Word: act
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Dates: during 1930-1939
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...June had increased its assets another 67% to $539,585,596. By March 1931, when U. S. business began a steep two-year nose dive, United had increased its assets to a peak of $594,603,470. Two years later during the famed investigation which sired the Securities Exchange Act, Inquisitor Ferdinand Pecora brought out that at that peak the "United group" controlled 22-to-23% of U. S. electric production, some 22% of gas output; and that its half billion dollars of common stocks had brought under Morgan domination a utility empire* ("worth...
...SEChairman Joe Kennedy and his aide, SEC General Counsel Judge Johnny Burns (who had been Massachusetts' youngest Superior Court member) became annoyingly literal about applying SEC's Public Utility Holding Company Act of 1935 to United. United and SEC remained at war for three years...
...March 28, 1938 the Supreme Court settled matters by ruling the Holding Company Act valid. The first price of compliance with the Act was the resignation of Banker Whitney, two other friendly banker directors. But Niagara Hudson's Floyd Carlisle was re-elected to the United board-as the representative of "a large investing interest." United announced it would register as a holding company...
...underwriting of new capital issues in the public utility and other fields." As a first step United asked permission to invest $8,000,000 of its $12,400,000 of cash in industrial common stocks. Last March SEC gave consent; last week United showed that it had begun to act...
...Yokel Boy occasionally makes fun of Hollywood, more often it imitates it. The show's bright particular absurdity is its first-act curtain-a superpatriotic spectacle featuring, at different stage levels, marching men, moving battleships, zooming planes, happy firesides and village blacksmiths-an assembly-plant version of The American...