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Re: EL Fate (was RE: (erielack) Alco Farewell / Economy Changes)

I financed a semester of college off my sale of PC stock at 81 3/8 (not the top) from the shares I bought over my grandfoather and his broker's strong ojection (PRR at 13). As my mom and grandmother said, "You said you'd buy him ten shares of any stock he wanted. A deal is a deal!"

The best part is, the "sure fire" stock grampa purchased the same day (Great Northern Iron Ore)  at 21 7/8 dropped shortly thereafter to 14 and stayed there for years.

I tried for NYS&W stock, but Irving Maidman was still scooping it up -- at the highest price it ever reached after emerging from the 1953 bankruptcy. Ex WB&E bondholders selling to Maidman in those days would have netted 20 cents on a dollar on their investment, all totaled had they sold to Maidman at that point <g>.

Cheers,
Jim Guthrie
ELHS #1296

- -----Original Message-----
>From: Tim Stuy <njmidland_@_verizon.net>
>Sent: Dec 14, 2010 1:25 PM
>To: EL Mail List <erielack_@_lists.railfan.net>
>Subject: Re: EL Fate (was RE: (erielack) Alco Farewell / Economy Changes)
>
>
>I was too late when I wanted to have my parents buy EL stock.  I still
>remember the reaction of my parent's stockbroker when I wanted to buy one
>share of stock in the NYS&W!  I did own stock in Delaware Otsego and Erie
>Lackawanna Inc. after Conrail but it wasn't quite the same (they didn't go
>broke!).
>
>Tim
>
>On Tue, Dec 14, 2010 at 1:19 PM, Montgomery, Edward T <ETMontgomery_@_fcps.edu
>> wrote:
>
>> One extra note.  I remember watching the stock quotes of railroads listed
>> in the Newark News in the 60's and wondered what was going on with EL stock.
>>  Reading about it years later explained it.
>>
>> Ed
>>
>>
>>
>> -
>>
>
>
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