Word: lynching
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Lewellyn paid for his stock by borrowing from five leading brokerage firms, including $3.1 million from Merrill Lynch and $16 million from Swiss American Securities, a unit of Zurich's Credit Suisse. He also reportedly misappropriated $2.8 million in Government securities from the First National Bank in Humboldt, where his father was president...
...addition, his wife Dena, 33, has charged her husband with desertion, and last week was named the temporary holder of his property. Merrill Lynch and Swiss American Securities also are suing the missing Lewellyn. In a final family humiliation, Lewellyn's father resigned from his bank, which has now been sold to the Hawkeye Bancorporation, a Des Moines bank holding company...
...boosting crop growth to treating cancer. Many were started with just a few million dollars in venture-capital funds and a handful of researchers. They are now finding that promised commercial developments are hard to achieve, and are running short of money. Says Industry Analyst David Paisley, a Merrill Lynch vice president: "What you are seeing now is a shakeout that will lead to the survival of the fittest...
...pushed back. The Reagan Administration first predicted that recovery would begin shortly after the start of 1982, then in the spring. Now the prevailing opinion among forecasters, both in the Government and private business, is midyear, and there are loud dissents. Robert Farrell, the leading stock watcher for Merrill Lynch, biggest of all brokerage firms, asserts bluntly: "The consensus that has the economy up in midyear and up in 1983 is wrong." Many investors appear to share his apprehension. The Dow Jones industrial average dropped 17 points last week to 807, its lowest close in 22 months, on some...
...should emerge within the next few months, when the new titans of socialized industry submit their four-year plans to the government. But in the wake of last week's reassuring appointments, few analysts expect any radical departures. Says Jacques Drossaert, a Paris-based vice president of Merrill Lynch International: "Many of the companies nationalized in the past were run just like private companies. To make a profit, they had to be. There won't be that much change this time either...