Word: fenner
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Dates: during 1970-1979
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...competitors in the brokerage business, Merrill Lynch, Pierce. Fenner & Smith must often seem as overwhelming as the herd of stampeding bulls in its now famous television commercial. It dominates the securities field with its widespread distribution system, geared to serve the needs of small investors. It has moved so vigorously into Government-bond trading, commodities, real estate, mutual funds and even economic consulting that such non-stock-market ventures account for more than half of its revenues. Now Merrill Lynch has thundered into the lead on the financial world's most exclusive turf: investment banking...
...Died. George Angus Garrett, 83, wealthy Washingtonian who was the first U.S. Ambassador to Ireland; of a heart attack; in Washington, D.C. A partner in the firm of Merrill Lynch, Pierce, Fenner & Smith from 1940 to his retirement in 1959, Garrett was also a prominent capital host and fund raiser for philanthropic causes. Harry Truman selected him to head the U.S. legation in Dublin in 1947, then promoted him in 1950 when the mission was raised to embassy status. Garrett resigned in 1951, later championed urban redevelopment in Washington as boss of the Federal City Council...
...market. Dubuque, Iowa's weekly Antique Trader, for example, regularly carries at least 15 pages devoted to the fad; a recent issue listed such hot items as Ezra Brooks' Big Bertha ($25), Beam's Gold Fox ($95), Dr. Seth Arnold's cough killer ($2), Dr. Fenner's Kidney & Backache Cure ($14) and a (misspelled) bottle of Kalamasoo heavy blob soda ($9.50). Of the moderns, Avon cologne and perfume bottles are most popular; an International Avon Collectors organization, headquartered in Mesa, Ariz., informs members of new issues. Novice collectors can seek guidance in books like Collecting...
...surge of trading has roused fears that Wall Street may again be heading into a repetition of the paperwork snarl that overwhelmed brokers from 1967 to 1969. Chairman Donald T. Regan of Merrill Lynch, Pierce, Fenner & Smith last week urged that brokerage houses be prohibited through quotas from accepting more trades than they can process without delay. Recognizing the danger signs, the New York Stock Exchange last week ordered one medium-sized firm to limit the volume of its business...
...investment houses were summoned, on an hour's notice, to an emergency meeting in the exchange's dark-paneled board room. President Robert Haack told them they had to come up with some salvage plan or face a major crisis. By process of elimination, Merrill Lynch, Pierce, Fenner & Smith, by far the biggest U.S. brokerage, was selected as savior. Clifford Michel, managing partner of Loeb, Rhoades, explains: "One strong, viable firm had to take over, and Merrill Lynch was the only one that had the capital, the muscle and the talent...