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QUICK & REILLY TO COMBINE STOKES, HOYT WITH JJC SPECIALIST OPERATIONS

QUICK & REILLY TO COMBINE STOKES, HOYT WITH JJC SPECIALIST OPERATIONS
 NEW YORK, Oct. 27 /PRNewswire/ -- The Quick & Reilly Group, Inc. (NYSE: BQR), announced today an agreement in principle to combine the New York Stock Exchange specialist operations of Stokes, Hoyt & Co. with those of Quick & Reilly's specialist unit, JJC Specialist Corp..
 JJC Specialist already makes markets in more than 100 NYSE listed companies. Stokes, Hoyt & Co., founded in 1875, makes markets in more than 35 NYSE stocks including General Electric, Chiquita Brands and Unilever.
 "The addition of Stokes, Hoyt will continue to build the strength of JJC Specialist Corp.," said Leslie C. Quick Jr., chairman and chief executive officer of Quick & Reilly Group, Inc. "It is also in keeping with the Group's overall strategy which seeks to expand all three major businesses through internal growth and well-priced acquisitions," he noted.
 "We couldn't be more pleased with this agreement," said William J. Stoutenburgh Jr., an official of Stokes, Hoyt. "The combination of two strong specialist firms will allow indepth markets to satisfy not only the New York Stock Exchange member firms and their customers but the listed companies for which we make markets. This will also enhance professional resources to take care of any situation that might arise in the marketplace."
 The transaction will be subject to approval by the Market Performance Committee of the New York Stock Exchange at a special meeting and to the satisfaction of certain conditions. The transaction is expected to be completed early next year.
 Quick & Reilly Group, Inc., is the holding company for Quick & Reilly, Inc., which in 1974 became the first New York Stock Exchange member firm to offer discounted commissions to the nation's most sophisticated individual investors. Headquartered in New York in new quarters at 26 Broadway, Quick & Reilly, Inc. serves its clients through 77 offices in every major U.S. city.
 The Quick & Reilly Group, Inc., also is the holding company for U.S. Clearing Corp., which provides clearing and execution services for more than 155 brokerage and banking firms in addition to Quick & Reilly's offices.
 -0- 10/27/92
 /CONTACT: Leslie C. Quick III, chief operating officer of Quick & Reilly Group, 212-747-4844; or Bill Reddig of Hill and Knowlton, 212-697-5600, for Quick & Reilly/
 (BQR) CO: Quick & Reilly Group, Inc.; Stokes, Hoyt & Co. ST: New York IN: FIN SU:


GK -- NY042 -- 5272 10/27/92 10:05 EST
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Publication:PR Newswire
Date:Oct 27, 1992
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