Word: sec
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Dates: during 1930-1939
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Last week, when the Kelly-Nash machine was upset by Governor Henry Homer in the Illinois primaries (sec p. 13), Editor Harris might have felt some justifiable pride in having helped. But he was too full of worries. There was not enough money in The Beacon's till to pay for printing the first anniversary issue, now a fortnight overdue. Not ready to admit he was licked. Sydney Harris last week broadcast a final appeal for help...
...inflationary devices as desterilizing the $1,392,000,000 gold the Treasury has been hoarding for over a year and lowering bank reserve requirements. Closer to home so far as the average businessman is concerned were two other changes in policy: 1) to help small enterprises float security issues, SEC eased registration requirements for issues of $100,000 or less, reduced the amount of information necessary in small registrations; 2) to aid businesses which are unable to get credit under existing banking rules, Franklin Roosevelt signed the Glass Bill permitting RFC to make $1,500,000,000 in loans...
...SEC last week scheduled public hearings to question Morgan Partners George Whitney, Francis Bartow and Harry Davison on their knowledge of Richard Whitney's failure. Called to the stand meanwhile was Dick Whitney's predecessor as president of the Exchange, Edward H. H. Simmons, who testified that he knew last November that Dick Whitney had been using the Stock Exchange Gratuity Fund improperly but had not reported it to his fellow Exchange governors because George Whitney made good the deficit. Asked if he considered this the full measure of his duty, he remarked: "It is easy...
...recommended sweeping reforms (TIME, April n). For two months before this, A. T. & T. stock was under sharp market pressure, fell from $149 to $111. As soon as the Walker report was out, A. T. & T. bounced up $9.75 in two days. To FCC and SEC this looked suspicious; last week both launched investigations...
Three days before, the fallen financier had undergone his last inquisition-by the SEC, which sought to learn from his crimes a basis for preventing any more like them in Wall Street This morning he had said good-by to his wife and two daughters, all of whom have indicated that they will go to work. Standing silently in court he had just listened to a long, florid plea for mercy by his lawyer, Charles Tuttle. Excerpt...