Show Board oard Fights Old Guard Resurrection By RICHARD WALDO and GABRIEL NEW YORK YORK YORK-A A tense fight light is Sine ing O on within the stock exchange f g mily in which th the Whitney post-Whitney crowd is trying to keep the board free ee of any suggestion that the thed Id d guard is coming back Briefly adew few of the timers old-timers think Sough enough time has been passed since sincee the he e Whitney debacle and the s sub sub- b sequent rc reorganization to justify restoring Storing those traders associated with ith but not responsible for the thed theold old Id d Camorra The new memberShip member- member Ship ip figures a year 50 lapse would b be little enough The he issue is one of exchange poly pol pol- ol- ol cy y atmosphere rather than acal actual ac- ac ual al control When emotions were running lining high over the disclosures of I old guard management the thee e up ean was so drastic that import I t tit nt financiers were frozen out SO lely ely on the strength of social ties with gh the excommunicates These men men nien figure they have paid the penalty penalty pen pen- alty long enough have enough have entered some of their members in the b board bard ard elections coming to a vote th this s month IThe The majority wants to stand fast last particularly in an election year The investment bankers al already al- al r ready rady ady are making a running fight with ith S E C on one issue The utilitIes utilities utilities util util- are fighting lighting Washington and andS S E C on another For Wall street streett t tb make any gesture that would l load lead ad Washington's guns now would lie to raise the same issue that was as lost in 36 |