SUSPENDED FROM THE STOCK EXCHANGE.
FOR IRREGULAR SHARE SELLING. By Toleerapli-Frcia Assooiatlon-Oopyiieht London, November 12. Tho newspapers approve of the Stock Exchange's suspension for fivo years of certain members of tho Exchange— Percy Heybourn, Alexander Croft, and William Bagster, junr.—whoso action in introducing to tbo market American Marconi wireless shares was considered deserving of punishment, and points out that the suspension only applies to individuals, the remaining partners in thfi firm not being affected by tho decision. Heybourn and his associates are boing punished for a breach of trust with the brokers on April 10 last. The- evidence showed that Heybourn purchased a quarter of a million shares from Mr. Godfrey-Isaacs (chairman of tho Marconi Company) at. 255., and sold 128,650 at about 30s. Brokers' orders increased from 57,900 to 668,000 shares during the boom on April 18. At that time Heybourn—including extra purchases—owned 221,350, but instead of filling 40 per cent, of the orders ho only sold 82,680 shares at Gss. He sold 63,000 elsewhere on April 19. The "Daily Express" estimated that Hoybonrn's profit at tho end of tho 19th was £125,810. Besides, he retained 75,670 shares.
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https://paperspast.natlib.govt.nz/newspapers/DOM19131114.2.43
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Dominion, Volume 7, Issue 1906, 14 November 1913, Page 7
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189SUSPENDED FROM THE STOCK EXCHANGE. Dominion, Volume 7, Issue 1906, 14 November 1913, Page 7
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