Word: sec
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Dates: during 1930-1939
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...York to leave after 600 would-be borrowers had stormed it one morning in search of RFC loan application blanks. Nonetheless, Jesse Jones and Franklin Roosevelt were apparently not satisfied that enough uses had yet been found for RFC munificence. After White House conferences between Messrs. Roosevelt, Jones, SEC Chairman William O. Douglas and SEC Commissioner John W. Hanes. RFC revealed three more plans for injecting money into the hardening arteries of U. S. Commerce...
Underwriting. SEC last week announced that registration of new securities in the first quarter of 1938 set a three-year low of $355,819,000. In Wall Street it was considered quite a feat that a banking syndicate headed by Morgan Stanley & Co. managed to float successfully a $60,000,000 refunding for Consolidated Edison Co. of New York. Thus underscored still again was the almost complete stagnation of U. S. money markets which has existed for the last six months. Financiers are agreed that needed expansion of industry cannot occur until this stagnation is ended. But underwriters generally...
...SEC relentlessly pushed its investigation of the Richard Whitney failure, the famed name of Thomas W. Lament for the first time entered the case. Testifying in Washington, Morgan-Partner George Whitney revealed that he had borrowed from Morgan-Partner Lamont the $1,082,000 which he loaned his brother Richard last November to enable him to return securities of the Stock Exchange Gratuity Fund. Said he: "I told him [Lamont] that my brother was in a jam. ... I told him the general terms." Thus added to the record was the name of the second Morgan partner...
Franklin Roosevelt and Senator Burton K. Wheeler are on record as believing that most intermediate holding companies should be eliminated; Governor George Earle of Pennsylvania likes to assert that the long fingers of J. P. Morgan reach into too many crannies for the public good; SEC Chairman William Orville Douglas argues that major financing programs should always be subject to competitive bidding. Last week all three of these themes ran through the complicated story of a battle for control of rich Chesapeake & Ohio Railway...
...Potter will shortly have another arrow in his quiver-a report soon to be released by the impartial SEC on Mr. Young's proposed simplification of the Alleghany empire. SEC records show that this plan, formulated by a group preponderantly interested in the common stock of Alleghany, would benefit the common stock at the expense of other Alleghany and Chesapeake securities, notably the Series A Alleghany preferred. The owners of the 667,539 shares of this issue (among them Donaldson Brown and Mr. & Mrs. Young) were asked to surrender the right to accumulated dividends of $33 per share...