On the New York Stock Exchange last week a 10,000-share block of Dome Mines Ltd. (gold) was sold at 16¼ a share. The seller: Wall Street's Clifford Michel, Dome Mines president. Next day, when Dome cut its quarterly dividend (from 25¢ Canadian to 17½¢), the value of the 10,000 shares dropped $11,250. Then, before anybody could cry "inside unloading," Clifford Michel stepped up, canceled the sale, and gave his reasons.
The 10,000 shares belonged to the late Jules S. Bache, longtime Dome Mines president. Michel, trustee of the estate, had sold the stock to pay estate taxes. He had not...
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