Word: sec
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Dates: during 1930-1939
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...exist. Fitzgerald, Larmor and Lorentz shored up the collapsing ether-concept by showing-theoretically-that a moving body must contract slightly in the direction of motion, that a moving clock would therefore slow down. Though imperceptible except at speeds approaching light's velocity (186,000 mi. per sec.), these changes would affect a Michelson-Morley apparatus just enough to cancel any possible observation of the ether-drift-by altering the timing mechanism and the measuring rods...
Famed Banker Thomas William Lamont last week fidgeted on the witness stand for two hours in Washington. He was trying to tell SEC Lawyer Gerhard Gesell (whose 28 years of age precisely equalled the period Mr. Lamont has worked for J. P. Morgan & Co.) why he had told nobody about it when he learned last November that Broker Richard Whitney was not only insolvent but also guilty of using customers' funds illegally. When his partner, George Whitney, came to him to borrow $1,082,000 to help his brother Dick "out of a jam," explained Mr. Lamont. "I moved...
...SEC lawyer: "Wasn't the matter on your conscience...
...when its portfolio held securities worth some $3,300.000, and that Continental has since been looted so thoroughly that only $20,000 in marketable securities are left. In the process Continental acquired control of an investment trust named Reynolds Investing Co., which is now being investigated by SEC. Brokerage transactions for both were handled by the firm of Prentice & Brady which began liquidation April first and is now being investigated by the Attorney General's office (TIME, April 25). C. When the ig-year-old firm of Hoagland & Allum went into receivership with a shortage of some...
...SEC gets no regular reports from brokerage firms which are not Exchange members ; the Illinois Securities Commission has a staff of only two people. Thus Hoagland & Allum got by for five years until President Joseph V. Moreschi of the International Hod Carriers. Building and Common Laborers' Union of America found himself unable to get back $47.000 of his own money and $64.000 of union money. Just before Hod Carrier Moreschi complained to State's Attorney Thomas J. Courtney last fortnight. Hoagland & Allum Vice President Russell W. Brown was found dead of carbon monoxide poisoning in his garage...