Word: bearishness
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Last month 91 companies passed dividends. In September last year the number was 19. Yet dividend statistics for the first nine months of 1930, compiled last week by the New York Times, refute the bearish implication of the 91 omissions...
...Dividend. Although British financial realms have been inundated with such bearish items as last week's dividend omission by United Molasses Co. Ltd., long a British bluechip, one bright announcement shone forth last week. Austin Co. (automobiles) declared a 60% dividend. Last year Austin paid 20% payment after having paid nothing since 1918. It has no connection with American Austin except in the considerable personal holdings of Sir Herbert Austin...
Copper. Following last fortnight's bearish statistics on the copper situation (TIME, Sept. 22), prices were again revised last week. Big producers who had been quoting 11? dropped to 10¼?, then 10½. Custom smelters slashed their price from 10¼? to 10½. Rumors were rampant that many large properties would soon be closed down. Although bulls found solace in the report that Western Electric during the past six weeks has bought enough copper to supply the Bell System's needs for four months, and other large consumers likewise think the present levels attractive, bears replied...
...which Business awaits. Especially encouraging was the strong bond market. From Massachusetts, where about a year ago was sounded the dismal warning which none heeded, last week came a bullish statement. Statistician Roger Ward Babson, 1929-5 most famed "Prophet of Doom," made his first modification of his very bearish stand of last year, his first general recommendation to buy stocks since 1924. Stocks suggested by the Babson Statistical Organization Service were divided into two groups. "Good yield" stocks were: National Dairy Products Corp., General Foods Corp., North American Aviation, Inc., Texas Corp., American Smelting & Refining Co., Utilities Power & Light...
...other nation at present is Great Britain. Few bullish items appear any more in its financial papers; article after article tells of mysteriously shrunken profits, disgruntled shareholders, deep depression. Last week, although imports of gold from Brazil balanced the steady drain of British gold by France, Britain turned more bearish. Unemployment, steadily rising throughout Europe, passed the 2,000,000 mark in Great Britain last week, the worst since 1921. Further increase seemed certain...