Word: fenner
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...suit in federal court to break it up. Three of the country's largest mutual funds were named as defendants. So were the National Association of Securities Dealers, many of whose 4,200 broker members act as fund agents, and nine major brokerage houses, including Merrill Lynch, Pierce, Fenner & Smith, Bache & Co. and Paine, Webber, Jackson & Curtis...
...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...