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Most experts agree that SEC, under Chairman J. Sinclair Armstrong, does a competent job in the main areas of responsibility outlined by Congress in the Securities Act of 1933. Such evils as rigged markets have disappeared, and Wall Street, which once fought bitterly against Government interference, now stands solidly behind SEC's work. Backed by strict laws, SEC makes sure that all new issues by listed corporations are accompanied by registration statements giving enough financial information to investors...

Author: /time Magazine | Title: Business: THE SEC IS UNEQUAL TO THE JOB | 7/16/1956 | See Source »

...citizens (including T.R.) that good food could turn to poison. One such educator was a testy Department of Agriculture chemist. Dr. Harvey Washington ("Old Borax") Wiley, who got a volunteer "poison squad" to eat spoiling food, triumphantly proved that it made them miserably sick. In The Jungle, Muckraker Upton Sinclair rubbed the nation's nose in the filth of Chicago packing plants. On June 30, 1906, Teddy Roosevelt rode to the Capitol and ceremoniously signed the first U.S. Food and Drugs Act, to protect the people's stomach from willful or careless poisoning...

Author: /time Magazine | Title: Medicine: There Ought to Be a Law | 7/9/1956 | See Source »

...biggest public works program since the Pharaohs piled up the Pyramids will help the economy for another generation. Before the signature of President Eisenhower was dry on the highway construction bill, Commerce Secretary Sinclair Weeks announced the allocation to the states of $1,125,000,000 in federal funds for the first year. The Associated General Contractors predicted that $100 million in construction contracts will be let by state highway departments within the next two months. Another $300 million in contracts is expected before the year is out. The bill, which raised taxes on gasoline a penny a gallon...

Author: /time Magazine | Title: Business: The Great Road | 7/9/1956 | See Source »

...Republic was run by "kept idealists," and the Nation was staffed "by men and women who were suffering the change of life." Mencken's high jinks masked low insight, according to Angoff, and Mencken never fully understood even the writers he championed, e.g., Dreiser, Sherwood Anderson, Sinclair Lewis. He thought Henry James "was an idiot, and a Boston idiot to boot, than which there is nothing lower in the world, eh?" F. Scott Fitzgerald's The Great Gatsby was "poor stuff." Said Mencken of Hemingway: "The man can't write. Just...

Author: /time Magazine | Title: Books: Mencken Redivivus | 7/2/1956 | See Source »

...Sinclair Weeks, industrialist, now Secretary of Commerce LL.D...

Author: /time Magazine | Title: Education: Kudos, Jun. 25, 1956 | 6/25/1956 | See Source »

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