Stock Clearing Corp.

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.