Word: brokering
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...Cadillac," reported Police Chief Leo Trudeau. "They had one price for the motel and one for the use of the Cadillac, but they stayed on just long enough to do a fast business, and moved on before we got to them." Busiest of the boom enterprises is a broker's office (a branch of a Toronto firm), where residents have begun dab bling with growing enthusiasm in the stock market. One staff geologist at Pronto has made $100,000 tax-free in two months investing in uranium stock, and the town is full of taxi drivers, store clerks...
Once a profit was in sight, Crowell-Collier President Smith set to work to bring in badly needed new capital. He laid his financial problem before Manhattan Broker Edward L. Elliott, who found him a group of 26 big investors, including Chicago Financier J. Patrick Lannan (see BUSINESS). The Elliott group agreed to buy $3,000,000 worth of new Crowell-Collier debentures, convertible to 600,000 common stock shares (at $5 a share). It also took an option to buy half the 400,000 shares (26% of outstanding stock) held by the late Joseph Knapp's Publication Corp...
News from a Broker. Bill W., a former Wall Street broker and surviving co-founder of A.A., argued that it was time for a permanent guiding body within the organization to take over from the elder statesmen, and the delegates agreed by ratifying a charter with a 15-member board of trustees. He also noted a switch in emphasis: now that its fame is widespread, A.A. gets more and more alcoholics (about half its new members) who have not yet sunk out of social respectability into Skid Row obscurity, who have had little or no experience with delirium, hospitals...
Trouble Ahead? How high will the market go? Last week it was possible to get all shades of opinion on Wall Street. One broker even predicted that the Dow-Jones industrials would hit 1,000. But some brokers lifted warning fingers. Stock prices have been going up so high and so fast that dividend rates have not been keeping pace. Traditionally, brokers start to worry when yields of stocks and bonds get close. They fear that many investors, discouraged by comparatively low stock yields will start shifting from stocks to safer bonds, possibly touching off a major decline in stock...
...white-striped symbol of unity flown by Calvinists in seven northern provinces of The Netherlands during the revolt against Spain that began in 1568. This theory, based on 16th to 18th century paintings as well as written records, is the work of Lawrence Phelps Tower, a Wall Street broker who once made a business of tracking down obscure paintings for art galleries, and who for the last ten years has been national secretary of the U.S. Flag Foundation...