Word: abortive
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Dates: during 1940-1949
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...Typical of the capital goods makers who scarcely felt the '37 boom (thus helping to abort it), American Car & Foundry declared a dividend on its common stock for the first time since 1937, earned $5,161,130 (compared with a $10,777 loss the year before) for the year ended April 30. A. C. & F. was one of the first heavy-industry companies to convert its plants to war use. It is producing about $200,000 worth of tanks (twelve...
Presumably the reasoning behind this drastic behavior was that : 1 ) Germany's smashing offensive portended a quick peace, which would abort the aircraft and lesser export booms, 2) a Germanized Europe and axified world would end all extra-hemispheric trade, close European markets to North & South American commodities. Another bearish factor was technical: margin calls. When the selling started, swarms of little fellows, others not so little, were forced to raise a few hundred dollars with which to keep their positions in war babies like North American Aviation (down 8⅞ points by Tuesday's close...