TRADE: Diaries and Directors

Poking behind some furniture in a shed near the McKesson & Robbins plant in Bridgeport, Conn, one day last week, Post Office Inspector Samuel MacLennan found two old ledgers. They contained the record, written in his own hand, of 16 of the 18 years that Philip Musica lived and swindled as F. Donald Coster. Confronted with the diaries, the three surviving Musicas promptly pleaded guilty to violation of the Securities & Exchange Act. SEC Examiner Adrian S. Humphrey thought them so important that he adjourned his inquiry until the ledgers had been...

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