Business: Battle of the Citadel

Members of the New York Stock Exchange had long smugly thought that employees in the citadel of capitalism had no use for unions. One of these employees, a clerk named M. (for Merritt) David Keefe, thought differently. Too poor to finish high school, he had gone to work for the Exchange in 1928 as a $15-a-week page boy. Like many others, he hoped to get a job with a member house, and then make his fortune. But—also like many others—the 1929 crash plastered Keefe flat to the job he had. By 1941, when he was 32, Keefe was earning $28 a...

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