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Coupon Clipping Season on Wall Street Reveals Quiet Behemoth
A detailed portrait of Wall Street’s coupon clipping for bond interest shows the Mutual Life Insurance Company processing about 50 million dollars of bonds each January and July. Six clerks clip roughly 500 bonds per hour, aided by a 190 ton vault and a veteran cashier, as tickets worth millions are prepared for cashing and transfer.
MENTIONED IN THIS ARTICLE
Wall Street
Life Insurance
Mutual Life
Mutual
William P. Sands
Sands
Bulding
Treasury Department
Grand Jury
Western Insurance