Word: buying
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Dates: during 1950-1959
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...before are jamming the narrow, sloping streets of sun-bleached, wind-bathed Provincetown, Mass. (pop. 3,600) on the tip of Cape Cod's hook. They shuffle barefooted and clop-clop in Japanese sandals; they peer at bronzed fishermen and pack swank souvenir shops; they fill the galleries, buy works of art. A town that has attracted art devotees for more than half a century, Provincetown has in 1958 become the U.S.'s undisputed summer art capital. The reasons: a new arts festival and a new art museum-both resulting from the aurous determination of Multi-millionaire Walter...
Finally moving on to Brussels via Paris, the ballet troupers scoured Parisian shops for all the shoes, Pancake Make-Up, eye shadow, nets, Kleenex, false hair, powder puffs and bobby pins they could carry. Wardrobe Master Leslie Copeland flew to London to buy white shirts for the men. Upon his arrival in Brussels, well-heeled Director Lucia Chase and company members cut off the incongruous pockets. The U.S. embassy in London scissored red tape to arrange immediate funds for air-freighting costumes, put the Rambert Giselle score in a Brussels-bound diplomatic pouch. In Brussels itself, one especially vital consignment...
Though Wall Streeters are uneasy about the swiftness of the rise, few expect a substantial selloff. Earnings and dividends are now more secure* than they were a few months ago, and many institutions are waiting for a dip to buy. What Wall Streeters call the "350 Club"-the bears who saw the industrials declining to that level last winter-has been dissolved; it has been reorganized as the "450 Club." But these analysts could be wrong again. "There are hundreds of professional investors and institutions who go down on their knees at night, praying that the market will return...
...drop in U.S. bonds stemmed largely from speculation. Because there is no margin requirement on Government bonds, speculators have been able to buy them for as little as 2% in cash. Last winter and spring, as credit eased, speculators correctly guessed that Government bonds would rise. Buyers poured into the Government bond markets and made a killing, as competition among bond buyers pushed prices of new issues far above par. For example, the 3½% bond that came out in February was bid up to 107.10, a price that gave speculators a profit of 250% on their actual cash investment...
...attempt to halt the drop, the Federal Reserve Board fumbled the job, adding to the trouble. The Fed, which regularly buys 91-day Treasury bills as part of its normal operations, cryptically announced that it was "broadening" its open-market operations. This led many to believe that the Fed intended to buy enough long-term bonds to cushion the market; it gave courage to the market, attracted buyers back into bonds. But the Fed's purchases were limited to buying $1 billion of one-year certificates to aid the Treasury's July refinancing operation. As the effect...