Word: funston
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...president of the New York Stock Exchange for 15 years, G. Keith Funston always insisted that Big Board corporations promptly report significant changes in management. Living up to the letter of that rule last week was the Olin Mathieson Chemical Corp., whose messengers appeared promptly and simultaneously at wire services, publications and TV networks to pass the word that the company's new chairman would be none other than G. Keith Funston, 56, who is retiring from the Exchange when his present contract runs out in September...
...speech before the American Football Coaches Association in Hous ton, the New York Stock Exchange's retiring president, Keith Funston, 56. did a bit of recruiting for the bulls and the bears. "The values so essential to success on the gridiron are highly prized in business," Funston evangelized, inviting the nation's college-football players to try out for slots in the securities business. Like ideal businessmen, he said, football players are possessed of self-confidence, imagination, leadership and competitive spirit. Funston had better watch out. As a rule, the lads are also big and mean and pretty...
...Keith Funston, President, New York Stock Exchange...
...Funston has been much more than that. Besides plugging stock ownership and introducing the monthly investment plan for small shareholders, he raised the number of listed companies from 1,100 to 1,300. This increase, plus the great expansion in trading and a number of operational efficiencies introduced by Funston, put the exchange's activities into the profit column after years of losses. He invested heavily in automation to increase the speed and accuracy of transactions, helped persuade listed companies to release more informative reports to shareholders, and forced companies to make every common stock a voting stock. When...
Like the market itself, Funston has had his downs as well as ups. Insiders complain that he failed to strengthen his spotty staff and that he had a chip on his shoulder in dealing with the Securities and Exchange Commission. Relations were much smoother between the SEC and American Stock Exchange President Edwin D. Etherington who, before he accepted the presidency of Wesleyan University this summer, was the favored choice to follow Funston...