Word: actes
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Dates: during 1930-1939
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...upped by seniority. Southern leadership would be decimated, and the way of future measures like the recently enacted Wages-&-Hours Bill (see p. 9) would be greatly eased. Lacking the necessary cosmic powers, C. I. O. politicos last week proposed to accomplish the foregoing and more by an Act of Labor...
With some hope of salvaging its industry, the Association of American Railroads three months ago voted a 15% wage cut effective July 1 (TIME, May 9). But so complex is the machinery provided by the Railway Labor Act that the A. A. R. realized it would take several months of bickering to put through the cut. Last week the industry got a taste of what might happen in the meantime. Rutland Railroad Co. (407 miles of track mostly in Vermont), which has lost $2,000,000 since 1931, went into receivership two months ago and Federal Judge Harland B. Howe...
...governor. Although the scheme worked well enough then, it has taken thousands of years, millions of dollars and Secretary of Agriculture Henry A. Wallace to put it on the grand scale. After four years Secretary Wallace finally succeeded in getting Congress to adopt the plan in the Agricultural Adjustment Act of 1938. Last week his emissary to the International Wheat Conference in London ambitiously proposed putting the granary plan on a world-wide basis...
...Began an investigation of the investment policies of insurance companies. By the Securities Act of 1933, new security issues must be registered with SEC before sale unless the entire issue is to be sold to one buyer. With their huge cash resources, insurance companies habitually buy entire issues. Investment bankers estimate the total of such purchases as high as $1,500,000,000 a year. SEC Chairman William O. Douglas last week commented that this gave "insurance companies a preferred status over other investors." As a part of the current Monopoly Investigation, SEC will study the subject...
...Exempted small utility holding companies from the Public Utility Act of 1935 ("death sentence"). Promulgated by SEC was the new rule exempting from all provisions of this law utility holding companies and subsidiaries whose entire system gross revenues derived from the utility business did not exceed $150,000 in the last fiscal year. Utility men estimated the number of such companies at about...