Word: hedlund
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Dates: during 1940-1949
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...company's youngish President William Hedlund, 45, had just committed suicide at his home in Summit, N.J. Associates said he was a "war casualty"; Engineer Hedlund had worked himself (15 hours a day) into a sick, despairing man, while he boosted company production by $17 million in a year. A few hours later SEC, acting under powers never before used, suspended trading for ten days in the company's bonds, preferred stock, and its New York Stock Exchange listed common...
...order was issued for reasons other than Hedlund's death. Several weeks ago the company began discussions with SEC on the deterioration of its position. At the same time, SEC began to watch with interest the behavior of the company's securities. The bonds had slipped from 100 to under 90, and the common dropped from a high of 15¼ to 11⅜. Company officials approved the suspension as a sound move to protect security holders from losses generated by rumors, and held an all-day session in an effort to cut expenses and find...