Word: schram
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...grass-roots campaign to bring Main Street to Wall Street, the Stock Exchange itself was launching a $500,000 advertising campaign. Its theme was that those with small incomes should buy stocks in the same regular way they buy insurance. Said New York Stock Exchange President Emil Schram: "An investor can buy any number of shares on the Stock Exchange-i, 10, 14, 20, or more-and such orders are welcomed by our member firms and given just as much attention as 100 shares...
Because there was no need for it in the golden '20s and no point to it in the depressed '30s, Wall Streeters stopped ringing doorbells. They just sat at their desks, did business over the phone. But last week New York Stock Exchange President Emil Schram thought it was time for the Exchange to try to "sell" the market out of its slump. Schram wanted to "interest the public to buy securities regularly as a means of producing income, much as they have learned to purchase life insurance as a means of protection...
...face of these checks and dampers, Stock Exchange President Emil Schram, a onetime New Dealer with a deep-seated fear of wild speculation, was "not so sure this is anything more than a flurry." The diehards who were clinging to their bearish positions hoped he was right. Broker John H. Lewis, who had been one of the first to see the 1946 bear trend, was still seeing the market in a cold grey light. But he confessed that he was lonely. "Until a few weeks ago I had a lot of company," he said. "Now, I'm about...
...public. They had some pious arguments in favor of it: a big bull market, for one thing, would not only fatten brokers' commissions, but would permit industry to raise some of the capital, through stock issues, that it badly needs for expansion. One simple recipe, favored by both Schram and Truslow to attract more investors: cut margins...
...them hadn't even suspected that they had any unionists on their staffs. Actually, they had only a few. At Hutton, only 18 of 325 employees walked out. It looked as if Dave Keefe faced a long and probably a losing fight. Said Stock Exchange President Emil Schram: "We are prepared to function indefinitely ... we have lots of help on the floor...