From: utzoo!decvax!harpo!eagle!wb2!houxz!houxi!houxa!houxk!houxj!wapd Newsgroups: net.invest Title: First Jersey Securities Article-I.D.: houxj.206 Posted: Wed Jan 26 17:13:33 1983 Received: Sat Jan 29 09:11:38 1983 There was an article in the business section of the Sunday New York Times (Jan 23 1983, I guess) about First Jersey Securities. Basicly, it said that the owner has been in trouble with the SEC several times, with previous ventures and with this one. Suspicious stuff is going on, like 220,000 pages of documents disappearing from a locked room at the SEC. Also, they have been accused of high-pressure sales tactics and giving suspicious recommendations that border on deception of their customers. What got me was their "high-pressure" line and their way of getting recommendations, because I got such a call and several other people at BTL got calls from them. At first I thought that BTL might have given out my name to them, but maybe it was related to a change of my voter registration at the time. Anyway, the article said (according to a former employee of theirs) that on the 10th of every month, headquarters would come down and say "we've got a hot tip on stock XXX; call all of your customers". All 100 people in the room would start making phone calls, saying "we've got a hot tip on a stock and there may be a great opportunity in the next few days. Where can I get hold of you in the next 48 hours ?". The funny thing is that my call went exactly that way. It was "a hot tip on an oil stock" and "was I interested if something happened in the next day or so ?". I said I wanted to see lots of literature and think about their company first, and would they mail me something ? Two months later, no literature, no other calls. Has anyone else "heard the call" ? Bill Dietrich houxj!wapd