STOCK EXCHANGE PARASITES
WHOLESALE SWINDLERS. PURIFICATION CAMPAIGN. Received February 2G, 5.50 p.m. (Sun). NEW YORK, Feb. 25. Mr Simmons, president of the New York Stock Exchange, told a meeting of Chicago Stock Exchange officials, bankers and others, that bucket shop operators and vendors of fake securities were robbing the public of one thousand million dollars annually. He. said all classes suffer from their operations, but the swindler finds most victims among the helpless and poor. There is no field of business that has not sooner or later found itself invaded by this most dangerous parasite of the business world. Mr Gilchrist, a prominent Chicago financier, declared that between sev-enty-five and one hundred questionable investment houses were operating in Chicago alone. Other speakers pointed out that President Coolidge has emphasised the desirableness of national organisation to co-ordinate activities against stock swindling. As indicating the serious aspect, of the situation, many Chicago organisations have pledged themselves to aid the New York Stock Exchange in its fight against swindlers throughout the country.
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Bibliographic details
Wanganui Chronicle, Volume LXXXII, Issue 19248, 27 February 1925, Page 5
Word Count
169STOCK EXCHANGE PARASITES Wanganui Chronicle, Volume LXXXII, Issue 19248, 27 February 1925, Page 5
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