Word: stockly
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Dates: during 1950-1959
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Trans Continental management denied any complicity in the selling, said it did not even know about it. One question the SEC may want answered as it investigates: Where did the high-pressure operators get their hands on a large enough chunk of stock to peddle...
...trails last week jounced a task force of clay-spattered, green-and-yellow jeeps, carrying as incongruous a crew as ever penetrated the steaming wilderness. They were securities salesmen, hardy young men carrying briefcases, who were on their way to sell a 208 million-cruzeiro ($1.6 million) issue of stock in Willys Overland do Brasil to back-country natives who had never even heard of Wall Street...
Sign the Mayor. Dauphinot left Kidder in 1946 and formed Deltec S.A. in Rio de Janeiro. Initial capitalization: about $2,500. His first deal was to sell a 15,000,000 cruzeiro ($750,000) stock issue for an American & Foreign Power Co. subsidiary. With a sales crew of 25, Dauphinot began a door-to-door selling campaign. But after six months, only about half the issue had been sold, and all but one salesman had quit. The undaunted survivor, Paulo Quartin, son of a Brazilian diplomat, doggedly kept at the job and succeeded, by year's end, in selling...
Dauphinot sold a new American & Foreign Power issue, took on the job of selling stock of other companies. He found that often the trick was to get the most prominent citizen in a village to buy. For example, when the mayor in one town bought, 17 others lined up to buy. Soon Dauphinot branched out more, became Brazil's most active stock underwriter, was doing business in New York, Colombia and Venezuela. All told, Deltec has sold stock to some 50,000 Brazilians, 80% of whom, Dauphinot estimates, had never owned stock before. The buyers put their money into...
Dividends: 25%. Most Deltec issues have paid the average Brazilian dividend or better-10%-25% of par value plus stock splits. Though its expenses are high, Deltec has found the operation profitable. The fees for underwriting a stock issue in Brazil average 15%-20% of the value of the issue (U.S. average...