Stock Exchange Practices Hearings Before the Committee On Banking And Currency
Stock Exchange Practices Hearings Before the Committee On Banking And Currency
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Baker. No ; we could not be absolutely certain. Mr. Pecora. So that Mr. Baker (continuing). But we were morally certain that that would be effected. Mr. PECORri. You still say that your company's selling of the capi- tal stock of the National City Bank in April and May and June of 1929 was not of a character that required and compelled you to borrow 30, 000 shares in order to protect a short position? Mr. Baker. Oh, yes, because this stock we held of the Farmers Loan & Trust Co. Was not convert...ed into National City Bank stock until July 8. Mr. Pecora. You could not know and did not Imow at any time prior to June 28 whether it would be effected by a merger or not? Mr. Baker. I say, I could not tell, but it seemed practically certain it would be ratified by the stockholders. Mr. Pecora. The number of shares your company could have obtained from that merger at the most was about 17, 000 shares. Mr. Baker. At the date of April 22 that is what it would have been. On the date of the conversion, which was July 8, we had 5, 446 shares.
What to read after Stock Exchange Practices Hearings Before the Committee On Banking And Currency?
You can find similar books in the "Read Also" column, or choose other free books by United States Congress Senate Committee On Bank to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Baker. No ; we could not be absolutely certain. Mr. Pecora. So that Mr. Baker (continuing). But we were morally certain that that would be effected. Mr. PECORri. You still say that your company's selling of the capi- tal stock of the National City Bank in April and May and June of 1929 was not of a character that required and compelled you to borrow 30, 000 shares in order to protect a short position? Mr. Baker. Oh, yes, because this stock we held of the Farmers Loan & Trust Co. Was not convert...ed into National City Bank stock until July 8. Mr. Pecora. You could not know and did not Imow at any time prior to June 28 whether it would be effected by a merger or not? Mr. Baker. I say, I could not tell, but it seemed practically certain it would be ratified by the stockholders. Mr. Pecora. The number of shares your company could have obtained from that merger at the most was about 17, 000 shares. Mr. Baker. At the date of April 22 that is what it would have been. On the date of the conversion, which was July 8, we had 5, 446 shares.
What to read after Stock Exchange Practices Hearings Before the Committee On Banking And Currency?
You can find similar books in the "Read Also" column, or choose other free books by United States Congress Senate Committee On Bank to read onlineMoreLess
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