Word: cash-rich
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Copper executives are watching eagerly for the first volume buying that would spell the turn. Current earnings are running below dividends, but the cash-rich copper producers would have no trouble paying them if they thought the turn was at hand. Says Charlie Cox: "We're watching the economy. The pipeline is about dried out. It won't take much to turn prices when the economy perks...
...hotbed of tire bootlegging is Los Angeles. Reasons: 1) the city has a poor transportation system, rambles over 450 square miles; 2) Angelinos are cash-rich and conscience-poor. Last week one cinemactress laid out $800 for eight tires, had them hijacked out of her garage the very next night. And barflies bandied the story of a film writer who bought five complete sets of tires. Month ago police nabbed tire dealer Guy O. Bryan, were flabbergasted when he freely admitted selling $28,000 worth of new tires since Pearl Harbor. Gloomed an OPA official: "There is an uncontrolled reservoir...
...stock commission organization and entered investment banking on a large scale. It had previously participated in some offerings (Phelps-Dodge, Curtiss Airports, Petroleum Corp.), but never before was a large factor in distributing securities. To some Wall Streeters this recent vigorous expansion has suggested that E. A. Pierce & Co. cash-rich, is taking advantage of bargains. Other observers believe that little cash has been used. They say that E. A. Pierce & Co. has merely paid cash for the actual physical equipment, future payment to be dependent on the successful outcome of the acquired business. As accounts still active...