Business & Finance: Seventh Failure

Last week the New York Stock Exchange and New York Curb Exchange suspended for insolvency the firm of Bauer, Pogue, Pond & Vivian—the seventh such suspension since the bear market began.* Although the firm was of fair size, the action affected only a few stocks, did not halt last week's stock-market rally. As is customary, Senior Partner Frederick R. Bauer announced that if his firm's affairs were liquidated in an orderly manner, all creditors could be paid, a residue left for the partners. The strong market gave him a more pleasing background than...

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