Word: toronto
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Dates: during 1930-1939
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This week after a four-day Easter holiday the Toronto Stock Exchange will re-open for business in a brand-new building, the most up-to-date trading floor in the world. Toronto likes to think of this new building as symbolizing not only the new importance of its mining mart but the coming of age of the Dominion's most boisterous industry. To mark this notable event with appropriate fanfare, President Harry Broughton Housser scheduled not one but two formal openings...
Born 52 years ago in Winnipeg, Broker Housser made a Dominion name as a hockey star, first at Toronto's swank St. Andrew's College, later at the University of Toronto and then on Toronto's old St. George hockey team, amateur champions. He got his business start in Massey-Harris (farm implements), shifted to brokerage, setting up his own firm, now H. B. Housser & Co., in 1917. For years he had been a power in Exchange affairs, took an active hand in negotiating the merger that really made Toronto a miners' mart, played...
...years ago H. B. Housser & Co. avoided mining issues like the plague. A director in such companies as Canada Foundries & Forgings and Stop & Shop Stores, Broker Housser found unspectacular industrials good enough to give him a city home on Warren Road, a country place in Thornhill, just outside Toronto. But with arrival of the mining boom, which has made speculation in Toronto as common a pastime as the cinema, H. B. Housser & Co. began to diversify. Harry Housser was one of the group which backed Kerr Addison, which in the past year went from a few cents a share...
...Pennies. Nearly one-third of the 500 issues listed on the Toronto Exchange sell below $5 per share and scores are below $1. It is these "penny stocks" that account for the huge share-volume run up in daily trading. Toronto had a 5,000,000-share day last year, and a 1,000,000-share day is poor business. It is also the "pennies" that give Toronto its peculiar flavor. Bay Street (Toronto's Wall Street) and the surrounding district are not unlike any financial district in smaller U. S. centres. There are a Childs and a Savarin...
Every runner in Bay Street knows the story of the fun-loving Toronto broker who bought 20,000 shares of Continental Kirland at one-eighth of a cent per share to send to his friends as Christmas cards in big denomination certificates. After he had mailed every last certificate, the stock suddenly bounced to 80? per share, a 640-fold appreciation...