Word: lennox
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Dates: during 1950-1959
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Price of Mistake. Finally, Her Majesty's government was forced to recognize that they had made a mistake. Under new Colonial Secretary Alan Lennox-Boyd, agreements were worked out which changed the Kabaka from an absolute to a constitutional (and therefore more manageable) monarch, and King Freddie agreed to swear renewed loyalty and obedience to the Queen. But Freddie got more than he gave. The British reshaped the protectorate's Legislative Council to include, for the first time, more Africans than whites. They promised not to press the East African Federation. They gave Buganda control over...
...Britons came to admire the Kabaka's refusal to foment trouble; they were even more impressed by the unchanging loyalty of his people back home, who adamantly refused to accept any other king. As the months passed, the Colonial Office, under the direction of a new minister, Alan Lennox-Boyd, came to the reluctant conclusion that the whole thing might have been a mistake...
...Canadian mining stocks in the U.S. Under the agreement, Ontario said it would force its stockbrokers to abide by SEC laws when peddling stocks in the U.S.; if they failed to do so, they would be subject to extradition and trial in U.S. courts. Last week Chairman O. E. Lennox of the Canadian commission announced that Ontario had dropped the deal as "a dismal failure...
...Lennox complained that the SEC had agreed to clear qualified Canadian issues within 15 days after they were filed, but in practice the clearance had taken up to two months. Furthermore, a change in the wording of the agreement, which Lennox had not approved, opened a loophole for fly-by-night American promoters to operate in Canada-and SEC was doing nothing to stop them. But the biggest trouble was that most of the Canadian sharpies had simply moved their operations to Montreal (TIME, May 10), where there was no agreement with...
...Although Lennox warned that he would continue to crack down on any Ontario promoters out to fleece investors by mail or telephone, it looked to Wall Streeters as if the door might be blowing open again...