Word: sec
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Dates: during 1940-1949
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...active stocks on the Big Board, and held steady at about 7 points, despite the company's report of a $724,000 loss for the six months ending Oct. 31. Last week a New York Stock Exchange clerk looked over a registration statement which Farnsworth had filed with SEC for a new stock issue of 270,000 shares. He noticed something odd. It showed a loss of $3,100,000 for the six months. The Exchange suspended trading in the stock for an hour, to give Farnsworth a chance to explain...
...sec. after its motors started, the massive little aircraft reached 23,000 ft. While climbing, it rose at an average of 13,800 ft. a minute. The best jet-propelled fighters climb at about 10,000 ft. a minute...
Hara-Kiri. The Commonwealth & Southern Corp., the public utility holding company once bossed by the late Wendell Willkie, has been under SEC's "death sentence" since 1940. Last week SEC approved C. & S.'s plan to dissolve itself. Holders of C. & S.'s 1,441,247 shares of preferred stock will receive cash and stock in subsidiary companies worth between $106 and $111 per preferred share. Holders of 33,673,328 shares of common stock will get what's left, from $4.50 to $5.25 per share in stock. Holders of C. & S. stock option warrants will...
After nine months of investigation, the Securities & Exchange Commission shelved its attempt to revoke the securities trading license of Cyrus Eaton's Otis & Co. SEC had little choice. It had hoped to prove that Otis & Co. had fraudulently wriggled out of a deal to underwrite a $10 million issue of Kaiser-Frazer stock. But the only way it could do so.was by proving that Otis & Co. had put Lawyer James Masterson up to filing the suit against K-F which had enabled Otis to call off the deal. Last month, a U.S. district court ruled that Eaton...
...million. Without this set aside, the profit increase over 1947's third quarter would have been closer to 70%. Similarly, high costs were forcing many another big or growing company to apply more profits to reserves (even though the net working capital of U.S. corporations, as reported by SEC last week, reached a record high of $63.9 billion at the end of the second quarter...