Word: schram
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...current big bull market has made the time again ripe for stock-splitting. So many corporations have done so, or plan to, that Emil Schram, the Stock Exchange's cautious, conservative president, last week spoke out. Worried lest such tactics bring down tighter governmental regulations, he warned against stock-splitting by corporations whose securities are temporarily high-priced, but which have no stable earnings record. The Exchange may refuse to list such split shares...
...sinful for stock prices to rise for four consecutive years? Last week Emil Schram, once chairman of the Reconstruction Finance Corp., now president of the New York Stock Ex change, took a fall out of those beaters of anti-inflation drums (such as Marriner Stoddard Eccles) who want to balk rising stock prices by increasing the present 25% capital gains tax. He told the Bond Club of Philadelphia that...
...point Schram urged the Government to step in. Since war began, thousands of well-heeled European refugees are said to have made untaxed millions by speculating in stocks and real estate. Schram urged that such refugees should be taxed, the same as U.S. citizens. Fact is, however, that refugees in the U.S. on visitors' permits are legally subject to the same taxes as citizens-if they in fact reside in the U.S. If some of them have got away without paying, the Bureau of Internal Revenue has been negligent...
...brusque summary brought a pained letter of protest from Stock Exchange President Emil Schram. He reminded the Commission that the Exchange had been studying the floor-trading problem along with SEC, asked for a full hearing from the four Commissioners at which the Exchange could offer less drastic cures...
President Schram's warning closed the barn door a little late: rumors had already touched off a buying spree in low-priced auto shares. Through the grapevine from Detroit poured an endless cackle of tips and gossip as the auto industry jockeyed for postwar position. Biggest whoppers from the gossip mill last week concerned the future of the four Fisher brothers (TIME, Aug. 14). The dope had it that the Fishers were going to: 1) buy aging Henry Ford's titanic empire; or 2) buy control of three or four smaller companies and merge these into one automaker...