Word: capehart
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Dates: during 1950-1959
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Oklahoma's burly, scrappy Robert Samuel Kerr is a Democratic multimillionaire (Kerr-McGee Oil) who snap-shoots from the hip when he hears a rustling in the brush. Indiana's jowled Homer Earl Capehart is a Republican millionaire (Capehart radio-TV) who usually prefers to wait for another day. Last week Snap-Shooter Bob pressed Hesitant Homer too far, and the Senate echoed with high-priced debate. Subject: Dwight Eisenhower's brains...
Knocking down Capehart's plea for a White House advisory commission on monetary policy, Kerr fired first: "No man can help Eisenhower study the fiscal policies of this Government, because one cannot do that without brains, and he does not have them." While gallery spectators gasped and Capehart, outraged, tried to break in, Kerr went grandly on: "If the greatest fiscal experts this nation has ever produced marched in solid phalanx before Eisenhower for months ... he would emerge from the experience just as uninformed...
...solitude and to celebrate Marilyn's 31st birthday. ∙∙ The U.S. Senate is not only one of the world's most exclusive clubs but a club whose members are expected to step out-side for epithetical exchanges. Despite such restrictions, Indiana's Republican Senator Homer Capehart rose one evening last week and in mounting anger began to upbraid one of the handful of Senators present, Oregon's Democrat Wayne Morse. With some 20 gawkers lolling in the galleries, Capehart cited a reported statement by Morse that Dwight Eisenhower and skidded Teamsters Union Boss Dave Beck...
...remedy this situation, Indiana's Republican Senator Homer Capehart introduced a bill to require the beneficial (i.e., 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...
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...