HUGE PROFITS
NEW YORK STOCKBROKERS
NEED FOR REGULATION
WASHINGTON, May 1,
The Senate Banking Committee pub lished a report today showing that the gross income of 519 brokers belonging to the New York Stock Exchange had aggregated 2,153,000,000 dollars during the past six years, of which; 833,000,000 dollars was net income.
It is understood that these huge profits were revealed to sho.»- the necessity for passing the President's Bill strictly regula;ing, stock exchanges. Officials of the New York Exchange made a counter charge that the figures did not truly represent the situation. They admitted that brokers, made large profits in 1928-29 when their customers were .naking large profits, but. said that subsequently their earnings had been greatly reduced.
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Bibliographic details
Evening Post, Volume CXVII, Issue 103, 3 May 1934, Page 11
Word Count
118HUGE PROFITS Evening Post, Volume CXVII, Issue 103, 3 May 1934, Page 11
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