From: John Young <jya-AT-pipeline.com>
Date: Tue, 5 Dec 1995 11:58:34 -0500
Subject: Net Worth Cleansing 


   The New York Times, December 5, 1995


   Morgan Stanley Unit for Wealthy to Grow

   Morgan Stanley & Company intends to expand its
   private-client business aggressively over the next few
   years, adding several hundred brokers and increasing by
   billions of dollars the amount of money it manages for
   these generally wealthy individuals.

   In planning the expansion, Morgan Stanley has one eye on
   statistics that show that the richest 3 percent of
   Americans account for about one-third of the nation's
   financial assets, a senior Morgan executive said last week.




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