Word: investors
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Dates: during 1950-1959
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...Securities Exchange Commission, which questioned the sources of his tip-stering several years ago, but retreated when Winchell pleaded "freedom of the press," is not officially concerned with his latest interest. Winchell has assured the SEC that he does not receive payment for giving advice. But many an amateur investor who followed his advice would have been better off if he had stayed away from his radio or TV set. Sample Winchell tips...
...Stock Exchange reported that short interest had risen 158,477 shares in a month to a 22-year high of 2,722,944 by the middle of February. However, many of those who sold stocks short were merely protecting profits until the present clouded outlook clears. For example, an investor with a paper profit in a stock sells it short. If the stock falls, the loss is made up by his gain on its short sale...
...attract small investors and money that is now going into savings accounts, the New York Stock Exchange last week began selling stocks on a monthly (or quarterly) buy-on-your-budget basis. Under the plan, promoted by Exchange President Keith Funston, the investor signs up to pay his broker a definite sum (from $40 to $999) every month or every quarter. The customer is credited with as many shares and fractions of shares as his money can buy (less the regular commission of up to 6%). Stockholders will earn dividends even on their fractions of shares, but will have voting...
...orange juice at Government House, Colonial Secretary Lyttelton came close to endorsing their view. "It is quite clear," he said, "that any modern form of franchise here would mean Europeans being swamped by African voters. That would mean a complete arrest of progress ... at worst a reversal. The oversea investor would be chary of risking his money. If we stand still, we get constitutional arthritis and risk losing the cooperation of the African - and his labor." His solution appeared to be a vague hope that "something constitutionally exotic" would turn up to enable the white minority to keep its head...
...estate deal that was even harder to follow. Yankee Owners Dan Topping and Del Webb sold Yankee Stadium (but not the ball club) for $3,600,000 in cash, and took back a $2,900,000 mortgage and a long-term lease. The buyer: a syndicate headed by Chicago Investor Arnold Johnson, 46, vice chairman of Automatic Canteen Co. of America (of which Topping is also a director) and director of the Chicago Black Hawks hockey team...