Word: gerstley
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...brokers' "back offices," where batteries of clerks clear transactions and update customer accounts. When the surge in trading volume turned into a tidal wave, a number of understaffed brokerages were soon trying to explain delays and trying to do something about botched paperwork. At Philadelphia's small Gerstley, Sunstein & Co., Partner Thomas McCann is finding that staffers who have been putting in 15-hour stints "can't do this day after day without a degree of fatigue and a rising incidence of errors." At Manhattan's big Bache & Co., Vice President William Carey says that...
...also being carefully researched for use in new plastics with high-temperature melting point, in atomic energy (since they absorb neutrons, some boron compounds can be used as reactor shields), in fire-retardant additives for plastics and paints, in new steel alloys. Says U.S. Borax President James M. Gerstley: "Unless the past reverses itself completely, we have to expect that the demand will at least double again in the next ten years...
...Broke. Poor financing did what the elements could not, and by 1888 Coleman was bankrupt. Borax Smith took over Coleman's mining properties, consolidated all his mines into the Pacific Coast Borax Co. and, to boost European sales, merged with a British chemical company headed by James Gerstley, father of present U.S. Borax President Gerstley. But Smith also overextended himself, also went broke. To pay creditors, he was forced to sell out his stock to Gerstley and other Britons with holdings in the new company, which eventually became known as Borax (Holdings) Ltd. Domination of U.S. borax mining passed...
Because U.S. Borax's expansion will not hit its full stride before the company's fiscal year ends in September, President Gerstley foresees earnings for this year "about the same" as last year's $1.47 a share-a healthy 13.5% on its net sales. But he expects to step them up in the future, has set up a $1,000,000 research center to discover more uses for boron. To make sure that he can provide the borax, he planned the present expansion so that production can easily be stepped up another 25% to 50% for only...
...Gerstley reported him to the Yard police after checking with other residents of C-entry and finding discrepancies in McGowan's story. The $16 was given back to the original donors...