Paper trading in St. Louis
Safe-deposit box No. 4411 at Boatmen's National Bank of St. Louis was supposed to hold stock certificates as gilt-edged collateral for ten of the largest margin accounts at Stix & Co., a prestigious St. Louis brokerage house. While investigators from the Securities and Exchange Commission looked on, a bank official and an officer of Stix turned matching keys in time-honored fashion. But when the box was removed, it contained a pouch filled with back issues of the Wall Street Journal. Securities worth some $36 million were missing.
The next...
To continue reading:
or
Log-In
