Securities Firms Post Fourth-Quarter Losses: Less than...
From Times Staff and Wire Reports
Securities Firms Post Fourth-Quarter Losses: Less than 55% of the nation’s securities firms were profitable during the fourth quarter of 1989, and the industry as a whole lost $92 million during the period, according to the Securities Industry Assn. The losses were largely the result of declining trading profits and losses in the firm’s own investment accounts, the SIA said. Securities firms’ investment accounts declined in value by $221 million during the quarter, contrasted with a profit of $308 million a year ago.
