CANADIAN BROKERAGE FIRMS UNDER CLOUD
\ m Wholesale Suspensions * ONLY CASH TRADING IN STOCKS FOR FUTURE NATION-WIDE CONSPIRACY. United Press Association.—By Electric Telegraph. —Copyright. Received Sunday, 7 p.m. VANCOUVER, Jan. 31. More firms feature in tho nation wide drive against tho alleged wholesale brokers’ conspiracy to defraud tho public. At Victoria, Hugh Allen and Co., the oldest firm there and at Winnipeg, tho business of tho linns of St. Obie, Furlong and Matthews, have been assigned. The latter closed all its offices, leaving Saskatoon and other centres without trading. There was no trading in Ottawa, because all the brokers were suspended by the Exchange there. There vas a sensation at Calory, when two suspended millionaires, I. W. Solloway aud D. F. Patterson, appeared at the Exchange, trading in defiance of the Exchange’s order that trading should cease. Both were ejected and their previous trading was cancelled. The drive is likely to compel legislation, banning all except cash trading in stocks.
At Ottawa, the Provincial investigator compelled one firm to buy back all stock it had sold in a dubious mine.
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Bibliographic details
Manawatu Times, Volume LV, Issue 7133, 3 February 1930, Page 7
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179CANADIAN BROKERAGE FIRMS UNDER CLOUD Manawatu Times, Volume LV, Issue 7133, 3 February 1930, Page 7
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