Word: firmly
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Dates: during 1960-1960
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...unbuilt Americana. He has no intention of running profitless operations. In only a year as Loew's chief stockholder (he served as chairman of the executive committee before becoming company chairman and chief executive last month), he has cut costs and improved business so much that the firm's earnings will be up 33% this year over last, to about $1 a share...
...hotel-motel field through Loew's. They had been large stockholders in Loew's Inc. before the court-ordered separation of the theater corporation in March 1959 made it a separate company. Early this year they got control (they now own 650,000 shares) of the theater firm...
...stock ticker stopped and 2,000 brokers and clerks stood silently while Chairman Edward C. Werle made an unhappy announcement. For the first time in 22 years the exchange, one of the nation's most exclusive clubs, was expelling a member for "fraudulent acts which endangered a member firm's financial position." The offender: Anton E. Homsey, 53, one of two partners in the Boston firm of DuPont, Homsey & Co. His offense was pledging an estimated $503,000 in securities belonging to three customers as collateral for loans without the customers' knowledge. The exchange's last...
Gerald Colby indicated that Homsey had negotiated the loans in order to buy stocks for his own account. Homsey was arrested last month (he is free on $10,000 bail), and his firm was suspended from the Boston, American and New York stock exchanges and placed in receivership. Among the assets: Homsey's exchange seat, which can be disposed of at the going price (about...
...need for new, and more, textbooks is sharpening the competitive search among publishers to find qualified scholars to write the new books. One publisher ruefully foresees the day when "every college professor will have his own agent,." Prentice-Hall President John Powers estimates that his firm has signed over 2,000 contracts for new textbooks in the past few years. But it has paid off: last week Powers announced that Prentice-Hall profits this year will be up 17% on sales of $50 million, with 1960's earnings to be 87? per share v. 74? last year. Another...