Sales Talk

At first glance, the investment circular looked like a joke. "Amazing sale!" it said. "Up to 60% off original prices." But Manhattan's First Colony Corp.'s circular was no gag. It was simply an eye-catching way, usually frowned on by Wall Street, to get the public interested in buying stocks selling at far less than their book value. Said First Colony President J. G. Sittig: "The market needs a shot in the arm."

To give it one, the Association of Stock Exchange Firms was also at work. It had prepared a stock-market primer aimed at the non-investor. "There's no more mystery about...

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