Word: commissioner
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Dates: during 1930-1939
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Last week SEC and the Federal Power Commission simultaneously laid a big wet blanket over the second situation. SEC announced that no former members of its staff would be allowed to argue before it or assist at hearings in connection with cases which were pending during their SEC employment without...
¶To succeed resigned Joseph A. Broderick in the longest (14 years) term on the Federal Reserve Board, Franklin Roosevelt nominated bright-eyed Assistant Secretary of Commerce Ernest Gallaudet Draper, whose job it was to ride herd on the riotous Little Businessmen's Conference in Washington (TIME, Feb. 14...
...replied that he would not do so until the Interstate Commerce Commission announced its decision on the railroad application for a 15% freight rate rise, which he understood would be in a few days. Washington immediately took this remark as an obvious White House nudge in the commissioners' dignified ribs to hurry up and grant the rate rise before the roads folded up completely. In their own good time, last week the eleven commissioners, Mr. Mahaffie dissenting, let the commission's pleasure be known. Instead of granting the 15% the railroads had asked or even the 10% that...
That the decision pleased no one, not even the commission, was speedily apparent. President Roosevelt had no comment, but almost every railroad executive had plenty to say. President John Jeremiah Pelley of the Association of American Railroads was most temperate: "We're glad to have what they gave us...
Investment bankers generally refuse to underwrite small security issues for the plain reason that the bankers cannot pay the "fixed charges" and still make a worth while commission on the deal. Fixed charges in underwriting are legal fees, accountant fees and cuts to dealers. To gross $50,000, which investment...