Word: sec
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Dates: during 1930-1939
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...Edgar Howard Borck, captain of the Manhattan College team, ran the mile in 4 min., 13.9 sec., breaking by a half-second the classic record set by Cornell's John Paul Jones...
...Five-year-old Snark: the 52nd running of the historic mile-and-a-quarter Suburban Handicap; by a nose, over Jerome Louchheim's four-year-old Pompoon; in 2 min., 1 2/5 sec., fastest undisputed time in the history of the race; at Belmont Park. Disgruntled was the crowd of 25,000 who had gone to the track hoping to see Samuel Riddle's famed War Admiral run against his old rival, Pompoon, as a substitute for the widely publicized $100,000 Memorial Day race with Seabiscuit, which had been called off earlier in the week because...
...Approved the New York Stock Exchange's extension of SEC's rules on short-selling to odd as well as round lots. In January, SEC forbade short sales except at a price at least | of a point above the last transaction; odd lots-less than 100 shares-were specifically exempted. Before long almost a third of all odd-lot business was in short sales. The seven odd-lot firms on the floor agreed that something should be done. The governing committee of the Exchange drew up the new rule one morning, notified SEC at noon, had it approved...
...much as 50% the fees paid the trustee, attorneys and advisers in the reorganization of Utilities Power & Light Corp., now in Federal court in Chicago. The Public Utility Holding Company Act of 1935 gave SEC, instead of the Federal courts, the power to set maximum fees in reorganization. Last week was the first time SEC exercised this power. The ruling, which almost certainly will be regarded as a precedent, followed the trend for making reorganizations as inexpensive as possible...
...Announced it would this week begin a public SEC inquiry into the complicated investment trust scandal involving Burco, Inc., First Income Trading Corp., Continental Securities, Reynolds Investing (TIME, May 30). New York's Attorney General John J. Bennett Jr. meanwhile ordered 41 implicated financiers, attorneys and stockbrokers to appear next week in supreme court; accused them of siphoning $6,000,000 worth of marketable securities from their various companies and replacing them with securities of questionable value; got temporary injunctions restraining various of the 41 in varying degrees from buying or selling securities...