Word: banes
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...Buffalo gnat swarm which descended on Arkansas last month (TIME, May 7) usually catch entomologists as well as farmers off guard, but against better known enemies spring surveys are conducted to find out how they survived the winter. Reports this year were far from heartening. Grasshoppers, No. 1 bane of Northwestern grain farmers, got through a mild winter in enormous numbers. Chinch bug mortality in the Midwest was only 3%. In Indiana and Kansas 93% of Hessian flies emerged unscathed from their underground puparia. Millions of Mormon crickets came safely through in Colorado, Idaho, Wyoming. Montana. Bitter cold...
...Section 2 of the 1933 Act defining an offer to sell with Section 5 forbidding delivery of unregistered securities in interstate commerce, said the lawyers, it might be illegal to trade in securities on a "when, as & if issued" basis. In any event clients had better ask Baldwin B. Bane, chief of the Trade Commission's securities division. The New York Curb Exchange telephoned Mr. Bane for a ruling. Yes, said Mr. Bane, if the securities which would or might be issued were not exempt, trading was most certainly illegal. Hastily the Curb suspended trading in all when-issued...
...file registration statements, since they were new companies (TIME, June 4). Armour, which intended merely to exchange new issues for old, was evidently exempt. On this assumption the Chicago Stock Exchange gingerly resumed trading in Armour but the Manhattan exchanges took no chances. They felt that while Mr. Bane had told them what not to do, he had in no sense said what they could...
...President Thomas George Lee of Armour & Co. Mr. Bane's oral ruling came as the final spasm in a year-long nightmare. Mr. Lee, who pulled profits out of Armour last year for the first time since 1930, tried to reorganize the packing company last summer but various stockholder groups blocked him at a rowdy meeting in August. Salaries next became the target for the protective committee's publicity. Months of wrangling over a new board revealed that Frederick Henry Prince, crusty septuagenarian banker of Boston, had become Armour's biggest individual stockholder. Last January another rowdy...
...outside world the candidate is a pestilence, and the snooping, prying novitiate is a bane to all civilized people. Even to those on the inside his behavior is inexplicable. In these days of emphasis on psycho-analysis it would not be a fruitless task for the psychological laboratories to delve deep into the inner makeup of the CRIMSON candidate...