Word: sec
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Dates: during 1940-1949
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...description of a holding company fits any investment house which directly or indirectly controls more than 10% of a utility's voting stock. Such a house feels the knout until: 1) it gets rid of its holdings; or 2) registers as a holding company, thereby submitting to SEC regulation, a penitential hair shirt which no investment banker wants to wear...
Until last week no U. S. underwriter has had to bare its back to SEC's holding-company lash. Soon after the Supreme Court upheld the registration provision of the act, Manhattan's Stone & Webster, Inc. divested itself of utilities securities (by giving its holdings to its stockholders) and settled back to its own business of construction, management and investment banking. International Paper & Power Co., no banker but a potent holder of utilities stock, woke up one morning to find that it might become a holding company. It finally escaped by turning over its shares of International Hydro...
...earnings came from Standard and 2) that it did not want to register as a holding company, Byllesby & Co. transferred its holdings in Standard to a voting trust. The trustees were three tried & true Byllesby men; all of them key Byllesby officers for years. Next day Byllesby & Co. asked SEC to rule that since Byllesby no longer controlled Standard it was exempt from the Holding Company Act. Later these three resigned, were replaced by two trustees having less obvious Byllesby connections, but to no avail...
...Swarthy President Lawrence Mario Giannini of Bank of America, who thinks Secretary of the Treasury Morgenthau is persecuting him, threatened that his institution would give up being a National bank, become a State bank unless Mr. Morgenthau quit hectoring him by sicking SEC...
...Class. Philology 50 Sever 29 Economics 121a Emerson D Engineering Science 12 Pierce 202 English 120a Sever 36 Fine Arts 9e Fogg Small Rm. French 21 Sever 29 Geography 4a Sever 18 Geography 10a Sever 24 Geology 2a Geol. Mus. 23B German E (see footnote*) Prof. Lieder, Sec. 1 Harvard 6 Dr. Howe, Sec. 2 Harvard 6 German 10 Sever 23 Government 19 Sever 18 Government 121a Sever 5 History 1 Mr. Berkowitz, Sec. 7, 12 Pre-Tutorial A, Conf. Group I Memorial Hall Mr. Billman, Sec. 18, 22 Pre-Tutorial B, Conf. Group II Memorial Hall Mr. Christopher, Sec...