Word: sec
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Dates: during 1940-1940
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...when you wrote that article in TIME, March 18, titled "Innocent in Wall Street," in which you mentioned the ad in the Wall Street Journal in which I advertised for a partner with $15,000 to help me dig a well and me getting in a mess with the SEC...
...simple arithmetic justified the British in calling the German bombers' boast of sinking a battleship "fantastic." Greatest terminal velocity ever achieved by an air bomb of best design is 700 ft. sec. That is about half the striking speed of a 12-inch armor-piercing coast guard rifle shell at close range. But air bombs are not armor-piercing. They explode on contact. To reach a Queen Elizabeth magazine from between the forward turrets (extremely lucky hit), a bomb would have to penetrate one unarmored deck, one 2-inch armor deck, another 1¼-inch armor deck, another...
...when, in a famous proxy fight, he came out of retirement to oust Elisha Walker (now of Kuhn, Loeb) from the chairmanship of Transamerica Corp., which controls 495-branched Bank of America, fourth largest U. S. bank. His quarrel with the New Deal began in 1938. Late that year SEC, threatening to delist its stock, charged that Transamerica's registration statement contained "false and misleading statements." Old A. P., a born battler, haled SEC to court. While still there, SEC bit him again. Bank of America was accused of helping Timetrust, an investing company which owns Bank of America...
...though SEC were not enough, A. P. also joined battle with the Secretary of the Treasury, his pet hate. In September 1938, just before meeting, the directors of Bank of America got a telegram from the U. S. Comptroller of the Currency, one of whose jobs is to watch the capital-deposit ratios of national banks. The telegram threatened to cite the directors to the Federal Reserve Board if they declared the bank's regular dividend. A. P. and his directors defiantly declared it, have continued to ever since. Blaming Walker for telling secrets to SEC, blaming Morgenthau...
...SEC regional director in Atlanta announced that the complaints had come from several sources, that they concerned both State and national 1938 campaigns in Georgia. Knowing Georgians, wondering who put a fire under Uncle George, looked sideways at Atlanta's energetic U. S. District Attorney Lawrence Camp, who failed to defeat Senator George in 1938. Mr. Camp averred, with a convincing air, that he was not the informer. Gossiping Crackers then remembered that their Governor Eurith Dickinson Rivers has at least two unremitting foes: 1) Secretary of the Interior Harold Ickes, whom the Governor recently outsmarted...