Word: armstrong
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Dates: during 1950-1959
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Hamilton Fish Armstrong, editor of Foreign Affairs Litt.D...
Trouble All Around. As a result of the decision, businessmen could descry trouble ahead for dozens of big and little U.S. companies. Sears, Roebuck & Co. owns big blocks of stock in such suppliers as Whirlpool-Seeger Corp., Florence Stove Co., and Armstrong Tire & Rubber Co.; Gulf Oil has a 12% interest in Texas Gulf Sulphur, which supplies Gulf with sulphur; Olin Mathieson Chemical has 25.8% of Marquardt Aircraft and 50% of rocketmaker Reaction Motors, for which it is helping develop rocket fuel. And by successfully going back 30 years to trip Du Pont, trustbusters had won the right...
...actual) stockholders to be identified before voting in any U.S. proxy fight. But if Senator Capehart thought he was doing the SEC a favor, he got a rude surprise. Last week, at the Senate Banking subcommittee hearings on the use of foreign banks in U.S. proxy fights, SEChairman Armstrong flatly opposed the measure. Present SEC laws permit stock owners of record, such as banks or brokers, to vote stock in proxy battles, and they require disclosure of beneficial ownership only by those directly involved in the fight or owning more than 10% of the stock. Armstrong said that...
Cloak of Anonymity. Armstrong's objection overlooked the fact that Capehart merely wants to force stockholders represented by foreign banks to abide by U.S. regulations. Where illegal activity is suspected, the SEC can usually identify beneficial owners of stock held by U.S. banks-by subpoena if necessary. But it has no sure way of determining what part anonymous Swiss bank clients play in American proxy battles, therefore does not know when the law is broken. In a recent proxy battle for control of Fairbanks, Morse & Co. by Penn-Texas Corp. involving stocks purchased through Swiss banks, Armstrong admitted that...
...Barney Ross (Cameron Mitchell), onetime lightweight (1933) and welterweight (1934-38) boxing champion of the world.* The story starts with Barney's famous victory over Jimmy McLarnin, describes his wastrel ways as champion, and soon comes to his downfall under the whirling assault of the human pinwheel, Henry Armstrong. In the next few years, as the film tells the story, Barney gambles away his restaurant business and (for the time being) the affection of his best girl (Dianne Foster), winds up in the Marines during World...