Business: Otis Exonerated

Bitter and frequent is the complaint that the Securities & Exchange Commission tends to try its cases in newspapers before they are tried in courts. A crackdown from SEC begins with published charges based on what SEC "has reason to believe and does believe." Invariably the crackdown makes headlines, while the routine denial of the unhappy crack-downee is buried at the bottom of the column. Particularly irritated by this procedure because the firm was just getting on its feet after a severe Depression deflation was Otis & Co. Cyrus ("The Great") Eaton's...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!