Word: pennsylvania
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Dates: during 1930-1939
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Senator Logan's act, introduced by Pennsylvania's Walter in the House, embodied a protest which he and other eminent legalists, in & out of the American Bar Association, have been making since long before the New Deal: that the administrative departments and independent agencies of the Government (notoriously the Federal Trade Commission in Republican days, the NLRB and SEC more lately) have compiled vast tomes of offhand, capricious rulings which have the force of law and from which there is no clear recourse...
...trains east to Ontario for gold, found none, jumped another freight back, worked in British Columbia logging camps (where friendly lumberjacks organized a bodyguard to protect him from those who resented his slickness), prospected in the Mojave Desert (where all he got was sunstroke), shoveled coal in Utah and Pennsylvania, bummed. Once, arriving in Eugene, Ore. with 5?, he talked local businessmen into backing a sporting goods store, gave golf lessons to drum up trade. He played in the low 120s. In 1928 he landed a job in a San Francisco bond house; by 1930 he was Anglo California National...
...late 1920s Founder Arthur J. Morris of the Morris Plan banks and four other members of a syndicate bought 14,550 shares of Industrial Finance Corp. stock from the late Pennsylvania Coalman John Markle. The price was $95 a share. It happened that Industrial Finance Corp., parent of Morris Plan banks, was under obligation to repurchase that stock at $105. Eventually the syndicate including Arthur Morris and four other directors of Industrial, sold the shares to the corporation, at a profit...
Homeward bound on the Pennsylvania one night, an idea struck him. In the arid west, where the U. S. Bureau of Reclamation has for years provided water and sometimes generated power as a byproduct, Bond & Share units have bought this public power and transmitted it to their own customers over their own lines. Why could not Bond & Share keep Bonneville and Grand Coulee from building transmission lines by the same means? Why not buy their power and distribute it, dovetailing public power plants with private transmission lines and private meters...
...structure of Bond & Share's National Power & Light. Meeting one of SEC's main objections (the needless ramifications of utility finance), he announced dissolution of National's "intermediate holding company," $332,000,000 Lehigh Power Securities. Henceforth, National will have direct control of Lehigh's Pennsylvania Power & Light Co., which supplies electricity to 700 Pennsylvania communities...