Silver, Doing Business as Municipal Securities Co., et al. v. New York Stock Exchange

Decided May 20, 1963. Arthur Joseph Goldberg delivered the opinion of the Court.

Docket 150 · 373 U.S. 341 (1963) · Cited 619 times

We don’t yet publish a summary of this opinion — read the official text below for the Court’s holding and reasoning.

How the Justices voted

Decided 7–2.

“Concurring” means agreeing with the outcome; any split shown is the Court’s judgment, not each Justice’s reasoning. Source: the Supreme Court Database (Spaeth et al.), Washington University.

Precedents cited

Supreme Court decisions this opinion relies on, ordered by how often it cites each. Cases in our collection link through; others are named.

• Fashion Originators' Guild of America, Inc. v. Federal Trade Commission · 312 U.S. 457 (1941)
• Georgia v. Pennsylvania Railroad · 324 U.S. 439 (1945)
• United States v. Borden Co. · 308 U.S. 188 (1939)
• Maryland & Virginia Milk Producers Assn., Inc. v. United States · 362 U.S. 458 (1960)
• Associated Press v. United States · 326 U.S. 1 (1945)
• Radiant Burners, Inc. v. Peoples Gas Light & Coke Co. · 364 U.S. 656 (1961)
• United States v. Terminal Railroad Assn. of St. Louis · 224 U.S. 383 (1912)
• Cafeteria & Restaurant Workers Union, Local 473 v. McElroy · 367 U.S. 886 (1961)
• Bigelow v. RKO Radio Pictures, Inc. · 327 U.S. 251 (1946)
• Vitarelli v. Seaton · 359 U.S. 535 (1959)
• United States v. Paramount Pictures, Inc. · 334 U.S. 131 (1948)
• Apex Hosiery Co. v. Leader · 310 U.S. 469 (1940)
• United States v. Hutcheson · 312 U.S. 219 (1941)
• Allen Bradley Co. v. Local Union No. 3, International Brotherhood of Electrical Workers · 325 U.S. 797 (1945)
• Pan American World Airways, Inc. v. United States · 371 U.S. 296 (1963)
• Goldsmith v. United States Board of Tax Appeals · 270 U.S. 117 (1926)
• United States v. Radio Corp. of America · 358 U.S. 334 (1959)
• California v. Federal Power Commission · 369 U.S. 482 (1962)
• Colorado Anti-Discrimination Commission v. Continental Air Lines, Inc. · 372 U.S. 714 (1963)
• Anderson v. United States · 171 U.S. 604 (1898)

Cited by

Later Supreme Court opinions in our collection that cite this case.

• Ricci v. Chicago Mercantile Exchange · 409 U.S. 289 (1973)
• Gordon v. New York Stock Exchange, Inc. · 422 U.S. 659 (1975)
• Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Ware · 414 U.S. 117 (1973)
• Northwest Wholesale Stationers, Inc. v. Pacific Stationery & Printing Co. · 472 U.S. 284 (1985)
• United States v. National Association of Securities Dealers, Inc. · 422 U.S. 694 (1975)
• Hughes Tool Co. v. Trans World Airlines, Inc. · 409 U.S. 363 (1973)
• Radzanower v. Touche Ross & Co. · 426 U.S. 148 (1976)
• Otter Tail Power Co. v. United States · 410 U.S. 366 (1973)
• Chadbourne & Parke LLP v. Troice · 571 U.S. 377 (2014)
• Community Communications Co. v. City of Boulder · 455 U.S. 40 (1982)
• Greene v. United States · 376 U.S. 149 (1964)
• Southern Motor Carriers Rate Conference, Inc. v. United States · 471 U.S. 48 (1985)
• Board of Regents of State Colleges v. Roth · 408 U.S. 564 (1972)
• Herman & MacLean v. Huddleston · 459 U.S. 375 (1983)
• United States v. Philadelphia National Bank · 374 U.S. 321 (1963)
• Securities & Exchange Commission v. Capital Gains Research Bureau, Inc. · 375 U.S. 180 (1963)
• National Collegiate Athletic Ass'n v. Board of Regents of the University of Oklahoma · 468 U.S. 85 (1984)
• Broadcast Music, Inc. v. Columbia Broadcasting System, Inc. · 441 U.S. 1 (1979)
• De Canas v. Bica · 424 U.S. 351 (1976)
• Ray v. Atlantic Richfield Co. · 435 U.S. 151 (1978)
• American Society of Mechanical Engineers, Inc. v. Hydrolevel Corp. · 456 U.S. 556 (1982)
• Verizon Communications Inc. v. Law Offices of Curtis v. Trinko, LLP · 540 U.S. 398 (2004)
• Cantor v. Detroit Edison Co. · 428 U.S. 579 (1976)
• St. Paul Fire & Marine Insurance v. Barry · 438 U.S. 531 (1978)
• Norfolk & Western Railway Co. v. American Train Dispatchers' Ass'n · 499 U.S. 117 (1991)
• Hoover v. Ronwin · 466 U.S. 558 (1984)
• Federal Maritime Commission v. Seatrain Lines, Inc. · 411 U.S. 726 (1973)
• Federal Trade Commission v. Superior Court Trial Lawyers Ass'n · 493 U.S. 411 (1990)
• United States v. United Continental Tuna Corp. · 425 U.S. 164 (1976)
• Brotherhood of Railway & Steamship Clerks, Freight Handlers, Express & Station Employees v. Association for the Benefit of Non-Contract Employees · 380 U.S. 650 (1965)

Official text

Read the official opinion (U.S. Reports, govinfo.gov)

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Source: the U.S. Reports via govinfo.gov; authoring Justice and vote lineup from the Supreme Court Database (Washington University). Citation count from the Free Law Project’s CourtListener bulk data. Data last verified 2026-07-03. Informational only; verify against the primary source before relying. Not a consumer report (FCRA).