1929 Group of Correspondence, Telegrams, Ephemeral Evidence Pertaining to a Purported Case of Stock Market Client Manipulation and Fraud Brought to the Attention of the New York Stock Exchange Committee on Business Conduct.
(Americana - 20th Century - New York Stock Exchange - Business History - Ethics)

New York, NY: New York Stock Exchange, 1929. F Group of approximately 50 pieces of material: letters, telegrams, stock purchase and sale orders, copies of correspondence & various notes - all relating to this case brought to the attention of the NYSE Business Conduct Committee for their opinion. Mrs. K.T. Rice of Schenectady, NY had been introduced by a friend to Everett G. Harding, representing Phelps Ells & McKee members NYSE, in order to begin investing in stocks. After a few small and successful trades performed for Mrs. Rice by Harding - involving John Mansville, Chile Copper, Loews Inc. stock purchases and sales - a loss of her funds occurred on investing in Columbia Graphophone, that she disputed. Much of the dispute is of the "he said, she said" variety with neither side acknowledging error and both attempting to bolster their case by the evidence presented here, which was eventually put before the Business Conduct committee by the husband of Mrs. Rice, Martin Port Rice, along with the threat of legal action. The committee found for Phelps and this was very disappointing to the Rice case. Conveniently, Harding was 'no longer with the firm' to confirm or deny evidence. Mr. Rice wrote the President of the NYSE, Mr. Simmons who referred the case to the ethical adjudication of the committee, with letters here from L.R. Harrison, Secretary; their final decision "...Where an issue is at conflict between a customer and the broker, and the former cannot submit evidence substantiating his position with respect to it, the Committee is necessarily in a position where it cannot sustain it. This is the situation which exists in the case of your complaint..." Letters on NYSE & Phelps letterheads, some carbons of letters sent by the Rices, bought & sold forms, telegrams sent, various sizes; some of the items with some edge-wear and darkening; most in very good condition. Very Good Paperback (Item ID: 24744)


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