Word: courting
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Dates: during 1930-1939
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Starting as a sharp crack with the Court fight in 1937, the Democratic split had widened after Mr. Roosevelt's abortive Purge of 1938. The elections last autumn drove in fresh wedges so alarming to Mr. Roosevelt that he attempted no legislative program of his own in the 76th Congress except nonpartisan National Defense. Scornfully he challenged Congress to get a legislative program of its own. Slowly awkwardly but with a determination which mounted as Mr. Roosevelt opposed and sneered at it, the Congress did formulate and pursue such a program...
...Walter-Logan Bill provides recourse through the Federal Circuit Courts and up to the Supreme Court, thus throwing vast legal jungles open to immediate appeal (and possible exploitation). Moreover, the bill imposes strict rules upon administrative officers and employes for making their decisions public and in writing for all to see. Damages are provided for injured appellants. The Department of Justice dislikes the act because it goes so far, and because a committee appointed by Frank Murphy is working on the same subject, might well produce a monument...
...year of violent change for 63-year-old Boss Groesbeck. Its turning point was the Supreme Court's decision against Electric Bond & Share in its test case on the Public Utility Holding Company Act. Groesbeck saw the handwriting on the wall, quit beating his head against it. Promptly, Bond & Share registered with SEC. Holding company service subsidiaries had frequently been charged with bleeding operating companies. So Bond & Share forfeited all income (about $800,000 a year) from its management firm (Ebasco Services, Inc.), which began servicing the system's operating units at cost. Next, Groesbeck pulled...
...stockholders feared that their drug firm might be busted. Approximately one fourth of its $86,556,270 assets was just figures written on the books to keep the company looking prosperous while imposing Impostor F. Donald Coster milked it. Trustee William J. Wardall, appointed by the U. S. District Court to straighten out the mess, last week mailed to stockholders his first full report of the firm's financial condition...
...that the syndicate bought it to protect the corporation from Mr. Markle. Nonetheless, bushy-haired Justice Ferdinand Pecora returned a thumping judgment against Morris & friends for $443,202, including interest. Last week, Justice Pecora's judgment having been reversed on the first appeal, New York's Court of Appeals (last resort) polished it off for good. In an unanimous decision six of its judges set aside Justice Pecora's judgment, found nothing wrongful or improper in the deal...