Word: fenner
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Thirty-five thousand dollars, of the $300,000-goal has been raised, according to Alan M. Fenner, the Association's local representative. The fund drive is scheduled to last three more years...
...Fenner expects slow progress in the future, due to a conflict with an overlapping drive by the Armenian General Benevolent Union. Both Fenner and Richard N. Frye, associate professor of Middle Eastern Studies, last night expressed hope that the Benevolent Union will contribute from $15,000 to $25,000 toward the chair...
...Wall Street expected, the 10.2 million shares of Ford stock put on sale for $64.50 by the Ford Foundation promptly "went out the window" on F-day. The seven syndicate managers (Blyth & Co., Inc.; First Boston Corp.; Goldman, Sachs & Co.; Kuhn, Loeb & Co.; Lehman Bros.; Merrill Lynch, Pierce, Fenner & Beane; White, Weld & Co.) each got 307,500 shares. But the 2,000 other firms that helped sell the issue got far less, sometimes as few as 1,500. Even giant Merrill Lynch could average only 9.7 shares per sale in its 114 offices...
...Macy & Co. after graduating from Harvard, became merchandise manager of inexpensive, ready-to-wear departments at 31. He quit to become a vice president of N. W. Ayer, left the agency to go to Safeway, in which his father-in-law, Charles Merrill, head of Merrill Lynch, Pierce, Fenner & Beane, had bought controlling interest. Magowan became assistant to President Warren after three years. In 1938 he left to join Merrill Lynch, where he directed advertising and sales promotion until he took charge of sales in 1948. Into the post of president of Safeway will go Milton L. Selby, 53, Safeway...
There is also evidence of a significant change in the kind of stocks small investors buy. Instead of snapping up low-priced cats and dogs, they are turning more towards the blue chips (the big investment trusts and M.I.P. usually buy only blue chips). Merrill Lynch, Pierce, Fenner & Beane, which sells more stock to small investors than anyone else, has another reason for their new shrewdness about the market. Thanks to a widespread educational campaign by Merrill Lynch and other brokers, small investors have no hesitation about going to a broker for the same information that was once available only...