WALL STREET: High Jinks in Artloom

One of the most heavily traded stocks on the New York Stock Exchange last week was that of a little Philadelphia rug firm, the Artloom Carpet Co. From a low of $3.75 a share earlier this year, Artloom has soared to a high of $27.63, even though Artloom's business has been as threadbare as a boardinghouse hall carpet. Last week the Securities and Exchange Commission lifted the rug to see what went on, found an old familiar face in an old familiar pattern of action.

The face belonged to 43-year-old Hyman Marcus, onetime...

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