Word: bond
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Dates: during 1940-1949
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This particular phase of Wall Street's long fray with SEC started in February 1940, when Morgan Stanley agreed to let SEC "impound" the fees due them on a Dayton Power Co. bond issue, until SEC made sure the bankers were no "affiliate" of the utility. At the time, this seemed like a mere formality to Morgan Stanley; they certainly were not affiliated with Dayton Power, the money was just as good as theirs. But it wasn't. Last April (TIME, April 14) SEC (in what Morgan Stanley termed a "fantasy") declared Morgan Stanley was a Dayton Power...
Arise! ye who refuse to be bond slaves...
...held for $25,-ooo bail. When the U.S. attorney said that Ovakimian was a key figure in the Government's spy investigations, an FBI man shushed him in alarm. Ovakimian growled at the Soviet consul general, who treated him with vast respect (and posted a $25,000 bond with $50 and $100 bills), identified himself first as a buyer for Amtorg Trading Corp., next as representative of the "chemical trust," last as an agent of "the Commissariat." Around the Amtorg office he was always a feared and mysterious figure who came and went as he pleased, was reported...
Arrested by U.S. authorities on a technical charge of illegal entry, Werra was sent to New York City, placed in the custody of the German consul on bond. He stayed in New York about a month, touring nightclubs, telling tall tales to bug-eyed and sympathetic ladies from the German settlement in Yorkville...
...underwriting community wilted and reeled," reported the sympathetic New York Herald Tribune in telling how Federal Loan Administrator Jesse Jones last week offered to bid for public utility bond issues. "Investment bankers . . . saw the RFC as a potential competitor who could fix terms and rates, and put them entirely out of business...