Word: dealers
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Dates: during 1950-1959
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Something Added. In accordance with U.S. policy of auctioning off instead of carting away unwanted supplies, the Air Force last summer sold 40 tons of surplus airplane lubricating oil to a Casablanca dealer. The dealer then sold the oil to 25 cooking-oil merchants of Meknes, Fez and Casablanca, who posed as garage owners. The merchants mixed the bargain-price lubricating oil with olive oil in a 1-to-4 ratio that enabled them to boost by 75% their profit on the cheap cooking oil that the poorest Moroccan families use. Ready to cheat, if not perhaps intending what happened...
...indeed worked for the Vatican-for a short period more than 24 years ago on a guidebook. The Italian government, which keeps tab on its art experts, said that Citizen Porcella was not listed as a first-rate expert, or even as a second-rate one. A Chicago art dealer named Jack Shore, president of the Sheridan Galleries, proudly revealed that Porcella had authenticated half a dozen similar masterpieces for him in the past year (among them a "Leonardo"). All were restored by Zlatoff-Mirsky, whom Shore identified as "one of the great undiscovered American painters." Normally, these would...
Financier Allan P. Kirby, boss of Alleghany Corp. since the death of Robert R. Young almost two years ago, got a telephone call last week from another big moneyman. The caller: Boston's Abraham M. Sonnabend, the real estate wheeler-dealer who heads Hotel Corp. of America, Botany Industries, and a fistful of other companies. Could they set up a meeting some time later in the week? Kirby knew why. For months, Sonnabend and a group of associates had been quietly buying Alleghany stock, and they owned some 700,000 shares, or about 14% of the common stock outstanding...
...York Herald Tribune Wall Street reporter in 1933. Son of a Stroudsburg (Pa.) schoolteacher, Cub Kintner, a lean, spectacled Hall-of-Ivy type at the time, at first "didn't even know where Wall Street was." But he learned quickly. Though an ardent New Dealer and F.D.R. favorite, able Newsman Kintner developed and retained a high regard for big "business. For five years in Washington, he wrote a column, "The Capital Parade," in partnership with doom-crying Columnist Joseph Alsop ("Joe tended to destroy the world every time I was out of town"). After a wartime career in Army...
...long been among the most baffling to investors. Many market players shy away from the options, consider them as risky as a crap game. But that is just not so, says jaunty, white-haired Herbert Filer, 65, head of Filer, Schmidt & Co., the nation's largest stock option dealer. This week, in Understanding Put and Call Options (Crown; $3), the first book on the business to be published in the U.S., Filer presents a case for using options to reduce stock market risks as well as for speculating...