Word: sec
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Dates: during 1950-1959
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...Recalled telling Adams in late 1955 or early 1956 that his real estate holding company, the East Boston Co., was "really being picked on" by the Securities and Exchange Commission, but denied that SEC pressure lessened as a result. Goldfine denied flatly and specifically that Sherman Adams had ever got him favorable treatment from Government agencies: "Mr. Chairman, I think you know Governor Adams is not that kind of man. And neither...
Contempt Charges? The SEC will argue its case against Wolfson in court Aug. 5. Meanwhile, Wolfson can cover his short position only at the risk of contempt proceedings, and any broker who aids him may face the same charge. If the short sales are not covered, he runs the risk of losing heavily if A.M.C. shares rise. At week's end American Motors Boss George Romney stepped in to clear the air, also gave one reason why the stock may well rise. American Motors had no way of knowing that Wolfson was disposing of his stock,* said Romney...
...Under SEC rules, shareholders are not obliged to report stock transactions unless they own 10% of the outstanding stock or are officers or directors of the firm...
...SEC charged that Trans Continental shares were being sold by telephone by high-pressure operators, with the claim that the stock would double in 30 to 60 days and that the company had a good profit position and would soon declare a substantial dividend. The truth of the matter, said SEC, is that the company has operated at a loss since 1955. It cannot pay dividends until it pays off $3,000,000 in loans. Furthermore, said SEC, substantial trading in the stock was being conducted by an unnamed "foreign source," which had pushed the stock from...
Trans Continental management denied any complicity in the selling, said it did not even know about it. One question the SEC may want answered as it investigates: Where did the high-pressure operators get their hands on a large enough chunk of stock to peddle...