Word: firming
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Dates: during 1930-1939
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Died. Roland F. Knoedler, 76, retired art dealer; of lung congestion; in Paris. Born in New York, he made Knoedler & Co., his father's firm, one of the three most important (with Duveen Bros, and Durand-Ruel) in the U. S. He helped build the art collections of Andrew William Mellon, the late Peter A. B. Widener, William Kissam Vanderbilt, the late George Fisher Baker, Potter Palmer...
Harold Leonard Stuart was proud of N. W. Halsey & Co.'s record when he went to work for the firm. When he became its president on Banker Halsey's death in 1911 he was proud and jealous of the reputation of the new firm, Halsey, Stuart & Co. Now a white-haired banker of 51, he points with pride to his firm's vast clientele and to the fact that even during the boom it distributed no common stocks. While some of its issues "turned sour" it has maintained its reputation among its peers...
...Banker Stuart heard that the Blaine-made storm was about to break. In selling $13,500,000 worth of Wardman bonds the house had sold $200,000 in the Senator's home state, thus making possible a "use of the mails to defraud" charge. Anxious to protect his firm from the criticism which is aroused by any legal action, Mr. Stuart hurried to Washington, asked President Hoover to intervene. He was referred to Attorney General Mitchell who refused to act. Returning to Chicago, he prepared to face what he felt sure was a "frame-up," an action brought...
Straus Out. The proud and business-fetching boast of the big realty investment firm of S. W. Straus & Co. was "44 Years Without Loss to any Investor." But last year many a Straus-sponsored bond defaulted, huge losses piled upon Straus investors. Last week, charged with selling bonds on properties whose taxes were in default and first mortgages that were not first mortgages, the company was thrown into receivership. Special law applied was New York's Martin Act which defines fraud as "all deceitful practices contrary to the plain rules of common honesty." Said Justice Alfred V. Norton...
...revealed that red-haired Michael ("Mike") Meehan, specialist in Radio, was also in the Radio pool. Last week the Exchange lessened the chances of a specialist profiting through his knowledge by ruling that no specialist may participate in a pool in his special stock, nor may the firm to which he belongs. By use of the phrase "directly or indirectly" the Exchange can also prevent evasion of the rule by specialists who might participate in pools through their wife, cousin, stenographer or a dummy corporation. Some of the selling which came into the market last week was attributed to specialists...