Word: airpocket
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Dates: during 1930-1939
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...especially helped by his flight, rose to spectacular heights on predictions of tremendous profits. Fulfilling these prophecies, earnings for 1928 were $2,400,000 against $900,000 in 1927. Last week, Wright, now 90%-owned by Curtiss-Wright, published its report for 1929. Its earnings had tumbled into an airpocket as great as the one which engulfed all aviation securities, for instead of the $5,000,000 that had once been hoped for, the report again showed a measly $900,000. Last month the Wright dividend had to be passed...
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