Word: 20s
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Dates: during 1950-1959
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What had everyone concerned was the biggest public participation in the market since the '20s; a recent survey by the exchange showed that 25% of those interviewed were interested in the market v. 9% a year ago. Nevertheless, many Wall Streeters felt that the warnings were being overdone. Said A. Charles Schwartz, senior partner of Bache & Co.: "It is stupid, after years of a publicity campaign to get more people to buy stocks, to come out now and blow the whistle...
Despite SEC warnings of "manipulation," the stock market today is not manipulated as it was in the '20s. Then, a pool of speculators would buy enough stock to send it scooting up, stir up public interest so that they could unload at the top. Today, pools are not only illegal; stock ownership is so much broader that a pool could hardly operate. Now, stocks are often moved up by the tools of publicity...
...rebel combat commanders thrown up by Algeria's 4½-year-old civil war, none was more dreaded by French and Moslems alike than Amirouche Aït Hamouda, a peddler's son from the mountainous Berber stronghold of Kabylia. Barely into his 20s when he joined the underground, sinewy, long-legged Amirouche rose swiftly to the F.L.N.'s highest field rank, full "colonel," commanded a battle-hardened force of 5,000 men that made Kabylia the country's strongest bastion of rebel power...
Naples-born Ray Fabiani, who was brought to the U.S. when he was three, and played violin with the Chicago Opera Co. when he was in his early 20s, tried his hand at concert management. But at the opera one evening, Jim ("The Golden Greek'') Londos, onetime heavyweight wrestling champion of the world, persuaded him that the real money was in the wrestling ring. Publicity-wise Ray Fabiani set up scholarships for young wrestlers (the recipients were sent to a muscle-building gymnasium), lured ex-Heavyweight Champion Joe Louis into a brief and unrewarding wrestling career, spiced...
...industry, long in a slump, is now on the way back. From a total of $400 million in the '20s, hat sales dropped to a low of $250 million in 1953. Part of the trouble was a shift in fashion; the longtime dictum that every woman had to wear a hat to be well dressed almost died in the flight to the suburbs and the new, casual living. But fault also lay with the hatmakers; hats became too silly even for women to wear. Says Designer Victor: "We forgot one thing-to make the hats pretty. All you have...