Word: sec
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Dates: during 1960-1969
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...into the fees charged to stock investors, it began to look like a warm-under-the-collar summer for the New York and American Stock Exchanges. For the first time since such rates were devised in 1792, the markets must publicly defend a system of minimum commissions that the SEC contends is capricious and unfair...
...have decided not to try and justify," he said. Neither, he continued, would he attempt to "rationalize and defend" the Big Board's complex fee schedule, which is partly based on the number of shares and partly on the amount of money involved in a stock transaction. SEC Lawyer Eugene Rotberg nevertheless pressed him for reasons-and it became evident that the logic behind the fees is a bit baffling...
...American Exchange, said he was "very happy" to buy and sell for the funds for 30% to 50% of the prescribed minimum fee. "I don't want the full commission," he said. "I couldn't even count it all." A Question of Confidence. Though the SEC maintains it is not hunting for scandal, Wall Street always fears that hearings may cause a loss of public confidence in the securities market. Before the current inquiry winds up, the commission expects it to widen into the most comprehensive investigation of the stock exchanges in a generation. The SEC plans...
...three racing brothers (a fourth drives a bus), Dancer spotted Nevele Pride as a yearling on a Pennsylvania farm in 1966 and purchased the colt for $20,000. Last year the trotter won a record $222,923 and turned in the fastest mile clocking (1 min. 58 2/5 sec.) ever achieved by a juvenile. Dancer is carefully pointing toward the Hambletonian, the U.S.'s most prestigious trotting race, on Aug. 25; hence he has raced the horse only lightly. Even at that, the colt won all four of his starts and $106,886-$83,373 at Roosevelt last week...
...field of eleven-that forced Dancer to "take the overland route" and drive three-wide for the first half of the mile race. Though Dancer eased him up at the end, Nevele Pride won in a waltz. His victory margin was four lengths, and his time-2 min. 22/5 sec. -clipped a full second off the old stakes record. "Before he is through," predicts Driver Dancer, "this horse could rewrite the record book." The erasers are already busy...