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Each stock has a 25 percent maintenance margin requirement. Mr. Jones has a $6,000 unmet maintenance margin call, so the broker sold out some of his securities. The broker chose to sell out GHI. Mr. Jones is in a very high tax bracket, so the sale results in a large tax bill for him.
Margin is a loan from your broker to help pay for the securities you buy. Normally, you can finance up to 50 percent of your purchases with margin. For example, if you have $10,000 in cash in your margin account, you can buy $20,000 worth of stock. The shares you buy are collateral for the loan of $10,000.