Word: broker
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Four minutes after the new stock went on sale last week at $20 a share, its price jumped to $27. Brokers throughout the U.S. were swamped with calls for it, and buyers even lined up in Paris. The chief underwriter-Merrill Lynch, Pierce, Fenner & Smith-set up a bank of 32 Teletypes in Manhattan to take orders. In Washington, one sobbing woman asked whether she could sue a broker who claimed that he had no shares; in Houston, demand was ten times greater than the supply. Why the commotion? The federally sponsored
...year profitmaker by luring away stars from other studios, made a further killing by selling old movies to TV, later gained control of Skiatron, which pioneered pay TV, and finally went international in 1948 by persuading the newborn Republic of Indonesia to make him its U.S. trade broker, a deal involving $150 million a year before it collapsed in 1950; of a heart attack; in Manhattan...
...Quote system, built by Teleregister Corp. of Stamford, Conn., is based on a relatively simple computer that records all the figures reported from the floor of the exchange and holds them available for questioning. From the broker's telephone, an extra line runs to the computer. After pressing a button to activate the line, the broker merely dials the code numbers of the stock in which he is interested. In a second the computer answers in a toneless but pleasant voice. It repeats the stock's code letters, then gives the latest information-the bid price, the high...
...engineer who could speak with the necessary clarity. Then the words were recorded on a revolving magnetic drum. What the computer does is to extract the latest quotations from its continually refurbished memory, translate them into the proper words taken from the drum, and transmit them to the listening broker over the telephone line. It makes no mistakes, never gets tired, and costs $100 per month...
...time of the expropriation decree, the sugar had already been sold to a U.S. commodity broker, Farr, Whitlock & Co., but C.A.V. had not yet received payment. Before the Castro authorities would let the ship clear Cuban waters, Farr, Whitlock had to agree to pay the Cuban government for the sugar. Later on, after the cargo was delivered to its destination in Morocco, Farr, Whitlock found itself confronted with two insistent claimants. The Castro government, acting through a New York agent, demanded its money. So did the surviving corporate shell of C.A.V...