Word: fenner
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Dates: during 1960-1969
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...meeting, Ontario Mines Minister G: C. Wardrope summoned Toronto reporters and confirmed the find. By 10:20, reporters at a Texas Gulf press conference in New York were phoning in their stories of the find. At 10:29, Merrill Lynch, Pierce, Fenner & Smith flashed the news to 140 of its branch offices...
...Chase Manhattan Bank, "that a voluntary approach was taken rather than a resort to rigid capital controls." Still, many businessmen found the program too vague, felt that it would be hard to expect voluntary restraint on investments abroad without firmer guidelines. Michael McCarthy, chairman of Merrill Lynch, Pierce, Fenner & Smith, suggested that the Government induce U.S. businessmen to bring more of their profits home by slashing the current 48% tax rate on such profits to the capital-gains level of 25%. Many bankers feel that the U.S. could best close its payments gap by raising domestic interest rates; such...
Next week, Merrill Lynch, Pierce, Fenner & Smith Inc., the nation's largest stockbrokers, will pay a record $9,700,000 cash bonus to 8,650 employees, 22% more than a year ago and an average of $1,121 each. Their checks will range from a flat $75 for employees with six months' to a year's service up to 14 weeks' pay for 20-year veterans. Elsewhere across the U.S., year-end fiscal cheer varies from the $10 Philadelphia Electric Co. gave its 9,300 nonexecutive workers to the average of $375 that Scio Pottery...
Four minutes after the new stock went on sale last week at $20 a share, its price jumped to $27. Brokers throughout the U.S. were swamped with calls for it, and buyers even lined up in Paris. The chief underwriter-Merrill Lynch, Pierce, Fenner & Smith-set up a bank of 32 Teletypes in Manhattan to take orders. In Washington, one sobbing woman asked whether she could sue a broker who claimed that he had no shares; in Houston, demand was ten times greater than the supply. Why the commotion? The federally sponsored
...little like Macy's acquiring Tiffany's. That great department store of U.S. finance, Manhattan's Merrill Lynch, Pierce, Fenner & Smith, last week took over the leading dealer in the highly sophisticated and eminently profitable market for Government securities, Wall Street's C. J. Devine & Co. The world's largest brokerage house thus got a solid hold on the only important part of the finance business in which it had not been represented. Says one Merrill Lynch vice president: "We knew nothing about the Government bond business...