Word: stockings
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Dates: during 1920-1929
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Gardner D. Stout, third generation member of the Stock Exchange, paid $335,000 for his seat. Grandfather Joseph S. Stout paid $5,000 for his seat in 1872, four years after seats became salable. In 1871 a seat went for $2,750. Four Stouts have been members, Joseph S. from 1872 to 1904, Andrew Varick from 1899 until 1017, and his two sons Gardner D. and Andrew Varick Jr., now members...
Latterly great bond houses have trained up a generation of college bond saleswomen, who are always called "salesmen," who are always shouted at by the boss across a field of desks by their last names, and who smoke up the sales rooms. Seventeen ladies are actually partners in Stock Exchange houses. Three of them have applied to the Exchange authorities for admission to membership. "Too much jostling on the floor," the 15 gentlemen of the Committee on Admissions have always sternly replied. "No worse than subways or night-clubs," is the reply of the eager ladies...
Last week another woman, name of Peggy Cleary, applied for a seat on the New York Stock Exchange. Apparently she has the two major qualifications for admission to the most expensive and least exclusive club in the world: $375,000, and that firmness of jaw possessed by exquisite, merciless croupiers who rake chips on Monte Carlo's greens. Miss Peggy Cleary's training has been sound. She was and is a star customer's woman.* Last week 1,100 brokers at 20 posts applauded Miss Cleary's audacity. Next week 1,099 members may have a chance to "haze...
...customer's man (or woman) is the liaison officer between the customer and the Stock Exchange floor. His function is to tip, advise, caution, stimulate, warn customers, in other words to provoke trading and "produce" commissions...
That is the reason that rights to buy B.A.N.A. stock are not negotiable or transferable. That is the reason why the Bancitaly Corp., with earnings of $30,000,000 last year, has just now declared a quarterly dividend of only 56¢ on its stock. The dividend might have been many times that sum. But paternal Mr. Giannini wants to make it "difficult for speculators to borrow money on his stocks...