Word: april
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Dates: during 1930-1939
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Competing with Amos 'n' Andy on the radio is like taking on Joe Louis. CBS tried it for eleven years, finally coaxed the pair over to its own corner of the air, last April. Since then that 15-minute early evening spot has been NBC's headache...
...ahead of 1938's subnormal level, auto sales clearly justified no production revival to the not so high 1939 peak. General Motors' Alfred P. Sloan Jr., long bullish, complained last week that the spring recovery had fizzled: G. M.'s May sales fell 3,559 from April, the industry sold about 10,000 units more than in April, but not so many as in March...
Government Securities: To check the rise in Government securities in March, April, May, the U. S. Treasury had various Government trust funds sell $90,000,000 of their Governments, but investors with nothing better to do in the last two weeks bid Government securities up to new highs (over 114), thereby reducing interest rates to metaphysical fractions. So New York's great National City Bank complained for all U. S. banks (who now have 60% of their funds invested in Governments): "Treasury bills [are] selling at the virtually non-existent yield of 0.004%, and all maturities of Treasury notes...
Stocks: Stocks turned weak without a new high for the rails which would have "confirmed" the industrials' last peak (TIME, June 5). The market, unresponsive to Hopkins' optimism and the steel rate, last week lost nearly a third of its gain from 1939's April...
...Chief issue in the big April-May coal strike...