Business: Aghast

When Richard Whitney, onetime president of the New York Stock Exchange, was suspended from the Exchange last month for insolvency and theft of customers' securities, his older brother, Morgan Partner George Whitney, was in Florida on vacation. Wall Street took this as prima-facie evidence that George Whitney knew nothing of the pending debacle. Last week this view was considerably modified.

Testifying fortnight ago, Richard Whitney revealed that his brother had loaned him $1,082,000 in November, having already loaned him $2,000,000 several months before. Testifying last week, Richard Whitney was asked to recall their...

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