Word: broker
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Dates: during 1960-1969
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...unshriven sins. The trouble is that restless Lincoln is a job jumper-he has headed four corporations in the past decade. Is he a phony? Lincoln Lord himself is not sufficiently introspective to consider the problem, and this is his great strength. When things are looking black as a broker's Mercedes, he wangles the presidency of a small cannery, and his wife chides herself for ever having thought him weak. "This was the real man, the man she had fallen in love with, the man she had married...
After he retired in 1948, Stillings' hotel room grew more cluttered with company reports and market letters. Every so often he rode to New York on his lifetime train pass to visit his broker; sometimes he traveled all the way to Florida to look at real estate. And ten years ago the University of New Hampshire, where Stillings graduated in 1900, got an idea of what the old alumnus was up to. He gave the university a small scholarship fund of $200 a year for one student "of good scholastic ability, sound character and unquestioned loyalty...
...expense money and hand over 60,000 "free" shares and 20,000 warrants to its underwriters in order to raise $480,000 of new money -a suspiciously large underwriting commission. To create the appearance of great public interest, promoters sold stock through boiler-room operations, also arranged with cooperating brokers to buy shares, offering to purchase them at cost plus a 1/16-to 1/4-point profit for the broker. Seeing the stock rise, other brokers jumped in, began trading. All told, the SEC discovered, some 190 firms bought and sold Oreclone shares, either as principals or brokers...
...more. The times and the people "demand a vigorous proponent of the national interest-not a passive broker for conflicting private interests. They demand a man capable of acting as the Commander-in-Chief of the grand alliance, not merely a bookkeeper who feels that his work is done when the numbers on the balance sheet come out even. They demand that he be the head of a responsible party, not rise so far above politics as to be invisible...
...week's biggest worry was over tight money; interest rates were edging up all along the line. Led by C.I.T., the big finance companies hiked their rates on commercial borrowing; New York banks boosted the rate they charge on broker-dealer stock market loans by ½% to 5½%. The U.S. Treasury, in its weekly rollover of $2 billion in short-term debt, had to pay a record 5.099% on one 182-day offering. Another dampening effect was the prospect of an increase in the 4% discount rate that the Federal Reserve charges member banks...