January 24, 2000 |
B. Kenin Hart, 60, president and founder of the Hart Corp. brokerage firm and a resident of Huntingdon Valley, died Tuesday in a plane crash in Kentucky. Mr. Hart and three others were on their way to tour a factory site when the Beechcraft King Air C-90 crashed about noon as the pilot tried to land at an airport in Somerset, Ky. Mr. Hart began his real estate career at age 18 when he began selling manufacturing facilities for a Philadelphia brokerage firm. At 23, he founded the brokerage firm, a business that now specializes in buying, leasing and selling industrial properties of more than 40,000 square feet.
January 10, 1987 |
A local real-estate brokerage firm has charged that Bell Atlantic Properties reneged on a promise to pay commissions in connection with Bell's $148.7 million acquisition of 41 properites and 300 acres of land from Pitcairn Properties Inc. last year. In a lawsuit filed in U.S. District Court in Philadelphia on Dec. 31, the brokerage firm, Isard-Greenberg Co., said it was seeking $3 million in damages. A spokesman for Bell Atlantic Properties said yesterday that it would be "inappropriate to comment on the allegations because the matter is currently in litigation.
October 24, 1986 |
A Montgomery County couple, claiming they lost more than $300,000 of their savings, have filed a suit charging Shearson Lehman Bros. Inc. with securities fraud, negligence, breach of contract and "churning" their stock account. The suit, filed Oct. 10 in U.S. District Court in Philadelphia, accuses the Boston-based brokerage firm of unauthorized and excessive trading in the couple's account for "the sole purpose of generating" commissions. It was the second suit filed this month against Shearson by a Philadelphia- area investor and the third suit since August.
January 12, 1996 |
Edward J. Tague Jr., 85, a retired trader with the Philadelphia Stock Exchange, died of a cerebral hemorrhage Tuesday at Paoli Memorial Hospital. He began at the stock exchange in 1936 and stayed there until 1976, although he kept his seat on the exchange until last year. From 1952 through 1965, he was a member of the board of governors. During the 1960s, the period of the exchange's greatest growth, he chaired the Committee on Floor Procedure and worked to attract institutional investors.
May 7, 1990 |
Robert W. Drummond, 82, a member of the board of directors of Crown Cork & Seal Inc. who helped build the manufacturer of beverage cans into a Fortune 500 company, died Friday at his vacation home in West Palm Beach, Fla. A Philadelphia native and resident of Stone Harbor, N.J., Mr. Drummond had a financial career that spanned the two major stock market crashes of the century. As a young account executive at the now-defunct Philadelphia brokerage firm of E.H. Rollins & Son, he anticipated the Black Monday crash of Oct. 29, 1929, and actually profited from the disaster by placing low bids on blue-chip stocks beforehand, said his daughter, Beverly D. Mowbray.
March 1, 1991 |
Howard Butcher 3d, the 90-year-old chairman emeritus of Butcher & Singer Inc., has been accused of engaging in "dishonest or unethical practices" by the Pennsylvania Securities Commission. Also named in the commission's order was Stuart M. Hammerle, an investment officer at the Philadelphia brokerage firm. The commission, officials said yesterday, will schedule a hearing to determine the validity of the charges. If the allegations are substantiated, the men could be barred or suspended from trading securities in Pennsylvania.
May 27, 1995 |
Edgar Scott was a man of money and prestige. Heir to the Pennsylvania Railroad fortune, Scott studied at Groton School and Harvard and went on to co-found the largest brokerage firm in Philadelphia, Janney Montgomery Scott Inc. But his greatest loves were not money and prestige, but his wife and the arts. Hope Montgomery Scott was an elegant Main Line socialite and famous equestrian. She dined with Winston Churchill on Greek billionaire Aristotle Onassis' yacht and was portrayed by Katharine Hepburn in "The Philadelphia Story" and by Grace Kelly in "High Society.
November 17, 1986 |
At age 82, Harry G. Kuch has survived the Great Depression, World War II, one stroke, two bouts with cancer and a heart attack. He's outlived three of his five children and many of his competitors. "I'm the luckiest man alive," he says. He's also an anomaly. As president of the small - but very profitable - brokerage firm he opened in 1945, he's been selling stocks and bonds in Philadelphia for nearly 60 years and has survived revolutionary changes in his industry. Only last year his firm, H.G. Kuch & Co., was acquired by the Presbyterian Ministers' Fund, the nation's oldest life-insurance company.
August 19, 2012 |
Q uestion. With seemingly stable companies such as AIG, JPMorgan, Fannie Mae, Freddie Mac, Lehman Brothers, MF Global and Peregrine having financial problems, how safe are investor monies held/deposited with national brokers such as Scottrade, [TD] Ameritrade, Vanguard, Schwab and others? Answer. It's a shame that people feel compelled to ask this question, because it shows how far trust has slipped since we learned in 2008 and afterward that we cannot rely on financial companies, politicians or regulators to protect investors or taxpayers.
November 16, 2012 |
WASHINGTON - Republicans on a House panel that investigated the collapse of the brokerage MF Global are pinning the blame on ex-CEO Jon S. Corzine, a former New Jersey Democratic senator and governor. The Republicans say the investigation has found that Corzine's decisions caused MF Global's bankruptcy in October 2011 and its loss of more than $1 billion in customer money. They say Corzine turned the brokerage firm into an investment bank making risky trades. They also say Corzine ran the firm in an authoritarian manner and did not allow anyone to challenge his decisions.