Word: sec
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Dates: during 1940-1949
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...Fiscal Agent Myers spotted another Nebraska prospect. The SEC had ordered the dissolution of holding-company American Power & Light Co., which meant that it would have to sell its subsidiary Nebraska Power. Omaha's civic bigwigs, led by Henry Doorly, publisher of Omaha's World-Herald, and Nebraska Power officials (who hoped thus to keep their jobs) tried to buy. At first this looked easy. They had no trouble getting enabling legislation from the state legislature. But suddenly the power company opened fire on the legislation it had ostensibly supported...
...William Hedlund, 45, had just committed suicide at his home in Summit, N.J. Associates said he was a "war casualty"; Engineer Hedlund had worked himself (15 hours a day) into a sick, despairing man, while he boosted company production by $17 million in a year. A few hours later SEC, acting under powers never before used, suspended trading for ten days in the company's bonds, preferred stock, and its New York Stock Exchange listed common...
...SEC order was issued for reasons other than Hedlund's death. Several weeks ago the company began discussions with SEC on the deterioration of its position. At the same time, SEC began to watch with interest the behavior of the company's securities. The bonds had slipped from 100 to under 90, and the common dropped from a high of 15¼ to 11⅜. Company officials approved the suspension as a sound move to protect security holders from losses generated by rumors, and held an all-day session in an effort to cut expenses and find...
...week's end, the company filed with SEC the required updating of its January 1944 prospects. It showed what can happen to war babies when war orders drop. Because of cutbacks and previous overbuying by customers, demand for self-locking nuts fell sharply during the second half of 1944. The company that earned $1,084,381 in the first six months sustained a net loss during August, September and October of $200,000. But company officials believe a profit can still be shown on the full year...
...more than the Dionnes at first weighing), each was handed to an assistant, who put the infant in an incubator. Mrs. Cirminello, who had been told she would have twins, was surprised. Mr. Cirminello, an SEC analyst, who knew all along it would be quadruplets, was haggard...