Word: sec
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Dates: during 1930-1939
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...Chicago Exchange has never tangled with SEC and it had already initiated a reform survey three months before Bill Douglas cracked down on Charles Gay. Last week Chicago Exchange President Thaddeus Benson suddenly heard rumors that the Conway committee was about to report to Charles Gay. Eager to keep Chicago in the van, President Benson hastily got his governing committee to adopt a plan (subject to membership approval) for reorganization including the hiring of a paid president. One day later Charles Gay and Bill Douglas were handed a very similar plan conceived by the Conway committee...
...SEC had just cracked out an order forbidding short selling of securities "at or below" the last sale price. Since...
York Stock Exchange already had a rule against short sales "below'' the last price, SEC's action was not on its face of great importance. * More significant was SEC's remark that since the exchange's rule had not been effective, SEC would have to take over. Having thus prepared for a drag-out scrap Bill Douglas was surprised and pleased by the new exchange proposal. The Conway committee was made up of three exchange members, two nonmember partners and four outsiders, of whom one was New Dealer Adolf A. Berle Jr. and another, Publisher...
About three weeks ago, the ears of SEC Chairman William Orville Douglas tingled with pleasure when he received a telephone call from Partner George Whitney of J. P. Morgan & Co. Mr. Whitney informed him that vast ($236,000,000) United Corp. was finally willing to discuss registering with SEC under the utility holding company...
...that the system of subsidiary operating companies, pyramided to a peak in Wall Street, provides an irresistible chance to overcapitalize at the expense of stockholder and consumer. Hence, while Electric Bond & Share"undertook a major court battle against the holding company "death sentence," United presented seven successive plans to SEC, all designed to enable it to continue to exist in the form of an investment trust. Having turned all the plans down, SEC anticipated few friendly overtures. When these suddenly came from Mr. Whitney about the time that Franklin Roosevelt declared a truce between the New Deal and the utility...