Word: sec
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Dates: during 1940-1949
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...eyed, 180-lb. Alfred Diebolt, Colgate junior: the 440-yd. race of New York's Metropolitan A.A.U. track & field championships; in 46.9 sec., fastest quarter-mile in its 50-year history; at Triborough Stadium, New York City. Young Diebolt, son of a onetime Colgate track star, lost his right eye in an auto accident when...
...there were more cogent reasons than pure diplomacy for including neutral nations in the order. This was clear from an SEC report to Congress earlier last week. After four years of study, SEC admitted it could not discover who controlled the American I. G. Chemical Corp. originally sponsored by I. G. Farbenindustrie, but since 1939 called General Aniline & Film (textiles, dyes, Agfa Ansco camera equipment). SEC revealed that the original U.S. directors of the firm, including Standard Oil of New Jersey's Walter Teagle, had no idea who controlled it either. The trail ended in Switzerland, where a number...
Last week a big worm turned in Wall Street. Underwriters Morgan Stanley & Co. haled SEC into court, demanded that it reverse its Dayton Power decision and return $90,844 in underwriting fees...
Back to private law practice last week went handsome, cigar-eating David Schenker, head of SEC's investment-trust division. A fixture in Washington since SEC began, able Dave Schenker was counted out for a Commissioner's seat after he got on the wrong side of a couple of political fights...
This particular phase of Wall Street's long fray with SEC started in February 1940, when Morgan Stanley agreed to let SEC "impound" the fees due them on a Dayton Power Co. bond issue, until SEC made sure the bankers were no "affiliate" of the utility. At the time, this seemed like a mere formality to Morgan Stanley; they certainly were not affiliated with Dayton Power, the money was just as good as theirs. But it wasn't. Last April (TIME, April 14) SEC (in what Morgan Stanley termed a "fantasy") declared Morgan Stanley was a Dayton Power...