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THE recent case of Kinney v. Glenny raises interesting and important problems of business and of law and poses questions that require for their disposal an appreciation and appraisal of the methods employed in marketing and distributing securities. The problems involved cover a wide range. In general they pertain to the fiduciary relationship between broker and customer, and between dealer and customer; the various business situations wherein the broker or dealer acquires an adverse interest to the customer; and the legal rights and duties flowing therefrom. There will be examined not only the report of the case but also the record and such additional, independent sources of information as throw light on the nature of the business and legal problems involved and as orient the specific point at issue in the Kinney case.

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