Stock brokers scrutinized after teen buys 200000 in stock
A 19-year-old college student used phone orders to acquire about 200000 dollars of stock with no cash down. Six brokerage houses faced scrutiny by the NYSE and the SEC over how he obtained accounts and if proper funds and procedures were followed. Treff, who started college courses in Philadelphia, said he phoned 25 firms and was turned down by 19 while six firms pursued investigations into possible misrepresentations and lax funding.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Abraham Hi Treff
Philadelphia
Washington
Securities and Exchange Commission
Treff
Lee D. Arming
Big Board
St. Joiseph’s College
Mer Jran
Rill Lynch
Pierce, Fenner
Smith
Car Safety Feature Costs To Raise New Car Prices
Government approval lets GM Ford American Motors and Chrysler raise 1972 list prices to cover mandatory safety equipment such as seat belts warning systems emission controls and bumpers The increases vary by maker with GM about 1.2 percent and Ford about 1.07 percent while Chrysler and AMC receive smaller boosts The action follows prior clearance to reflect higher costs and imposes no new hikes unless special circumstances arise Separately construction firms urge a Justice Department probe into the Construction Industry Stabilization Committee chaired by Harvard professor John T Dunlop
MENTIONED IN THIS ARTICLE
Washington
Price Commission
General Motors
Ford
American Motors
Chrysler Corp
Justice Department
Joseph S. LaMonaca
Associated Builders and Contractors Inc
Cost of Living Council
Construction Industry Stabilization Committee
Harvard
John T. Dunlop
Colorado Professor Calls Automation a Total Fraud
University of Colorado economist Dr. Kenneth Boulding told Wright State University on Wednesday that computers are a fraud and automation shows little productivity gain. He cited modest output increases since 1967 and noted biology as a key recent scientific advance while warning of limited human life impact beyond easier airline reservations.
MENTIONED IN THIS ARTICLE
Dayton, Ohio
Kenneth Boulding
University of Colorado
Wright State University
Boulding
Wright State
Also Mentioned on This Page
Aurming
Merrill Lynch
Pierce, Fenner & Smith
Reynolds Securities Inc
Palme, Weber, Jackson & Curtis
White, Weld & Co
Weis, Voisin & Co. Inc
Yarnall, Biddle & Co
Ralph Nader
Stock Exchange
Colorado
American Legion
Charlie Lowman
S$. Main ST
Td Bed
H. University Blvd
Mion
Mediterranean
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