WALL STREET: Changing Times

When her husband died eleven months ago, Mrs. Charles Ulrick Bay, widow of the former U.S. Ambassador to Norway, found herself with 71% of the stock in Wall Street's venerable (since 1865) brokerage firm of A. M. Kidder & Co. Inc. But the New York Stock Exchange requires, in effect, that a stockholder who owns more than 45% of a member company's shares must either 1) sell the stock, or 2) take an active part in the firm. Since she always had an active interest in her husband's business and philanthropic dealings, Mrs. Bay had no trouble making her...

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