Word: bondsalesman
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...Every bondsalesman knows that few investors (except professional security buyers) ever read even the few material facts in the old one-page prospectus. Today a prospectus for a big corporative issue contains 50 or 60 pages of facts. ¶ Lately the Senate asked the Federal Trade Commission to investigate monopolistic tendencies under the Steel Code. Last week in a 70-page report the Commission said that the Steel Code did indeed foster monopoly. It struck at the domination of the Code Authority by a handful of big producers, flayed the price-fixing provisions. Particularly obnoxious to the Commission was restoration...
Interesting as were these disclosures to Chicagoans, even more interesting was the connection of Marshall Field III, grandson of The Founder, to the deal. Born in 1893, Field III has been a soldier, newspaper reporter, bondsalesman, but aside from being a trustee of the estate, has had no hand in the management of the store. Nine years ago he took part in the formation of Marshall Field, Glore, Ward & Co., now Field, Glore & Co., potent Chicago banking house, with an office also in New York. Educated at Eton and Cambridge, he spends most of his time far from Chicago...
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