Word: sec
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Dates: during 1930-1939
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Down from Manhattan and Philadelphia hurried crack power executives to observe the proceedings. Up from Washington hopped President Roosevelt's two trouble-shooting young legalites, Thomas Corcoran and Benjamin Victor Cohen, co-authors of the original bill. SEC was represented by Chief Counsel John J. Burns. Also on hand was white-crowned Lawyer John William Davis, whose imposing presence generated much of the interest in an otherwise dull case...
Then only 37, George Merrick was no ordinary promoter. He owned Coral Gables Corp. and dominated the municipality of Coral Gables. "I considered it my town," he said simply last week at the SEC hearings. "I founded it and it was dear to my heart...
...what interested SEC officials the most was the sale of some $8,000,000 of city bonds, long since in default. As any money spent by the municipality directly or indirectly advanced Mr. Merrick's dream, Coral Gables Corp. often arranged for the sale of the city's bonds. For one issue the corporation paid the city 97¢ on the dollar, then resold the bonds to bankers at 92¢, pocketing the loss because the proceeds were used to complete civic improvement promised lot-owners. Another $4,500,000 issue, which the corporation purchased from the city for a little less...
...Angeles dawn, she climbed into her black & silver Lockheed Orion, lumbered into the air, sped to New York in 13 hr., 34 min., 5 sec. Mrs. Putnam's non-stop record, made in 1932, went down by 5 hr., 29 min. Miss Ingalls probably would have beaten the men's non-stop record of 13 hr., 27 min.† if her radio compass had not broken down near Columbus...
...Speed record for men, made by Roscoe Turner with four stops for refueling, is 10 hr., 2 min., 51 sec...