Word: sec
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Dates: during 1930-1939
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Haled before the Securities & Exchange Commission in Washington last week was President Walter Clark Teagle of Standard Oil of New Jersey. Not afoul of SEC was the country's biggest oil company. The Commission merely wanted Mr. Teagle to answer a question which he himself had asked in a letter to Frederick H. Bedford Jr., a working Standard director: Why did Standard "happen to be so directly interested" in a protective committee for defaulted bonds of the Republic of Colombia...
...Sec. 5. (a) Any member of the Council who is put on probation by the College for any reason will automatically lose his membership in the Council, and will not regain his membership under any circumstances...
...hawky face intent upon SEC's hardboiled young lawyers, 63-year-old Mr. Williams affably admitted las't week that he had "influence on the management" of North American Co., North American Light & Power, Pacific Gas & Electric, Northern Natural Gas, Detroit Edison, United Light & Power, American Water Works. After 1929 the astringent years which wiped out many a man of wealth merely shrank Mr. Williams' fortune from fabulous to big. He retained his 400-ft. yacht, the Warrior; his houses, his leisure for travels almost as continuous as those of his wife, his interest in oceanography which...
Meanwhile Shenandoah and Blue Ridge corporations, the two investment companies which Mr. Williams and Waddill Catchings had put together in 1929, were on their way to the limbo from which Floyd Odium later plucked them (TIME, April 24, 1933). It was for background information on these that SEC had called Mr. Williams. When Attorney Smith persisted in asking if the Williams "empire" was not greater in 1935 than in 1929, he apparently used a word very annoying to his smiling witness. Said Mr. Williams sharply...
...stores), while Walgreen concentrates in the Midwest. In 1932 United was eager to merge with Walgreen but was turned down, and next year the Liggett-controlled chains went through bankruptcy. Walgreen prospered during Depression, even expanded. Last week, to furnish working capital for further expansion, Walgreen Co. filed with SEC a recapitalization plan approved three days prior by the stockholders which provides for issuance of $10,000,000 of new 4½% preferred stock...