Word: funston
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Dates: during 1960-1969
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...Manhattan last week, the board of governors of the New York Stock Exchange signed G. (for George) Keith Funston, 51, to his third five-year hitch as president of the Big Board and raised his salary from $100,000 a year to $125,000. It was Funston's first raise since he quit as president of Connecticut's Trinity College to head the exchange in 1951, and it still left him relatively low in the pecking order of high-salaried Americans. (General Motors has nine executives earning more than $350,000.) Considering the general decline in stock prices...
...bulls and bears grappled on Wall Street, the New York Stock Exchange added a reassuring name to its board of governors-Dr. Milton Stover Eisenhower, 62. Ike's younger brother, president of Johns Hopkins University in Baltimore, was named by Big Board President Keith Funston as the "prominent educator" that the 33-man board traditionally includes among its three public members. Past president of two other universities-Kansas State and Penn State-and veteran of a number of Government posts, including a special ambassadorship to Latin America, Milton Eisenhower also can claim financial accomplishments of his own. When...
...Warnings to small investors against heedless speculation, delivered by New York Stock Exchange President Keith Funston and others, have had some effect. But the disappointing performance of the growth-stock companies probably did as much as anything to deglamorize them. Many just did not live up to their great (but exaggerated) profit expectations. Transitron, which made its debut last year and quickly scaled to 60. is now down to 24 because 1960's black ink has turned to red. Pale profits in vending machines have sent Vendo down more than 50% from March's peak...
...money for its general investigation, but the question that bothers Wall Streeters is how the commission will ever find the time or the staff-even with $750,000-to handle so big a job. In his testimony before the subcommittee. New York Stock Exchange President Keith Funston argued that the heavily policed Big Board does not need probing and opposed any overall investigation. "We think it would be unwise," Funston said, "to direct the SEC to undertake broad new studies if these will divert its energy from the inquiries presently under way. It seems to us it is more important...
Some of the scrutinizing was being done by the keepers themselves. For the second time in two months, New York Stock Exchange President Keith Funston warned against "unwise speculation" in low-priced shares and new issues-speculation partly fueled by the highest level of market loans ($5.2 billion) since the beginning of the Great Depression. More worrisome for Wall Street was the announcement by a House of Representatives subcommittee that it planned to investigate both SEC and stock-exchange practices to decide whether investors need to be protected with tighter security laws. On top of that, SEC announced a full...