Philip Albert Loomis Jr. ’38

Phil, whom we honored with our Distinguished Service Award in 1978, was a notable legal scholar. He was Phi Beta Kappa at Princeton, graduating with highest honors in economics, and summa cum laude at Yale Law. In 1954 he became a special consultant to the Securities & Exchange Commission. He wrote the basic rules for stabilizing the prices of newly offered stocks, then became associate director of the Commission's Div. of Counsel Trading & Exchanges. By 1963 he was the SEC's general counsel, and in 1971 Pres. Nixon appointed him a commissioner. Briefly, during the Reagan Administration he served as acting head of the Commission, but suffering ill health he resigned in 1981 with three years still remaining on his term.

Phil won the Commission's Distinguished Service Award in 1967, as well as the Natl. Civil Service League's career service award in 1964 and the Judge Tom Clark Award of the Federal Bar Assn. in 1971. He served as a trustee of the Webb School, which prepared him for Princeton, and was an enthusiastic yachtsman. He died on Sept. 12, 1996. His wife, Maryanna Hunter Oliver, died in 1968. They had three children: Sara Mary, Philip W., and Margaret L. The class extends condolences and warm good wishes to the family.

The Class of 1938