Wall Street: Squeezing the Small Investor

Hurt by a severe decline in profits, Wall Street brokers plan to squeeze more money in commissions from their small customers, while giving greater discounts to big stock traders. The New York Stock Exchange last week voted to raise commission rates on transactions of 200 shares or less and cut them on all larger trades. For example, commissions on a 100-share order would go up 68%, while a 1,000-share trade would cost 37½% less than it does now. The overall effect would be to raise brokerage charges an average 10%. The proposal was forwarded to the Securities and...

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