Word: towbin
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...generally ignore it; the fees are hardly worth the effort. But last week a fledgling microwave-equipment company called F X R, Inc. made news with its new issue. It had taken its modest (200,000 shares) offering to an underwriting specialist as small as itself: C. E. Unterberg, Towbin Co., a two-man firm that operates a one-room office and has won itself a red-hot reputation introducing and making markets for midgets. So successful is the firm that on the F X R issue, a string of blue-ribbon houses-Lee Higginson Corp., Kuhn, Loeb & Co., Carl...
Second Stage. Unterberg, Towbin has had previous successes. In 1955 it engineered a Diners' Club stock issue that no one else wanted, brought it out at $8 a share. Current value: the equivalent of $86 a share. The two-man team handled Marquardt Aircraft Co. in 1952 at $15 a share; it is now worth $280 (counting stock dividends). While most of Unterberg, Towbin's companies are scientific or technical, it is not a venture capital firm in the sense that it sponsors new inventions. "We get in on the second stage," says Partner Clarence E. ("Dutch") Unterberg...
Start at the Bottom. Though they have been in business 26 years, it is only in the past several years that Unterberg, Towbin has won star billing. Manhattan-born Dutch Unterberg, 57, studied banking in Europe, started a one-man, over-the-counter firm in 1932, after the brokerage firm he was with dissolved. Brooklyn-born Partner Towbin, 48, went to Johns Hopkins University and the Harvard Business School, got a job with Unterberg at $11 a week...
According to his custom, Mr. Whiting will play on the pianoforte. He will be assisted by Mr. Cyril Towbin and Mr. Karl Kraeuter on violins, Mr. Nicolai Moldavan on the viola, Mr. Percy Such on the violincello, and Mr. Georges Grisez on the clarinet. All of these artists are members of the Music Art Society of New York...