Word: stocking
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1960
Sort By: most recent first
(reverse)
...usually bustling floor of the New York Stock Exchange one morning last week, the 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...
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...
...that point, according to the 168-year-old practice of the New York Stock Exchange, its responsibilities have always ended-unlike the practice of the London Stock Exchange, which has a fund to protect customers of its members against loss because of fraud. But this time the exchange issued a precedent-setting statement. Said Exchange President Keith Funston: "The New York Stock Exchange feels that its moral responsibilities to these investors are not ended with the act of expulsion." He hinted that the exchange itself might make up financial losses suffered by Homsey customers, "particularly those of modest means...
...book publishing industry., traditionally a tight little shelf of tweedy pipe-smokers for whom Wall Street was a subway stop and profits a slight source of bemusement, today fairly bustles with talk of mergers, stock splits and diversification. The reason: the boom in textbooks for the burgeoning U.S. school population, which is lifting many a once staid, privately owned publishing house into the heady world of big business. Last week two large, old-line publishers announced mergers aimed at increasing their share of the new textbook market...
...public," says Random House President Bennett Cerf. "They go around waving certified checks in publishers' faces-and I've never seen a publisher yet that could resist a certified check." Ran dom House could not resist, put some 222,060 shares of its stock on sale last October for 11¼. It was eagerly snapped up, now sells for about $31. Harcourt, Brace stock first went on the market last summer at 23½, is selling at about 27. The stock of Scott, Foresman and Co., biggest publisher of elementary school texts, goes on sale this fall...