Business & Finance: Investment Trusts

When he bobbed up in Wall Street two years ago with control of a few investment trusts no one knew very much about Wallace Groves except that he had made some money in Baltimore in a chain of small loan companies. His Yosemite Holding Corp. controlled Chain & General Equities which in turn controlled Banc-america-Blair-sponsored Interstate Equities. He bought into Distributors Group, Inc.. one of the biggest fixed trust selling organizations in the U. S. He bought into Allied General which was both a trust and a selling organization. Late last year he...

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