Word: broker
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Died. Arnold M. Johnson, 53, Chicago-born tycoon who worked his way up from a $75-a-month broker's apprenticeship to the vice-presidency of Chicago's City National Bank & Trust Co., later (1954) bought (for $3,500,000) the Philadelphia Athletics and moved the team to Kansas City; of a stroke; in West Palm Beach...
While there was a great deal of bearishness in Wall Street, there was still a strong difference of opinion about where the market was going. Many a broker felt that the decline had strengthened the market's stability by improving the price-earnings ratio of stocks and narrowing the spread in yields between stocks and bonds. (The spread has also been narrowed by the comeback of the bond market, which has caused the biggest drop in most bond yields in more than a year.) The market itself, having cleared its head of overoptimism, is now taking a more realistic...
...mourned its passing. Cried the New York Herald Tribune: BULL MART ENDS 10-YEAR REIGN. What lured the Tribune out on a limb-and prompted other hasty obituaries of the bull-was an oldtime market tool known as the Dow Theory, fathered by Charles H. Dow, a onetime broker and newspaperman, who founded Dow, Jones & Co. in 1882. The Dow Theory holds that when the Dow-Jones industrial average breaks through its previous low and is confirmed by the rail average penetrating its previous low, Wall Street is in the grip of a bear market. Both averages did just that...
...unshriven sins. The trouble is that restless Lincoln is a job jumper-he has headed four corporations in the past decade. Is he a phony? Lincoln Lord himself is not sufficiently introspective to consider the problem, and this is his great strength. When things are looking black as a broker's Mercedes, he wangles the presidency of a small cannery, and his wife chides herself for ever having thought him weak. "This was the real man, the man she had fallen in love with, the man she had married...
After he retired in 1948, Stillings' hotel room grew more cluttered with company reports and market letters. Every so often he rode to New York on his lifetime train pass to visit his broker; sometimes he traveled all the way to Florida to look at real estate. And ten years ago the University of New Hampshire, where Stillings graduated in 1900, got an idea of what the old alumnus was up to. He gave the university a small scholarship fund of $200 a year for one student "of good scholastic ability, sound character and unquestioned loyalty...