The Farmer Comes to Town

Forty-nine men have headed the New York Stock Exchange since 1817; all were bankers, brokers or otherwise emblematic Wall Streeters. But last week a special Stock Exchange committee broke this 124-year tradition, named a farmer-politician to the presidency. The man: big, dimpled, platter-eared Emil Henry Schram, who never owned more than 100 shares of stock in his life.

If Wall Street's bankers & brokers were peeved at this invasion, they were too beaten to protest. The beating, now in its twelfth year, had pushed Stock Exchange trading volume (on an annual basis...

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