SECURITIES: From the Boiler Room

For five years the name W. Kennedy had been on the sucker lists of security salesmen who, finding the going too tough in the U. S. under SEC administration, had fled to Canada to sell their wallpaper mining stocks by long-distance telephone. Fortnight ago, W. Kennedy's turn came. The telephone in his Chicago office rang. He picked up the receiver. The conversation:

Voice: "This is Mr. Marples of F. H. Marples & Co., specialists in mining and industrial securities, of Toronto, Canada, calling."

Kennedy: "Yes."

Voice: "I just happened to call into my Chicago...

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