Word: lynching
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Dates: during 1960-1969
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...Bache & Co. Inc., which stands second in size ($90 million gross) to Merrill Lynch, Pierce, Fenner & Smith ($227 million) among U.S.'s brokerage firms, desks are decorated with a motto of the house: "Learn to listen." The man that Bache's 5,000 employees are expected to listen to most intently is Chairman Harold L. Bache, 71, whose granduncle founded the firm 87 years ago. Last week, after Bache President Adrian C. ("Ace") Israel, 50, suddenly resigned because of "a basic disagreement over corporate policy," Wall Streeters were saying that the real reason was that Israel had found...
...good one to hold; Bache's growth rate is even faster than Merrill Lynch's, and the company recently distinguished itself by raising $270 million to underwrite the Manhattan Fund started by China-born Financier Gerald Tsai Jr. Bache gained new strength by becoming a corporation; most of its 70 partners immediately became vice presidents with correspondingly high salaries plus better tax breaks and such employee benefits as pensions. The corporation no longer has to worry about a principal problem of partnership: substantial sums of money being pulled out suddenly after a partner's death. Bache...
Senior Tony Lynch tore across the 60-yard high hurdlers in 7.2, setting a Heps record and tying his Harvard mark set at the IC4A's the week before. Fellow senior Pardee won the high jump at 6 ft., 10 1/4 in., also a University record, and sophomore Steve Schoonover soared 14 ft., 4 in. in the pole vault...
...they prepare for their Puerto Rico trip coming in a week, the trackmen still have large gaps in their ranks. They need back-up sprinters for Andersen and Lynch, more depth in the javelin, broad jump, and the hop-skin and jump. Their early meets should be easy--they start off on April 16 against Brown--but they face an incredibly fired-up Army in the Outdoor Heps...
...almost immediate result, Merrill Lynch, Pierce, Fenner & Smith boosted its rates for margin loans from 6½% to 6¾% for small investors and from 5¾% to 6% for big ones. Most important, from Wall Street's viewpoint, tight money has made bonds more attractive than at any time since 1921. Many a $1,000-par medium-grade corporate bond is selling close to $900 and yielding about 6% ; some tax-free municipal bonds pay interest of 4%, which is as good as an 8% stock dividend return to an investor in a high-tax bracket. The current...