Word: sec
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Dates: during 1940-1949
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...defined by SEC, "floor trading is buying or selling by a member for his own account which is initiated by the member while he is physically on the exchange floor." But no matter how defined, SEC has never liked it, refuses to concede that floor traders' deals often tend to smooth out violent price swings. As far back as June 1936, SEC threatened complete suppression of floor trading, later relented. Last week the Commission announced that it was readying a rule to prohibit floor trading altogether...
...SEC pegged its latest attack to a report of its investigation of last summer's flurry in low priced stocks like Graham-Paige Motor Corp. (TIME, Aug. 21, 1944). Said SEC: "At times floor traders were the proximate cause . . . in the sense that a spark in a powder magazine is the proximate cause of the explosion...
While recognizing that rumors from Detroit sharpened public interest in Graham-Paige, the SEC report charged first responsibility to the floor trader. "Floor traders and specialists would buy heavily and concertedly; the public would follow . . . and the professionals would sell their stock . . . at the increased prices...
Plotted Energy. Before he donned the cloth, Boston fans got one final look at the Flying Parson in motion. He gave his schoolboy rivals handicaps up to 90 yds. in the Boston Y.M.C.A. twomile, then won going away in slow time (9 min. 58.4 sec...
...yard dash--Won by C. Wharton (H); second, Harwood (E); third, Markum (E). Time--4.7 sec. 1000 yard run--Won by C. Robbins (H); second, V. Moriarty (H), third, C. Atwell (H). Time--2 min. 27 4-10 sec. 300 yard dash--Won by C. Wharton (H); second, Clark (E); tie for third between R. Mannix (H) and R. Clark (H). Time--34 6-10 sec. 600 yard run--Tie for first between M. Tuttle (H) and H. De Fries (H); third, Hamblett (E). Time--1 min., 19 sec. Shot put--Won by J. Tootell (H); second, P. Harwood...