Word: lynch
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...financial editor of the Dallas Morning News in the 1920s and 1930s-and later-I watched Merrill Lynch grow from a few docile dogies and mavericks in the small corral and then saw them emerge as the thundering herd. They are today a great aggregation and well deserve the spread TIME gave them...
...firm never really recovered. While some of the old partners spent 20 years or more honorably paying off their debts from the Kreuger fiasco, the reorganized firm could never rustle up enough cash for the computers and research staffs to compete with such giants as Merrill Lynch, Pierce, Fenner & Smith-or, on a somewhat smaller scale, Hayden, Stone. Says Hayden, Stone Chairman Alfred J. Coyle, they "couldn't make the costly effort we make in research-the only way a firm can supply the services customers want...
...their offices in the financial canyon of lower Manhattan, James Thomson and his Thundering Herd constantly ponder the possibilities of tomorrow, next month, next year and next decade. In their own expansion plans, Thomson & Co. are betting heavily on a bright market future. "The biggest problem facing Merrill Lynch right now," says Thomson, "is to be in a position to handle bigger volume when it comes. And we believe it is coming...
...office. He and Wife Dorothy, whom he married in 1927 after a courtship that began when a mutual friend introduced them on a commuter train, live in a shyly elegant ranch house in Westfield, N.J., an hour's trip by train and ferryboat from Wall Street. Thomson, in Merrill Lynch fashion, is an eager train-and evening-out bridge player; though he has a bent-armed swing, he plays golf in the low 80s, has certificates to prove that he has thrice scored holes in one. His two children, both grown and married, remain close to the marketing place...
...Year. To Thomson, investing in the market is no gamble, and he has statistics to prove his point. Under Merrill Lynch encouragement?to the tune of $400,000?the University of Chicago's Center for Research in Security Prices recently studied all stock-price changes since 1926, carried out 56,558,000 computerized transactions. Result: a long-term profit that varied according to tax bracket: a tax-exempt institution would have earned 9% per year on its investment since 1926; an individual in the $10,000-a-year bracket, 8.2%; and one in the $50,000-a-year bracket...