Word: sec
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Dates: during 1930-1939
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...Francisco the U. S. Circuit Court of Appeals upheld the Securities & Exchange Commission rule that the issuer of stock may not avoid registering it with SEC merely by limiting the offering to company stockholders. The case grew out of an attempt by small, unimportant Sunbeam Gold Mines Co., a Nevada corporation with headquarters in Tacoma. to sell unregistered securities by mail to its stockholders. SEC was pleased because it was the first time the matter had been considered by a court of appeals...
...efforts to satisfy the demand for more credit facilities, first enunciated by the small businessmen's conference in February, Franklin Roosevelt appointed Secretary of the Treasury Henry Morgenthau Jr. head of a committee to study the problem and prepare a program for its solution. The committee: James Roosevelt, SEC Chairman William O. Douglas, RFC Chairman Jesse H. Jones, and Vice Chairman Ronald Ransom of the Federal Reserve Board...
...year's most important case-the test of the constitutionality of the registration requirement of the Public Utility Act of 1935. By a vote of 6-to-1 (sick Justice Cardozo and Freshman Justice Reed not participating; Justice McReynolds, as expected, dissenting) the Court upheld SEC in its test suit against Electric Bond & Share...
...Deal's harshest reform, the Public Utility Act ordered all utility holding companies to register with SEC under the penalty of being forbidden use of mails or other facilities of interstate commerce. SEC would then have power to control their financial transactions and, under the famed "death sentence" clause, to force simplification of any utility pyramid into a single geographically integrated system with only one intermediary company allowed between the top holding company and actual operating subsidiaries. When most of the utility business refused to register, SEC agreed to hold the Act in abeyance while it brought a test...
...unlike the "Old Guard" of the New York Stock Exchange, the members of the Chicago Board of Trade regard themselves as an exclusive club with a divine right not only to deal in grain but also to speculate in it. Just as the Stock Exchange has its SEC, so the Grain Pit has its CEA. But the Commodity Exchange Administration so far has been quite liberal and one of the few limits to speculative activity in grain is a mysterious "gentlemen's agreement" said to have been reached in 1926 by a Kansas city grain merchant named Lonsdale...