"Everybody thought he had a God-given duty to go out and buy Ford stock," groaned a harried Chicago stockbroker. "We didn't have near enough to go around."

As Wall Street expected, the 10.2 million shares of Ford stock put on sale for $64.50 by the Ford Foundation promptly "went out the window" on F-day. The seven syndicate managers (Blyth & Co., Inc.; First Boston Corp.; Goldman, Sachs & Co.; Kuhn, Loeb & Co.; Lehman Bros.; Merrill Lynch, Pierce, Fenner & Beane; White, Weld & Co.) each got 307,500 shares. But the 2,000 other firms that helped sell the issue got...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!