Word: acted
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Dates: during 1930-1939
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...most of it lost by smalltime investors-the U. S. was ready to elect a New Deal, to whom Samuel Insull and his ill-reputed holding companies were anathema. Even though Insull was eventually acquitted of using the mails to defraud, of embezzlement and of violating the Bankruptcy Act, the emotion generated by the Insull crash made it possible for Franklin Roosevelt to secure from Congress a "death sentence" for utility holding companies...
...Monopoly Investigation sharpened its pencils and Big Business received a thumping endorsement from the Brookings Institution (see col. 3), the Federal Trade Commission polished off a two-year investigation of the farm-equipment industry by proposing a major change in the 24-year-old Clayton Anti-Trust Act. This product of the first trust-busting era made it illegal for one company to purchase the capital stock of another when the result might substantially lessen competition or tend to create a monopoly. FTC claims that the farm-equipment industry is an example of this law's effective evasion through...
While everybody in the air transport business knew that the new act was far better for all concerned than anything previously devised for air industry control, they knew, too. in the words of Eastern Airlines' plain-talking War Ace Eddie Rickenbacker, that "the McCarran-Lea act will be only as good as the men who comprise the board...
...Authority's administrator, Franklin Roosevelt appointed friendly, hard-working Career Man Clinton M. Hester, counsel to the Treasury Department and a frequent advocate of the Act during Congressional hearings. Born 43 years ago in Des Moines, Iowa, he has spent 20 years in Federal service, studying law at Georgetown while a Government clerk. His new job: to execute the Authority's orders...
...Began interstate regulation of natural gas companies. Under the Natural Gas Act passed by Congress last month, the Federal Power Commission was given powers similar to those it has over interstate transmission of electricity. Last week FPC started a broad investigation of the whole field, filed preliminary rules & regulations for the industry effective July n, ordered the filing by all natural gas companies of rates, charges, contracts and agreements for the interstate transport and sale of natural...