MARKET OPERATIONS.
REVELATIONS IN AMERICA. Received October 4, 1.55 p.m. WASHINGTON, Oct. 3. The resumption of the hearing before the Senate Committee investigating stock market operations revealed that the Dillon Read Company made a sensational profit by the formation, in 1924, of the United States and foreign Securities Company, obtaining 500,000 shares of common stock at 20 cents which they later sold up the stock market at as high as 72 dollars.
Clarence Dillon, a member of the firm, outlined how this thirty million dollar investment trust, organised and controlled by his company, with an expenditure of only 5,100,000 dollars, was operated from Pecoria. He listed 39 domestic foreign corporations on whose boards of directors the Dillon Read Company was represented.
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Manawatu Standard, Volume LIII, Issue 263, 4 October 1933, Page 8
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121MARKET OPERATIONS. Manawatu Standard, Volume LIII, Issue 263, 4 October 1933, Page 8
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