Word: tnec
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...becoming conspicuous as the only big holders of investment capital not under regulation by the U. S. Investment trusts' turn is coming soon if Congress adopts the recommendations now being readied by SEC. And the unwilling march of insurance to Federal regulation may have begun last week when TNEC (monopoly committee) reopened its insurance hearings...
Last week earnest Ernest Howe sat down before TNEC with a 322-page book on his knees, an array of charts alongside him. The book was his survey of the 26 largest of the U. S.'s 306 life insurance companies (selected for study because all had assets above $125,000,000;, and its long tables were filled with figures furnished by the companies themselves at SEC's request. From book and chart Witness Howe began to testify. Excerpts...
...spread it farther & wider through the Middle West, sold out to Insull in 1926. In 1929 he returned to the power business by buying into the Byllesby system's Standard Power & Light. An associate in this foray was famed International Banker Albert Loewenstein, who (Emanuel intimated before the TNEC last month) was readying a plan to grab control of a large cut of the U. S. public utility industry when he dropped out of a transport plane into the English Channel...
...head to one side and narrowing his eyes, the president of the firm which usually makes 35% of the nation's steel ingots is given to saying that the corporation ought to get a price high enough to cover costs. Last week, to explain prices to the TNEC, Ben Fairless produced an expert, University of Chicago Statistics Professor Theodore Ott Yntema. Substance of sharp-eyed, youthful Expert Yntema's very technical mathematical-metaphysical testimony: the corporation is burdened with large inflexible costs; steel sales do not rise in proportion as the price falls; therefore, price cuts reckon without...
...provoked this matter. ... I am perfectly willing and happy to receive the letter." While Leon Henderson glowered, Witness Stanley handed out his attack on compulsory competitive bidding, which he and other investment brokers can see as a likely outgrowth of SEC's investigation. Next day it led the TNEC story in metropolitan newspapers. The Morgan Stanley thesis...