Business: Friends of Insull, Cont'd

Fortnight ago it was revealed that 205 of Samuel Insull's friends were allowed to buy his Insull Utility Investment shares at $12 before the public got them at $27 (TIME, Oct. 3). Last week was uncovered another, larger inside scheme of the same kind—a 115,000-share syndicate list for I. U. I. shares at $50 when the market value was $59.25. The 250 members put UP 5% cash, later another 15%. Some did not pay the final assessments, may be sued by receivers of the company. All lost money on the venture. Part of the...

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