Word: stocked
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Dates: during 1960-1969
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Whatever they may be worth on the market, stock certificates have always had a certain value just hanging on the wall. Christmas shoppers have been known to frame a particularly handsome, ornately engraved share of stock for the man who has everything. Unfortunately, the beauty of certificates lies only in the eye of the holder. To those who buy, sell and keep them in trust, they are a constant headache...
...only are the large sheets difficult to file, but every time a broker places a buy or sell order, the actual certificates must be sorted out manually and delivered to the buyer by messenger. Because stocks have no uniformly accepted identification numbers, a single issue may be assigned one number by the issuing corporation, a second by the broker who is selling, and a third by the broker who is buying. Such hoary habits, coupled with an unprecedented volume in trading, have created so much paper work that the nation's stock exchanges have been forced to close down...
...ketchup "until it runs out of my ears"? The answer can be found in this week's cover story. Such offbeat and often unexpected bits of information can be found in almost every section of the magazine, in almost every issue. A sampling from this week's stock...
Hughes's tender offer to buy 2,000,000 shares in the TV-radio network and theater chain at $74.25 per share was made July 1 when they traded for $58.88. The bundle would have amounted to 39% of outstanding stock and would have presumably led to a shake-up of management and operations of the company, whose TV network lost $17 million last year. ABC management fought the takeover bid, asking for a court injunction and a hearing by the Federal Communications Commission...
Merger still seems virtually certain; the question is when and with whom. President Goldenson, who prefers a stock swap that would be tax free, had already started preliminary talks with C.I.T. Finance Corp. over the July 4 weekend. Such talks could now resume...