Word: sec
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Dates: during 1940-1949
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Owen Tudor's time for the 1½ miles: 2 min. 33 sec., four-fifths of a second faster than the established Derby record. But because it was made at Newmarket instead of Epsom Downs (a horseshoe course), Owen Tudor's time will not be listed as a Derby record...
...eight-year fight between the New Deal and Commonwealth & Southern Corp ended last week. The $1,143,160,279 holding-company system threw in the towel, announced it would comply with SEC's interpretation of the "death sentence" by integrating its sprawling system. To those who wondered how big holding companies could unscramble without destroying stockholder equities, the C. & S. plan was soothingly simple: pay off the C. & S. preferred by giving it common stock in subsidiaries to be dropped...
This week it looked as if preferred shareholders (not to mention SEC) might not O.K. this plan. Reason: in either "voluntary or involuntary liquidation or dissolution" the preferred is entitled to $100 par value plus accrued dividends. That gives C. & S. preferred a theoretical value of $119.50, almost twice the market price...
...Appointed director of the trading and exchange division of SEC, succeeding Commissioner Ganson Purcell, was James A. Treanor Jr., up from SEC's ranks. He practiced law in Boston until 1933, went to Washington in the NRA era, later directed FCC's telephone investigation...
United Corp. and J. P. Morgan. Therefore, said SEC, there was no "arm's-length bargaining" on the bond sale. The impounded money went to Dayton Power, and the bankers got nothing...