He who sells what isn't his'n Must buy it back or go to pris'n.
This old Wall Street jingle is usually reserved for the short sellers (i.e., those who sell stocks they do not own in hopes of buying them cheaper later for delivery). But last week it was the New York Stock Exchange itself that was painfully reminded of the penalties of selling "what isn't his'n." It was caught short on a sale of one of its seats: the membership of Broker Edward Platt to Broker W. Allston Flagg for $74,000. Platt...
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