As a war baby, Globe Aircraft Corp. grew fast. In three war years it built $18.5 million worth of trainer planes for the Army. Its first plant was a converted barn near Fort Worth. At war's end, Globe felt strong enough to venture into the peacetime market with a small civilian plane, the Swift. It floated a $1.5 million stock issue, at $10 a share, to help finance it. Nine months ago, when the small-plane market hit stormy weather. Globe crashed.
Last week, with a great to-do over the wreckage, SEC suspended the "effectiveness" of Globe's stock registration statement....
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