BROKERS' HUGE PROFITS
NEW YORK EXCHANGE. REGULATION NECESSITY. (Received 9 ,a.m.) WASHINGTON, May 1. The Banking Committee of the Senate published a report today showing that the gross income of 519 brokers belonging to the New Y'ork Stock Exchange 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 are revealed to show tho necessity for passing the President's Bill to strictly regulate the exchanges. Officials in the New York Exchange allege that the figures do not truly represent the situation. It is admitted that brokers made large profits in 1925-29, 29, when their customers were making > largo profits, hut subsequently their earnings were greatly reduced.
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Northern Advocate, 3 May 1934, Page 5
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118BROKERS' HUGE PROFITS Northern Advocate, 3 May 1934, Page 5
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