NEW YORK -- With the opening bell, the nation's oldest investment bank began trading on the nation's oldest exchange yesterday morning as Alex. Brown Inc. partner emeritus Ben Griswold III bought 100 shares in his company on the floor of the New York Stock Exchange.
The 80-year-old Mr. Griswold was there with a half-dozen other senior Alex. Brown officials, including his son, company Chairman Ben Griswold IV.
Mr. Griswold paid $22.50 for each of his shares, which now trades on the NYSE under the symbol "AB."
Alex. Brown's shares closed at $22 yesterday, up 12 1/2 cents from Friday but down 50 cents from Mr. Griswold's opening trade.