for defendants Paul B. Haggarty, Victor J. Tournet, George C. Vrattos.
Robert H. Kreutzer, New York City, for defendant William F. Wiese.
Spengler, Carlson, Gubar & Churchill, New York City, for defendant Rita Anderson.
Balterman & Geist, New York City, for defendant Marcel Clamons.
Butowsky, Schwenke & Devine, New York City, for defendant Thomas C. Kilduff.
*1305 Sidney Eagle, New York City, for defendant Ruth Button.
Flemming & Zulack, New York City, for defendant Frank E. Doggrell, Jr.
Gold, Farrell & Marks, New York City, for defendants R. P. and Eleanor F. Clinton.
Robert S. Groban, New York City, for defendant August Mezzetta.
Hallisey & Goldberg, New York City, for defendant Carl W. Anderson.
Kraft & Hughes, Newark, N. J., for defendants Donald Eucker and John J. Villani.
Manning, Carey, Redmond & Tully, New York City, for defendant JamesS. Shields.
Paul, Weiss, Rifkind, Wharton & Garrison, New York City, for defendant Robert Vesco.
David Rubin, New York City, for defendant Herbert R. Johnson.
Sullivan Donovan, Hanrahan, McGovern & Lane, New York City, for defendant Clifford G. Doerle.

MEMORANDUM OPINION
LASKER, District Judge.
This suit raises novel questions as to the scope of liability of the New York Stock Exchange ("Exchange") under § 6 of the Securities Exchange Act of 1934, 15 U.S.C. § 78f. In June 1970, Orvis Brothers & Co., a member firm of the Exchange, commenced liquidation after a period of financial deterioration. The Exchange brings this action to recover some $5,000,000. expended from its Special Trust Fund to compensate public customers of Orvis for the losses which resulted. Defendants are a varied group including the general and limited partners