Word: brokering
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...with their Moslem compatriots into Jordan during the Arab-Israeli war of 1948, abandoning profitable businesses. There, Saba Salti slowly re-established his construction supply stores and was able to send his pretty daughter Nadia to college in Beirut. Theodore Stephan moved on from Jordan, became a prosperous insurance broker, and sent his son Stepho to the American University in Beirut...
Died. Burton Holmes, 88, lecturer, globetrotter, film maker, autobiographer (The World Is Mine), who in 1904 coined the word travelogue; in Hollywood. Son of a Chicago grain broker, Holmes became a world traveler in his teens, spent 55 summers abroad, circled Sputnik-like around the world, gave more than 8,000 film-illustrated lectures, formed an accurate picture of the world for millions of Americans in the leisurely years before radio and the airliner. "I am not an explorer," said Holmes. "The South Pole belongs to Byrd and Amundsen, and they can have it." He filled his Manhattan apartment with...
...offshoots of the world economic boom is an international boom in real estate. From Rhodesia to Rochester, land shoppers are clamoring for attractive parcels of property. Only ten years ago Switzerland was the only European country in which a foreign broker could easily do business in real estate; today, firmer currencies have made the task much easier -and tremendously profitable. The firm that stands to benefit most by the boom is Manhattan's Previews, Inc., the world's only international clearinghouse for real estate, and an experienced dealer in both the exotic and the practical...
...Jersey) or turn his farm into a tourist paradise, Previews' approach is the same. Previews gets 1½% of the asking price for handling a property on a three-year contract, advertises it with attractive brochures, often distributed to as many as 5,000 other brokers. When the property is sold, Previews picks up another 2½%. The local broker also gets a commission...
Contempt Charges? The SEC will argue its case against Wolfson in court Aug. 5. Meanwhile, Wolfson can cover his short position only at the risk of contempt proceedings, and any broker who aids him may face the same charge. If the short sales are not covered, he runs the risk of losing heavily if A.M.C. shares rise. At week's end American Motors Boss George Romney stepped in to clear the air, also gave one reason why the stock may well rise. American Motors had no way of knowing that Wolfson was disposing of his stock,* said Romney...