Word: sec
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Dates: during 1940-1949
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...only four times in 42 starts. Then, as the crowning achievement of a storybook career, the patched-up cripple, after a year's retirement, came back last March to win the $100,000 Santa Anita Handicap, won it in the record- breaking time of 2 min., 1⅓ sec., and boosted his lifetime winnings to $437,730, highest in turf history...
World's record for the 100-yd. dash, without snowshoes: 9.4 sec...
...financiers have focused their fears on its Section u, the so-called "death sentence." Question was just how literally this section would force "scatterated" holding companies to break up and reintegrate their properties. The Government postponed the issue by making its first court fight on a harmless clause. Then SEC postponed the integration problem, began asking the companies to submit plans only last year. Most of the plans submitted chose to interpret Section 11 the easiest way. Last week SEC published the first Section 11 blueprint of its own. United Gas Improvement Co., whose system it was designed to integrate...
Section 11 states that holding companies shall limit their operations to "a single integrated public-utility system." What this means to U. G. I., according to the SEC blueprint, is that it may keep the electric properties of its Pennsylvania-Delaware-Maryland system, will have to get rid of its gas and other properties, including unconsolidated investments (valued at $128,600,000) in other utilities. If the integration goes through as blueprinted, U. G. I. will cast off dominions which produced over...
Regardless of whether the blueprint stands up, its publication made clear that SEC takes Section n literally. It also opened the way for a court test if U. G. I. wants one (the company hinted that it did). Vogueishly invoking national defense to buttress the ruling, SEChairman Jerome Frank explained his commission's broad objectives: "Power for national defense industries must come, in most instances, from hundreds of private operating utility companies which are presently under the control of a handful of holding companies, mostly located in large eastern financial centres. Efficient operation . . . requires an intimate . . . knowledge...