Shearson Lehman Hutton Holdings Inc. 1988 profit...

Shearson Lehman Hutton Holdings Inc. 1988 profit fell 5% to $96 million. Revenue advanced to $10.5 billion, up 56%. The New York-based brokerage holding concern said the results were due to lower investor participation in the financial markets, $165 million in expenses associated with its E. F. Hutton Inc. merger and a $100-million pretax writedown of MCorp securities held by the firm.