WALL STREET: The Sure Thing

Over Manhattan television and radio stations, in full-page newspaper ads and in big-scale direct mail promotions, Jersey City Broker Walter F. Tellier plugged his penny uranium stocks as "a ground-floor opportunity," "the best buy in 20 years." "You can't lose—you're investing in a sure thing," his high-pressure salesmen promised investors. With this glib spiel, Tellier, one of the biggest over-the-counter dealers in the U.S., since 1951 lured in 50,000 buyers of shares in Utah's Consolidated Uranium Mines Inc. He said that Consolidated had 85,000 acres of uranium land leases and had discovered $1,000,000 worth...

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