Word: brokering
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Dates: during 1940-1949
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...last week, Treanor had seen enough to act. He was not sure whether the boom in new stocks was caused by 1) the bull market (which brokers said it was), or 2) fiscal magic. If magic, he knew how the trick was worked. Many an issue was "sold out" early on the day of issue because underwriting firms and their broker-retailers had placed shares in the accounts of partners or employes, or in the firm's own trading account. When the public heard the issue was sold out, they were convinced it was a good buy, so they...
...power, in which Trotsky, despite his brilliance, proved the Tweedledumber. The clash of their personalities, all but inevitable, was implicit even in the antagonists' physical appearance. Trotsky, haranguing his troops, his outsize, intellectual, goateed head cocked above his flaring military coat, looked like a blend of a broker who has just made a killing on the Paris bourse and an actor from the Yiddish Art Theater. Stalin, with his low forehead, ferally cautious manner, soft but searching eyes (says Trotsky: "The jaundiced glint of his eyes impelled sensitive people to take notice"), might but for his size...
Where stood the U.S.? To many a U.S. citizen, to most of the world, the nation seemed to have shrunk farther & farther from responsibility in world affairs. Was it a great power, with a voice and a goal of its own-or just a nervous broker between an implacable Russia and an impoverished Britain...
...this, SEC suspended Van Alstyne Noel for ten days from the National Association of Security Dealers, Inc., in effect, barred it from underwriting for that period. Andy would have to find another broker. And Wall Streeters now might not be so eager to buy his stock...
Last week, the Securities & Exchange Commission dropped a wrench in Handy Andy's plans. It charged that Manhattan brokers Van Alstyne, Noel & Co., specifically David Van Alstyne Jr.*, had sold stock in Higgins, Inc., before its stock registration statement had been filed with SEC. If the charges are proved, SEC may revoke, or suspend the brokerage company's permit to deal in securities. If that happens, Andy Higgins may have to shop around for another broker...