Word: sec
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Dates: during 1940-1949
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Free Play. The Securities & Exchange Commission finally published the results of its exhaustive inquiry into the causes of last fall's sharp break in the stockmarket. There was no evidence, said the report, that manipulators were to blame. In fact, said SEC, the drop of 10½ points last Sept. 3 was the result of no more than "the free play of different opinions as to when to buy and when to sell...
...calculated by a complicated formula involving length, sail area, etc.; and Chubasco had a small handicap. More than ten hours later, Morgan's Dolphin II sailed past Diamond Head, the winner. Corrected time (after subtracting more than two days' handicap): 11 days 1 hr. 3 min. 59 sec.-a new record...
...return, Tucker promised Karsten 10% of the class B promotional stock, a distributorship in Southern California, and a monthly salary of $2,000 until Tucker started delivering cars. To camouflage payments to him, said SEC, Tucker overpaid a public-relations firm which kicked back some of the money to Karsten...
...SEC also said...
...SEC's concern was not shared by another Government agency, WAA. For ten months Tucker has had a provisional lease on the Dodge plant, subject only to his ability to show WAA $15 million in cash on July 1, as proof that he was in a position to make cars. Tucker was unable to meet the deadline. WAA last week postponed the deadline to Nov. 1, the third such extension...