Word: prospectuses
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...great, sunbursty slick-paper prospectus issued last week, the Midnight Sun Broadcasting Co. gave advertisers some idea of the possibilities of the Alaska market. Alaska's bill last year for U. S. merchandise was $42,676,441. Fish cannery equipment and mining machinery were the biggest items. The petroleum bill was $3,505,819; tobacco, $1,061,621. The cosmetics purchases were not worth listing...
...against the Public Utility Holding Company Act of 1935, nothing so delights official Washington as seeing his vast Associated Gas & Electric Co. caught off-base. SEC is trying to delist A. G. & E. stock from the New York Curb Exchange because of alleged "false and misleading" statements in its prospectus. Last week its investigation turned up a choice tidbit which SEC promptly speared...
...Note: Harvard's proposed marriage course, which was widely petitioned for recently, must still be termed strictly tentative. Nevertheless, Harvard can ill afford to overlook the opportunities presented by domestically inclined North Carolinians, especially when the prospectus for the Conference proclaims: "The program of this conference, as was true of those preceding, is made up of co-laborers in the field of marriage...
...front money" racket. As uncovered by SEC on the West Coast, the racket works as follows: a broker with a luxurious office advertises he can obtain capital up to $100,000 for persons with ideas or assets to capitalize. The sucker pays $250 to $2,500 to file a prospectus, smaller fees to organize a corporation and qualify its securities in New York. One Paul E. Reinhardt, front man for front money in Los Angeles, told SEC that for none of his 150 clients had he ever sold a single security...
Last week, Captain Donald John Munro, R.N., C.M.G., opened the 1938 season by issuing a prospectus for Loch Ness Monster Co. Captain Munro announced that he would soon issue shilling shares to finance active research. He proposes to build three lookout towers, each equipped with a telephoto camera, range finder, stop watch, powerful binoculars, sound apparatus like that used for detecting the presence of submarines. L. N. M. Co. will determine Nessie's size, her speed of travel, and whether she is, as various eyewitnesses and scientists have declared: 1) an elephant seal which swam in from the North...