Word: bellancas
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...present-a summons from the Securities & Exchange Commission to show cause why he should not be suspended from all U. S. exchanges in which he holds memberships. SEC had reason to suspect that Mike Meehan was up to his old tricks, this time not in Radio but in Bellanca Aircraft Corp. listed on the New York Curb Exchange...
According to the stockmarket's omniscient policeman, Mr. Meehan had been jiggling Bellanca since last April, using the old but now forbidden device of "matched orders''-buying & selling simultaneously to create an appearance of market activity. This is done to make the public think that something exciting is about to happen in the stock under manipulation, lure them in as buyers. Jiggled or not, Bellanca rose from a low this year of $1.75 per share to a high of $5.50. Last week, though no one except a few SEC and Curb officials were supposed to know about...
Part of Mr. Meehan's interest in Bellanca arose from the fact that he was one of the underwriters of an additional issue of Bellanca stock that was to have been publicly offered this week at $5 per share. If Bellanca stock were selling below $5 in the open market, the underwriters would have had a hard time selling their new-issue. And apart from its charges against Mr. Meehan SEC also held up Bellanca's registration, threatened a stop-order...
...More than 75 Negro doctors and engineers, trained in American colleges, have settled in Abyssinia since I cut the path," said Col. Julian. "To the news of Italy's aggression my instinctive reaction was at once to take off for Abyssinia in my black Bellanca plane (see cut). However, I restrained my ardor whilst assembling some combat and bombing equipment which I will take with me by ship to Aden, thence flying the planes to Addis Ababa...
...start last week. Represented by each entry were countless technicalities, endless research, details, delays, many a heartbreak. Of the 64 original entries, more than two-thirds had withdrawn. Night before the start Colonel James C. Fitzmaurice, Irish transatlantic flyer, had been disqualified when his U. S.-built Bellanca special, Irish Swoop, proved overweight...