Printer Friendly

MERRILL LYNCH ASSISTS IN MIDWEST FLOOD RELIEF EFFORT

 NEW YORK, July 30 /PRNewswire/ -- Merrill Lynch & Co., Inc. today pledged $100,000 to the American Red Cross and Salvation Army for midwestern flood relief, and said it would match employee contributions of up to $100,000, for an additional total of as much as $200,000.
 In addition, to help Merrill Lynch clients with their donations to the flood recovery effort, the firm will waive all commissions and handling fees for clients who want to pledge appreciated securities to the flood relief funds.
 "In response to the tremendous and unprecedented needs that exist, Merrill Lynch is committed to assisting the invaluable work being done by The American Red Cross and the Salvation Army, two of the prominent relief agencies addressing those needs," said Daniel P. Tully, Merrill Lynch chairman and chief executive officer. "Many of our employees are eager to help and if our challenge grant is met, the agencies would receive a combined total of $300,000."
 The company will match, dollar for dollar, employees contributions from $50 to $500.
 Commenting on the steps Merrill Lynch will take to assist charitable donations by clients, John L. Steffens, executive vice president of the Private Client Group, said: "For many of our clients who want to help the flood relief efforts, donating appreciated securities can be a prudent and humanitarian response. By waiving our commissions and fees, we're making it as convenient and cost-effective as possible."
 All of the donated funds and matching gift money will go directly to the disaster relief funds with no percentage used for administrative costs.
 -0- 7/30/93
 /CONTACT: Sabrina Y. White, 609-292-3121 or Bobbie Collins, 212-449-7282, both of Merrill Lynch/
 (MER)


CO: Merrill Lynch & Co., Inc. ST: New York IN: FIN SU:

LG-WB -- NY044 -- 7793 07/30/93 13:22 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 30, 1993
Words:298
Previous Article:DONALDSON COMPANY ANNOUNCES QUARTERLY CASH DIVIDEND
Next Article:TNN TO PROVIDE LIVE REPORTS FROM CONCERT IN ST. LOUIS TO BENEFIT MIDWEST FLOOD VICTIMS; GEORGE JONES, KENNY ROGERS AMONG STARS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters