Word: eatonized
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...Whistle at Eaton Falls. Producer Louis de Rochemont bases his provocative story of labor-management relations on true incidents, and takes a sympathetic look at the thorny problems of both sides (TIME...
...Rochemont lives and works in Portsmouth, N.H., which played Eaton Falls in his latest picture. His production unit is full of young men, e.g., Associate Producer Borden Mace is 31; one of De Rochemont's insistent beliefs is that Hollywood's hardened arteries need young blood. Now in preparation (under a financing-releasing deal with Columbia Pictures that gives De Rochemont firm control of his "moviemaking): Walk East on Beacon, a thriller, based on FBI files, about attempts to steal a top U.S. secret whose existence the public still does not suspect. Last time De Rochemont made that...
...also got permission to investigate Otis' books. It wants to find out whether Cyrus Eaton and William R. Daley, Otis' biggest stockholders, have reduced Otis' assets by transferring into their personal accounts securities valued at $3,229,639 which they had lent the company. Otis announced that it would close down its brokerage business this week. Nevertheless, SEC went right ahead with proceedings to ban Otis from the brokerage business...
Otis & Co. announced that it would appeal the decision. Cy Eaton was in a tight spot and he knew it; his welshing on the deal was the first such case since the Securities Act of 1933. But he had squeezed out of many a tight spot before. In the '20s, Eaton and associates wielded great power through big holdings in Republic Steel, United Light & Power, and Continental Shares. In the depression, Eaton lost millions of dollars. He made his comeback with such ventures as Canada's Steep Rock Iron Mines Ltd. (TIME, Sept. 29, 1947), organizing the Portsmouth...
When Kaiser sued, SEC tried to revoke Otis & Co.'s underwriting license, but Eaton won the case in court. The National Association of Securities Dealers then stepped in and suspended him for two years. Eaton has managed to hold that up pending an appeal to SEC. With the K-F decision against him, Eaton may well lose the N.A.S.D. fight. He also faces another battle with SEC to keep from being banned from underwriting for good...