Word: fenner
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...Harris ran into stormy weather with the board. About 25% of Northwest's common stock is owned by Wertheim & Co., or held for customers of two New York brokerage firms, Merrill Lynch, Pierce, Fenner & Beane, and Carl M. Loeb, Rhoades & Co. They have a tight grip on the board. But Harris felt they were less interested in long-range plans than in the quick resumption of dividend payments that would increase the market value of their common stock. To the board's distress, the stock sank lower under Harris, from 14½ in January 1953 to a year...
Leading Labor's attack was a pale, impassioned Bevanite named Archibald Fenner Brockway, son of an African missionary. Staring across the House at Lyttelton, he invoked Oliver Cromwell's terrible injunction to the Long Parliament: "You have sat too long here for any good you have been doing. Depart, I say, and let us have done with you. In the name of God, go!" Though the House was dissatisfied with Lyttelton, these strong words went...
...months ago, prodded by Congress, GAP put Schering up for sale. Last week it was sold to the highest bidder, brokerage firms Merrill Lynch, Pierce, Fenner & Beane, Kidder, Peabody & Co., and Drexel & Co., who had joined with more than 70 other investment houses to make the bid. Price: $29,131,960. The high price surprised Wall Street, since Schering stock has a book value of about $26 a share, against the syndicate's bid of about $66. This week the syndicate is splitting the 440,000 shares four to one, will put them in the market at $17.50 each...
Merrill Lynch, Pierce, Fenner & Beane, the biggest U.S. stockbroker, likes Wheaties. It took ads this spring in 90 U.S. newspapers ("We like Wheaties because") to explain why. In running a $50,000 contest, Wheaties' maker, General Mills Inc., had decided to pay the winners in stocks. Not to be outdone, General Mills took ads of its own, announcing that Merrill Lynch would advise the winners on what to buy, and General Mills will pick up the tab for the commission. Thus both firms hoped to spread the public's interest in ownership of U.S. industry...
...world's biggest brokerage firm, Merrill Lynch, Pierce, Fenner & Beane is a good barometer to show how many "little fellows" and new investors are in the stock market. Last week, when Merrill Lynch totted up its 1950 earnings, the barometer reading was clear: new investors had come into 1950's bull market in such a big way that Merrill Lynch's net income shot up to a record $12.5 million -more than five times last year's. Merrill Lynch's 86 participating partners split a net profit (after taxes...