Word: sec
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Dates: during 1930-1939
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...take care of its $72,000,000 in senior securities, but left nothing for the common stock. Since C. & S. owns 99% of the common, Bear Willkie roared at the end of his chain. Last fall, baited anew by a Congressional committee investigating TVA, he countered by suggesting that SEC arbitrate the issue, offered to pay all appraisal expenses...
Last week, day after the Supreme Court decision on TVA, Franklin Roosevelt announced that SEC had informed him that it had no statutory authority to make such an appraisal. Next day, TVA's Chief Power Engineer Julius A. Krug, taking over during David Lilienthal's illness, went quietly to Wendell Willkie's green-carpeted office in Manhattan, ended the sport as far as Tennessee Electric is concerned...
...belly." A stone in Mr. Cullen's belly since he became International's head man has been the Public Utility Holding Company Act of 1935, requiring geographical integration of utility pyramids. Like many another utility magnate, Mr. Cullen tried to evade this "death sentence" without avail. SEC remained adamant and the stone in Mr. Cullen's belly still hurt. Last week...
Rangy, bespectacled Good Worker Henry, who is too modest to list himself in Who's Who, almost perfectly fulfills SEC Chairman William O. Douglas' definition of the disinterested professional director (see below...
Fortnight ago SEC Chairman William 0. Douglas made a speech urging U. S. Corporations to hire professional directors (TIME, Jan. 23). Last week this advertisement appeared in the New York Times...