Word: breaking
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Dates: during 1920-1929
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...with the advice of George V. Before the War at least one paramount decision was taken by the crowned head alone. The situation was that the House of Lords persisted in vetoing bills designed to reduce its power which were repeatedly passed by the Commons. The only way to break the Lords' veto was for the King to appoint (or threaten to appoint) sufficient new Peers pledged to pass the bill to outnumber the Lords who were opposed. The Commons were legally impotent to force George V to take this step. A rash King, or a stubborn...
Bulls called this reaction "corrective," "salutary," "reassuring." But the market's stubborn bears held it an omen of a real break to come. On the same day, Economist Virgil Jordan of the National Industrial Conference Board, spoke Spanish words at the Hotel Astor (Manhattan). He warned: "Prosperity in the present situation is rather a state of mind than a fact. ... It is an illusion created by extraordinary financial conditions, by exceptional activity in production of certain types of goods. . . ." These goods, he noted, included many luxuries, few necessities. He cited depression in industries producing food, clothing, coal, transportation...
Able theorizer Col. Leonard Porter Ayres of Cleveland, stubbornest bear, again prophesied a market break. Last summer (TIME, July 23) Economist Ayres saw the stockmarket as "a great national bet against the continuation of high interest rates, and since the Federal Reserve authorities can hardly reverse their policies . . . the decision will probably be against the stockmarket with ... a serious decline in stock prices before the end of the year." With only six weeks of the year left, Economist Ayres last week failed to mention the Federal Reserve, was far less emphatic, based his bearish innuendoes on precedent. He noted...
...representatives in the field last Saturday sets a high standard for more regular activities in Cambridge. The very words "normal routine" have a some what distasteful ring in the ears of the Vagabond and he fears that today's lectures will suffer an inevitably allied taint. Perhaps the break from the glorification of the week-end when more than one Vagabond was king for a day, had best be made at one plunge. With this in mind the Vagabond recommends the lecture by Professor Holcombe to be given today in Harvard 2, on "The Rule of Reason". Other lectures which...
...history of the Harvard-Yale football series is one of the rise and fall of two great waves of victory, interrupted with only an occasional break. For 32 years, from 1876 to 1908, Yale rode the triumphant crest, driving all, Harvard teams before her at will. Only three victories were snatched by Crimson elevens during these years...