Regulation of the Stock Exchange; Hearings Sixty-Third Congress, Second Session, on S. 3895, a Bill to Prevent the Use of the Mails and of the Telegraph and Telephone in Furtherance of Fraudulent and Harmful Transactions on Stock

Regulation of the Stock Exchange; Hearings Sixty-Third Congress, Second Session, on S. 3895, a Bill to Prevent the Use of the Mails and of the Telegraph and Telephone in Furtherance of Fraudulent and Harmful Transactions on Stock

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914 edition. Excerpt: ...of stock or 100 shares of stock in that corporation without going to somebody to get permission seems to me to be the limit of pateralism. Mr. Untermyer. In other countries, like England, they would throw a man out of the company who speculates in his own stock. Senator Weeks. Do you think that is true? Mr. Untermyer. Yes; I am very familiar with the procedure over there. They would not tolerate it a minute. Senator Weeks. I am comparatively familiar with it, and I do not think that is a correct statement at all. Mr. Untermyer. I think it is a very correct statement. I never heard of stock being handled by insiders as is done in our country. Senator Weeks. That is a very different thing--" as is done in our country." Mr. Untermyer. I have here. Mr. Chairman, probably the most striking illustrations of manipulation in the history of the exchange, that is the history of Amalgamated Copper. The Chairman. T wish vou would give it to us. Mr. Untermyer. T think you know something about that company in your city. Senator Weeks, and know that there has been nothing more shameless in the history of corporate exploitation than the deals of the Amalgamated Copper Co. by which the few insiders made vast fortunes. I want you to look at some of these figures. Senator Weeks. I though it was in your city? Mr. Untermyer. Yes. Tt came to our city. It was a decently well-managed corporation until it came to our city, and when it came to our city it got to be the football of the worst and most dishonest gambling ever known in the history of our country. The Chairman. Will you give us a sketch of that? Mr. Untermyer. There were three stages of that Amalgamated Copper transaction. The first stage was, T think, back in 1900, when Mr. Rogers and some of his...show more

Product details

  • Paperback | 558 pages
  • 189 x 246 x 29mm | 984g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236528964
  • 9781236528964