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Consortium. Only fragments concerning the Consortium have been made public, but much has been deduced, much learned from "high authority."
The "fund" is generally accepted as having been $250,000,000. The following is the unofficial description of the Consortium's story. Upon the first day (Oct. 24), it bought all stocks where no bids were present to meet large blocks for sale. Such a case was duPont, which after selling above $100, was suddenly faced with an offer of 20,000 shares at the market. These were bought by the Consortium at $80. The next sale was above $100 again. But after the first day, it became apparent to the Consortium that such a policy gave them a lot of stock in issues not important, and not underpriced. Also, they saw that it was impossible to halt the break. As a result, they decided to concentrate upon "pivotal" companies.
Judging from the date of its last meeting, the Consortium stopped buying on Nov. 13. As far as can be discerned, its last share of stock was sold by Feb. 19.