Word: stocked
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Dates: during 1940-1949
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Somewhere, the Sun. Few men have their roots deeper in their own country than Henry Agard Wallace. If there is such a thing as "authentically American" stock...
...head and principal builder is dapper, soft-spoken Charles Allen Jr. (45), who has learned the tricks of his trade during 30 years in Wall Street. Born in New York, the third of seven children, Charlie Allen quit school at 15 to become a runner for the New York Stock Exchange, worked as clerk in a Wall Street house. When he was 19, he knew enough to start his own business as an over-the-counter dealer in unlisted securities. When his brothers Herbert, now 40, and Harold, now 37, had served their apprenticeships in the Street they joined...
Allen got into the buying of companies in the early depression when large blocks of stock were for sale at bargain prices. He pooh-poohs elaborate research before he buys, prides himself on his hunches, snap judgments and untiring hunt for bargains. As a friend put it: "He's a 24-hour man and born with a feel...
...company was one of the underwriting syndicate, along with Cyrus Eaton's Otis & Co., which promised to float the third Kaiser-Frazer stock issue. When Eaton called off the deal (TIME, May 3), Allen stuck to his word, handed K-F a check for some $2,500,000, ready to take the loss. (K-F later returned the check...
...owns Big Business? Not big businessmen, says the current issue of the magazine, Trusts and Estates. In a survey of the 120 biggest U.S. manufacturing companies (total assets: $51,041,000,000), the magazine found only four in which any individual owned as much as 10% of the voting stock. The 120 companies were owned by 6,126,713 stockholders, almost 40% more than the total number of employees...