Decision of Federal Communications Commission refusing to renew radio station's license because station's general manager appeared on behalf of station of various hearings before Federal Radio Commission and Federal Communications Commission and furnished false testimony, so as to conceal holdings of one stockholder, could not be reversed because it would injure innocent stockholders or because commission had previously taken less drastic measures in prior similar cases. Communications Act of 1934, §§ 308(b), 312(a), 402(e), 47 U.S.C.A. §§ 308(b), 312(a), 402(e).

Decision of Federal Communications Commission refusing to renew radio station's license because station's general manager appeared on behalf of station at various hearings before Federal Radio Commission and Federal Communications Commission and furnished testimony, so as to conceal holdings of one stockholder, could not be reversed by court on ground that the decision imposed a penalty or because of commission's failure to make findings with respect to quality of station's service in the past and its equipment for good service in the future. Communications Act of 1934, §§ 308(b), 31 (a), 402(e), 47 U.S.C.A. §§ 308(b), 312(a), 402(e).

Mr.Harry M. Plotkin, of Washington, D.C., for petitioner.

[Argument of Counsel from page 224 intentionally omitted]

Mr.William J. Dempsey, of Washington, D.C., for respondent.

Mr. Justice JACKSON delivered the opinion of the Court.