Word: broker
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Dates: during 1960-1969
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Baltimore's pride is the team fielded by the Mt. Washington Club-an organization of old braves, some of whom have been out of college for ten years or more. The coach is a torts lawyer, the star attack man a 33-year-old insurance broker; there are also two stockbrokers on the squad. The club pays no salaries, awards no letters, has never even got around to hanging the framed team photographs in its red brick clubhouse five miles from downtown Baltimore. Practice scrimmages are studiedly informal: the losers buy the winners beer. "We just have a good...
Professors with a penchant for horse steak have had to go without for the last two weeks. The Faculty Club was to drop it from the menu when their New York meat broker announced that his source had run out. According to Charles L. Coulson, manager of the Faculty Club, horse heat is "mostly for cat and dog consumption, but during World War II when there was a meat shortage, it put on the menu, and it's been there since...
...Brooklyn-born son of a mortgage broker, DiLorenzo made his first deal at 17. He borrowed $1,100 to buy a brownstone, which he sold for $3,000. In 1951 he teamed with Goldman, a boyhood pal who was running a wholesale grocery for his ailing father, to buy a 600-unit apartment. DiLorenzo considers it merely "human nature" that his rapid rise led the Government to scrutinize his activities a few years ago. "I had four FBI men following me for some time," he says with a smile. "But they dropped the investigations." Now DiLorenzo and Goldman...
With the new IBM Market Data System, the process will be this: when an .investor calls in to ask for a stock quote, the broker can press a button on the base of his telephone and automatically connect into a computer at the exchange. He will then dial a four-digit number to identify which stock he wants to learn about (each of the 1,606 stocks on the Big Board has its own identification number). A recorded voice will instantaneously recite the stock's up-to-the-second price and volume, as well as its opening price...
...only of the growing use of computers in American business but of the increasing automation in the stock market. Funston also hopes to automate trading in odd lots-fewer than 100 shares-which account for one-fifth of daily volume. When an investor places a small order, the broker will feed the information into a computer, which will execute the order at prices ⅛ to ¼ of a point above (buying) or below (selling) the most recent round-lot trade...