AMERICAN SECURITIES.
INVESTIGATION COMMITTEE. Received October 7, 2.20 p.m. WASHINGTON, Oct. 6. President Roosevelt has intimated that he will shortly appoint a committee to make an investigation into security exchanges throughout the country with a view to drafting legislation to place them under Federal control. One of the members of the proposed committee sa.id the activities would in no way conflict with the Pecora investigation ; instead, it would be a supplement, though functioning separately. Senator Couzens incidentally laid a charge before the Pecora committee today that “some wise guys had unloaded” 11,800,000 dollars of railway stocks during the boom of 1929 on the investment trusts organised by the Dillon Read Co. The railways in question later went into bankruptcy, involving huge losses through the depreciation of their stock.
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Manawatu Standard, Volume LIII, Issue 267, 9 October 1933, Page 2
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128AMERICAN SECURITIES. Manawatu Standard, Volume LIII, Issue 267, 9 October 1933, Page 2
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