Word: etherington
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Dates: during 1960-1969
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...searching for a new face to give some depth to its public image, it chose as president George Keith Funston, then head of Trinity College. Last week the pendulum swung the other way when Connecticut's Wesleyan University announced that its new president will be Edwin Deacon Etherington, 41, president of the American Stock Exchange...
...trim 190 Ibs., Ted Etherington looks like central casting's image of a dynamic businessman. Son of a New York public accountant, he graduated from Wesleyan in 1948, taught English there for a year, then went on to Yale Law School. Etherington served for a year as clerk to a judge on the U.S. Court of Appeals, later went to work for a Wall Street law firm that specialized in investment problems. Eventually he moved on to serve as secretary and vice president of the Big Board under Funston. He was named head of Amex...
...Wesleyan, Etherington will take home much less than the $100,000 a year that he earns at Amex, but is so little worried about the loss of income that he hasn't even talked salary with the school's trustees. With an endowment exceeding $150 million, Wesleyan clearly picked Etherington for his executive rather than financial abilities, although, notes Trustee President Gilbert Clee, "No college seeking to be dynamic will ever have too much money...
...American-"stop orders," the device by which investors can automatically lessen losses by selling out when stocks drop to a pre-set figure, were ruled out. On some stocks (21 on the Big Board and 13 on Amex) special margin requirements were set. American Exchange President Edwin D. Etherington last week reminded investors that "it is important, at all times, for people who assess the potential rewards of sound investment to ponder as well the inherent risks of ill-advised or casual speculation." Everybody talked about the small investor, but Etherington seemed to be pointing as well at mutual, pension...
Amex President Edwin ("Ted") Etherington, who has successfully improved the exchange's once-tarnished image since he took over three years ago, called Smith's charges an "appallingly unjustified, unfair and inaccurate attack." Smith showed "a lack of understanding of the subjects involved," said Etherington, and exchange officers had unsuccessfully tried to explain to him how the specialist system works. At week's end Smith issued another attack on the specialist system, confirmed that he wants his stock to go back to the over-the-counter market, where there are no tours or free lunches but where...