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Show 4A The Salt Tribal.1, Sunday, h 21, 1912 'lay nWr pMrp ip f'p niPtairn the tin r nf t1 p Rpfpni Cleat Trouble it wix 'htewri and flexible enough in r give its salesmen a g'eat ety of products to ieplate the unpopular and fulling slot ks So M L salesmen pushed industrial and utility bonds hat were paying up to 9 portent with considerable safety, state and municipal bonds on ho-interest nu didn't hate to pay income tax, mutual mnds lot those nhc'ri given up tmng to pit K the. own stocks, commodities foi the ttue maiket gamblers seeking rontant at non, or investment trusts In cflect, every M L. btam h hetame a kind nf supermaik el nf finance, and tne fum ame ilirougn 1970 with a piofit of nearly $41 million m her-ms- e You Cant Feel It r i But This Firm e ieal-estai- e ure Can Sell It Murray Teigh Bloom Vv h en William Jr., a llson lanky, white-haire- necro- mancer, opens his shop on Northern Boulevard in Manhasset, N.Y., at 8.15 a.m , he doesn't have to dust. gold-walle- d His inven- tory is invisible. Hewitt's stock is sometimes cursed, occasionally blessed, and a very rare few will give customers eve; filled purses On demand Hewitt and his staff can conjure up any one of nearly 15,000 different items. For $5,000 you can acquire .a single shaie of stock Hoffman-LaRochin the Swiss drug firm; for $8,000 a Internashare of Coca-Col- a tional; for $1,000 a minimum purchase of a speculative mutual fund; or $250 will enable you to gamble on the future price of 50,000 pounds of Maine potatoes. Hewitt can go lower, too. He rah produce a spectacular variety of shares right down lo the $3 level. But thats bottom. Hewitt's employer, the worlds largest and most suce cessful firm, Merrill Lynch, Pierce, Fenner & Smith Inc., is not interested in shares below $3. Customers who want to speculate at those sordid levels are told, politely, by Hewitt that his not firm would handle it." Last year, some of the most desired items in Hewitts vast inventory were shares in his own organization. In June, 1971, Merrill Lynch went public by offering investors a chance to buy a piece of what is probably the most successful of the 570 New York Stock Exchange member firms that deal with the public. rather Only 59,000 tion in 15 and lots of rnpMlbutinrs il " b , bant whih stock o M't coing cut of business True other 'jnw tiifd tho supprm'rket approach, but with somethirg less then Tho-e bas smart tards," said one e.vious com'( ould sell anything petitor, tupcakes, chemicals or ondoins. Afier Princeton, class of 52, Hew in became a deck otficer on a Navy aircraft carrier, macried a Gland Rapids girl and, with the end of his Navy duty, became a Merrill Lynch ttainee assigned lo the downtown Brooklyn office. As he rewe't A E in the shoo, he was given a number of investment dubs These aie not generally consideied profitable clients: they have comusuparatively small tumls ally based nn fixed monthly bu1 sut-tp- "ijotbvau Oi sell Hew rt spen 11 wi n hr Bc'oklyn office and then was larsei M pmmoted in in Broad S i eel braich Manhattan where he dev el oped a new set of clients 'nclddmg sume with seven figure stock portfolios Finally, afiei 13 years as a salesman, he was advanced to commissioned lank (officp a g l v en management-rramincoui se end assigned, in 19GS, lo a new M L branch in Zanes ville, Ohio, a town of 40,000 r There he woiked much than he had in New York because, in line with M.L. 'wo to thee . he devoted hours a day lo community Y.M C.A., United aiians See Tage (nluinn Now O pen Sundays! Featuring FAMILY STYLE DINNERS manager', Children Vi Price Plus hai-de- pol-u- Wcyld Famous Sondw.ches ., Corner 4th South & Main Mntket T nr on nn Liassified Ads 1 stock-mark- Westwird I j account Motel Ho active moM ate m thp e As nranch manager, Hewitt must be an intuitive personnel rxpeit, a cmnmuniiy-ielatinn- c diplomat, a compliance officer (or cop), a coM accouna c I c l a n tant. a defense against marauding o m p et and, above all. a maMer salesman whnsp main oh is lo make suie his salesmen sell their present clients, add new ones and keep old ones happy e Selling is what the business is all about. Clever stock analysts, economists and perceptive back off ice computer-traine- d but experts are impoitant, those who can sell and earn commissions for their firm are the ones who rise to high places and gorgeous incomes. Merrdl Lynch has risen to the I more.) 15 A l.O'O level d Hewitts E s handle some of cusiomeis, which 1,500 were added in 1971 A few have slock aid bond poitfolios but tives enthu- siasm. After the 1970 debacle, more than 100 brokerage houses toppled, hardly indicative of a great growth industry. Still, 11 members of the Exchange have now goup public and eight me in the process. As manager of one of M.L.'s domestic branches there are also 56 foreign branches Bill Hewitt is subject to the constant flattery of his competitors. Once or twice a year he's offered seemingly better-paifancier-titlejobs, but after 17 years with Mother Merrill, hes able lo reject them with a smile He wont discuss his salary which is piobibly in the and $35,000 to $45,000 range his superiors wont help. ("Foiget it. We dont want anyone stealing him away by few a thousand offering execu I Worlds Largest 1,000 Rooms on the Strip Next to tho Stardust Hotel, Circus Circus and Riviera SEDUCED WHITES BATES!' ! Last Chance! Winter Rate Expires May 25, 1972 , Midweek Special Sunday through Thursday at lowest Winter Rate. Rooms Offered Special On 204 8$a5s90 purchasers salaried but its offering 1970 wasn't met with much around the world were able to get the four million Merrill Lynch shares offered. They paid $28 per shaie; last those shares were month, being traded on the Exchange for $45. Hewitt's us mmpetitors were leioidtng wounding losses nr Merrill Lynch, Fierce, Fenner and Smith, the television commercial says, is bullish on America. It's bullish on something else, ton the world of finance. Merrill Lynch claims it's the giant of Wall Street. And it has the sales staff and history to bark it up. The author, Murray Teigh Bloom, is a freelance writer. His most recent book is Rogues to Riches: The Trouble With Wall Street." Bv Hewitt uhile $7 . Over BOO Other Rooms & Suites Sterling at $2 00 Additonal On Fri , Sat , Holidays & Sunmer Season, Add $2 00 I sales- (a.) men, who are called account executives by M.L. and are part of the firms worldwide bddy of 5,500 expensively trained sales people, werent allowed to push the M.L. stock. No need to. Plenty of eager clients couldn't get nearly as much of the stock as they wanted, while 200 M.L. present and past executives became instant millionaires by selling their stock to the public. Met l ill Ly nch Although prides itself on its pioneering on Wall Street (it was the first firm to put its salesmen on a salaried rather than commission basis), it was not the first to go public. A much smaller firm had that distinc- - BRINS THIS COUPON TO FRONT DESK WHEN YOU CHECK IN SUPER FUN PACKAGE! Our 8399.99 Elegant Traditional Style Sofa 8-fo- $399.99 Spanish Style Sofa with Quilted Cover (b.) 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