Drexel Sold Some First Executive Stock: Drexel...
From Times Staff and Wire Reports
Drexel Sold Some First Executive Stock: Drexel Burnham Lambert, which last month said it controlled the equivalent of 6.3% of First Executive’s common stock, said it sold 2 million shares of two different series of First Executive preferred stock. Drexel now owns less than 5% of embattled First Executive. Drexel received nearly $6.9 million for its sales in the open market of 1 million shares of Series G cumulative preferred stock and 1 million shares of depositary preference shares.
