Word: paperworks
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...banking, more than in most other lines of business, computers have freed employees from considerable drudgery by taking over routine paperwork and bookkeeping. Now the machines will begin to do much more important chores for many banks. The First National Bank of Atlanta, one of the South's largest, has started a computer service that could help hundreds of small bankers make higher-level management decisions...
Having sold the people on capitalism, the Big Board may now have to sell the capitalists on people. The surge in trading volume has swelled brokerage-house commissions, which many brokers have been more eager to pocket than to plow into necessary automation. Now, faced with a deluge of paperwork, they are taking the easy way out by turning down business from the small investor. So widespread is the move to eliminate the little man that President Robert Haack of the New York Stock Ex change, speaking to a group of civic leaders last week in Los Angeles, declared that...
Raising Doubts. The accusations hit Wall Street at a time when it is already awash in problems. The stock exchanges are battling the Government in defense of their lucrative but controversial system of fixed minimum commissions. As part of an eight-month effort to unsnarl the paperwork jam that has slowed brokers' back-office operations, the exchanges and over-the-counter market last week decided to remain on a four-day trading week throughout September. Beyond all that, the Merrill Lynch case is clearly Wall Street's newest, worst nightmare, if only because it is bound to raise...
Forbidden Sales. The shrinking volume gave Wall Street a breather to dig into its massive paperwork pileup. Despite Wednesday trading recesses, which will continue at least for the rest of the month, the problem of undelivered securities and accounting confusion remains so severe that two organizations last week took drastic steps to overcome it. Merrill Lynch, Pierce, Fenner & Smith, the largest U.S. securities firm, imposed a "house rule" forbidding its salesmen to sell over-the-counter stocks for customers unless they first have physical possession of the certificates involved. The National Association of Securities Dealers, a trade group which polices...
...dorms are better off than most because of the simplicity of installing the phones. On campus, the same cables and telephone number are assigned to a room over the years. Most of the work for reconnecting a phone can be done in the central office. Also, there is less paperwork. Since we are very short on personnel, this is important...