Word: firming
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Dates: during 1930-1939
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...biggest firm of racetrack book makers in the world is Douglas Stuart Ltd., which employs 400 clerks in its entirely legal offices at Stuart House, Shaftesbury Avenue, London. Douglas Stuart, whose motto is "Duggie Never Owes" is not a person but a syndicate. Busiest member of the syndicate is breezy, dapper, dark-haired Sidney Freeman, who once worked with Novelist Edgar Wallace on a South African newspaper, and who would "rather trust an English bricklayer than a foreign nobleman," in the matter of bets. For the last three years. Bookmaker Freeman has been coming...
...Exchange Act carried a rider liberalizing the Securities Act. While the amendments by no means completely satisfied bankers & businessmen. Eustace Seligman of the great Manhattan law firm of Sullivan & Cromwell declared that Congress had met 80% of the objections. Included were amendments to: 1) reduce the statute of limitation in civil suits from ten to three years; 2) permit a defendant officer, director or underwriter to show that factors other than errors or omissions in the registration statement caused loss; 3) require a plaintiff seeking damages for losses to prove that he relied on the errors or omissions (with certain...
...lately arranged to transfer what little remains of its securities organization to First of Boston Corp., divorced affiliate of Boston's First National Bank. Many of the old executives who went to Chase with its purchase of Harris, Forbes in 1930 have already departed to form their own firm. Dissolution of City Co. and Guaranty Co. produced two alliances which may vastly alter the Wall Street map when the investment business recovers...
...other alliance was concluded between Edward B. Smith & Co. and Guaranty Co. President Joseph R. Swan, old time Yale footballer, and three other Guaranty officers will become Smith partners. i and the firm will move into the Guaranty ! offices, take over most of the Guaranty organization. In the even course of Smith affairs, entry of the Guaranty partners was ! expected to produce startling changes. Founded in Philadelphia some 40 years ago by the late Edward Brinton Smith, railroad banker, the firm grew slowly until after the i War. Then under a group of young Manhattan partners headed by John Wilson...
August discovers that he is not so poor as he thought. With a windfall in his lap he neglects to keep the necessary firm grip on his skittish character. He falls ridiculously in love, squanders his money on a grandiose scheme, and finally meets an appropriate but not altogether tragic fate. His author's verdict on him is stern but not unkindly: "It was his mission in life to father all forms of progress and development, and he had left behind him desolation in one form or another wherever he had gone. He was ignorant and therefore innocent...