Word: cyrus
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...Securities and Exchange Commission came out fighting another round with Financier Cyrus Eaton. During the four-month investigation of his ole in the Kaiser-Frazer Corp.'s $10 million underwriting fiasco (TIME, May 24), Eaton had tried to slow up SEC by ridiculing, cajoling, pleading and threatening, had finally gone into a clinch with a legal gimmick involving lawyer-client privilege. Last week SEC decided to try for a knockout. It ordered a hearing next month to decide whether Eaton's Otis & Co. should be allowed to stay in business...
...company was one of the underwriting syndicate, along with Cyrus Eaton's Otis & Co., which promised to float the third Kaiser-Frazer stock issue. When Eaton called off the deal (TIME, May 3), Allen stuck to his word, handed K-F a check for some $2,500,000, ready to take the loss. (K-F later returned the check...
...place was Valentia, Ireland, European terminus of Cyrus Fields' newly laid transatlantic cable. A young telegrapher named Joseph May heard an unfamiliar hum on his code receiver. He stumbled on the cause: a shaft of sunlight, streaming through the window, fell on an electrical resister and jammed his code receiver. When May passed his hand between the light and the resister, the hum stopped. But why? May decided, rightly and brightly, that the resister (or the selenium that coated it) must have what are now called photoelectric properties; i.e., that it could convert light values into electric values...
...down career, Cleveland's Cyrus S. Eaton has squeezed out of many a corner. Last week he was in one more: the Securities & Exchange Commission had chivvied him into as tight a spot as he had ever been...
...client? Hull refused to name him. So did Hull's partner, Marvin C. Harrison, until SEC hauled them up before a federal judge in Detroit. He ordered them to answer or risk jail for contempt of court. Unhappy Lawyer Harrison then named the mysterious client: it was Cyrus Eaton...