AMEX SAYS BEAR STEARNS BOUGHT SPECIALIST UNIT
The American Stock Exchange said, as
previously reported, that Bear Stearns and Co <BSC> has
purchased <W. Damm, M. Frank and Co>, a specialist unit on the
Amex trading floor.
    Amex said the unit, which trades stocks and options is
small in comparison to other specialist units. The personel and
operations remain the same, the exchange added.
    The price was not disclosed.
    A specialist unit is authorized by a stock exchange to deal
as an agent for other brokers to keep a stable market in one or
more particular stocks.
 Reuter
