A Battle of Giants
Sir: One point you failed to mention in your excellent article on the stock market [May 25] was the effect of the high surcharge on commissions for the small investor. By discouraging the little man who would like to share sincerely in American industrial progress, the marketeers will soon find themselves facing institutions only. Then we will see a battle of the giants interested only in outsmarting each other. Trade-offs on huge blocks of shares may be common, and eventually brokers will disappear.
GEORGE MOORE Charlottesville, Va.
Sir: When 1,000,000 people, half of whom are probably in the $10,000-to-$ 18,000...