The Most Wanted Roulette-System On CB!!

It might be better if directors were paid a sum commensurate with their services and were then barred from dealing on their own stock, but as a practical matter it is not so. A more advanced position is taken by a wealthy and powerful man described as "one of the self-made men of Wall Street," who said: I am a director in both railroads and industrial companies and I know of my own knowledge that the chance to trade on inside information about railroad properties has become very small. Earnings are reported too fre FINANCIAL ABUSES AND INVOLVEMENTS Quently for that. It is different with industrials. They do not report monthly, nor in all cases even quarterly, and between one annual report and another there is room for the use of inside information. There is a good deal of exaggeration about the big profits insiders make in the stock market. If they buy or sell they take a market risk and they are often wrong despite their inside information. Personally I am in favor of more frequent reports by industrial companies. The next man interviewed took almost the contrary attitude, although even his remarks indicate a great advance over some of the practices that have been above described: As for the director's right to use advance information to his own advantage, you must grant that self-preservation is the first law of society. A director has put his money into a company, given it a lot of his time, and is entitled to increase or diminish his investment in it on the basis of information which has not yet become public. If he knows of a profitable contract about to be closed, he has more right than any one else to benefit by a rise in the stock on the announcement, because he has helped to get the contract. Should he see bad times coming he is not morally bound to sit tight and see his shares decline. He has a right to sell his holdings, and he usually does....