Word: sec
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Dates: during 1930-1939
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...Absent: Indiana's Van Nuys (ill), Illinois' Lewis (traveling). Four days later, Lewis was dead (sec...
Inability to get capital financing was one complaint that jelled last year at the Small Businessmen's Conference (TIME, Feb. 14, 1938, et seq.). Since then three bills have been introduced in Congress to improve credit lines to small business. Last week Acting SEC Chairman Jerome Frank announced that all three bills would be held in abeyance while SEC and the Junior Chamber of Commerce collaborated in a study of the problem...
Under the direction of a young SEC lawyer named Peter H. ("Handyman") Nehemkis Jr., surveys will be made in 561 towns and cities. SEC itself will concentrate on ten "representative" cities.* Already well under way, the job is to be finished by June 1. Said Jerome Frank: "We want to drench ourselves in facts." A sample question small businessmen will be asked: What per cent of your inventories have you borrowed against...
Last week SEC also did the following for and to U. S. business: > Cracked out its first accusation of political bribery in violation of the Public Utility and Securities Acts. It charged the $255,000,000 Union Electric Co. of Missouri, a subsidiary of North American Co., with making contributions to certain candidates for public office, covering up the act with various "false and misleading" items in its balance sheets. Possible penalty for Union Electric officers if the charge is substantiated at hearings next week: prison terms of five years or fines of $5,000, or both...
...most spectacular pool operators of Wall Street's New Era was tense, redheaded Michael J. ("Mike") Meehan, onetime theatre ticket agent. Same week in 1935 that SEC started to drive him off the Exchange on charges of rigging Bellanca Aircraft stock, Broker Meehan bought a $130,000 seat for his son William as a 21st birthday present. Last week the Exchange announced that a seat had been sold for $60,000 to Mike Meehan's youngest son, Joseph, 21, a senior at Fordham University. If the sale is approved, Joseph Meehan will become the Exchange's youngest...