MARSH HAD A $2 BILLION BOND POSITION
The Marsh & McLennan Companies accumulated some $2 billion in government bond positions, in large part as a result of unauthorized trading by one of its dealers, the company said yesterday. The positions were significantly larger than the company realized it held. The figure was also considerably more than the $1 billion or so Wall Street experts had guessed after the company announced on Monday that it had lost some $120 million as a result of the unauthorized bond trades, or about $60 million after taxes. The charge is to be taken against first- quarter profits.
