Word: stocking
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Dates: during 1960-1960
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...books in which he keeps his transactions, he stands at his Post 13 on the floor each day, surrounded by brokers clamoring to buy and sell. On a typical morning last week, he had to spend $81,600 at the opening gong to buy 1,200 shares of Brunswick stock at 68 that nobody wanted. Later in the day the stock rose to 68¾, and Coleman sold some. But if the stock had gone down, Coleman would still have had to buy. To even up the odds, the specialist has privileges. Among them: he can trade on only...
COLEMAN learned his specialist's skills in the only way possible-on the job. The son of an Irish cop who had the Wall Street beat, Coleman quit high school after a year to go to work as a page boy at the New York Stock Exchange at 14, went to work as a broker at 21. At 22 he borrowed $81,000 from his employer, Specialist Edwin H. Stern, to buy a Stock Exchange seat, has been there ever since. He has been chairman of the exchange, has been a member of the exchange's board...
Stockholders of the Baltimore & Ohio Railroad were as popular last week as a fare cut to commuters. Three weeks ago the money-making Chesapeake & Ohio Railway offered to buy 80% of the B. & O.'s stock, and won the blessing of B. & O.'s management. Last week the New York Central Railroad, afraid of such a merger, which would create the second largest railroad in the U.S. and make competitive life hard for the Central, also made a move to woo B. & O. stockholders...
...said it wants to acquire 60% of the common stock...
...face of it, the Central's seemed the better offer: an exchange of 1½ shares of Central stock plus $9 in cash for each share of B. & O. common stock. Total value: $42.65. some $7 more than...