but stated that it did not wish to intervene.
41 N. L R B., No. 22.
108
STOCK CLEARING CORPORATION - 109
clears and settles securities and money transactions at New York City
for member firms and members of the New York Stock Exchange.
During-1941-the Company settled bonds valued at $1,032,000,000. , Dur-
ing- the.-same period the' value of the balance of 'cleared stocks
amounted to $2,842,000,000.
IL THE ORGANIZATION INVOLVED
American Federation of Office Employees, Local 209404 is ` a labor
organization affiliated with the American Federation of Labor, ad-
mitting,to membership employee's of the Company.
,III. THE QUESTION CONCERNING REPRESENTATION,
- During February 1942 the Union requested the Company to rec-
ognize it as exclusive representative of the Company's, employees.
The Company denied this request until such time as the Union, is
certified by the Board. A statement of the Regional Director, intro-
duced into evidence during the hearing, shows that the Union repre-
sents a substantial number of employees in the unit hereinafter
found to be appropriate .2
We find that a question affecting commerce has -arisen concerning
the representation of employees of the Company, within-the meaning
of Section,9 (c) and Section 2 (6) and (7) of the National Labor
Relations Act. .
a 11E APPROPRIATE UNIT, • •
The Union urges' that all employees of the` Company, excluding
executive and supervisory employees, constitute' an appropriate unit.
The Company took no position with respect to the unit.
We find that all employees of the Company, ' excluding executive
and supervisory employees, constitute a unit appropriate for the
purposes of collective bargaining, within the meaning of Section 9 (b)
of the -Acts:
V. THE DETERMINATION OF REPRESENTATIVES
We shall direct that the question concerning representation which
has arisen be resolved by an election by secret ballot among the
employees in the appropriate unit who were employed during the
pay-roll period immediately preceding the date of the Direction of
2 The Regional Director reported that the Union presented 51 membership application
cards bearing apparently genuine signatures of persons whose names appear on the
Company ' s pay roll of March 5 , 1942 There are approximately 174 employees in the
unit hereinafter found to be appropriate.
110 DECISIONS OF NATIONAL LABOR RELATIONS BOARD
Election herein, subject to the limitations and additions set forth in
the Direction.
The Union requests that it appear on the ballot as "American Fed-
eration of Office Employees, Local 20940, AFL." The request is
hereby granted.
DIRECTION OF ELECTION
By virtue of and pursuant to the power vested in the National
Labor Relations Board by Section 9 (c) of the National Labor
Relations Act, and pursuant to Article III, Section 8, of National
Labor Relations Board Rules and Regulations-Series 2, as amended,
it is hereby
DIRECTED that, as part of the investigation to ascertain representa-
tives for the purposes of collective bargaining with Stock Clearing
Corporation, New York City, an election by secret ballot shall be
conducted as. early as possible, but not later than thirty (30) days
from the date of this Direction, under the direction and supervision
of the Regional Director for the Second Region, acting in this matter
as agent for the National Labor Relations Board and subject to
Article III, Section 9, of said Rules and Regulations, among the
employees in the unit found appropriate in Section IV above, who
were employed during the pay-roll period immediately preceding the
date of this Direction, including any such employees who did not
work during said pay-roll period because they were ill or on vacation
or in the active military service or training of the United States,
or temporarily laid off, but excluding any who have since quit or
been discharged for cause, to determine whether or not they desire
to be represented by American Federation of Office Employees, Local
20940, AFL, for the purposes of collective bargaining.