Word: dowe
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Dates: during 1940-1949
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Stockmarket. Last week the market cast off its summer fears. In only four full trading days it traded 3,280,000 shares, rose four points on the Dow-Jones industrial average for the second week in a row. Before the week's end the average was up to 134.54, only 14 points below where it had been before it fell in May with Flanders. Index of last week's market spirits: money was going back into the highest-grade disappointment of recent years, New York Central common (up 11 points), and other more frankly speculative rails...
...Arnold produced huge headlines, vague stories about defense-hindering control of U. S. patent users by the German firm of Krupp. He had designs on a number of industries in which foreign patent tie-ups were said to be restricting U. S. production, among them magnesium, whose chief producer, Dow Chemical Co., has built an independent U. S. magnesium industry (using sea water as ore) from its own smart research. Arnold also got off a phrase about "economic fifth columnists" which he later tried to define, finally retracted. The vagueness of his charges, coupled with the fact that no indictments...
Last year, both U. S. world's fairs lost money, and for the same reason: sub-estimate attendance. This year, both fairs reopened under new management, new policies. Banker Harvey Dow Gibson took over New York's World's Fair of 1940, cut prices and stressed "Fun!! Fun!! Fun!!" at Flushing Flats. Chamber of Commerce President Marshall Dill and Vice President William Monahan took over San Francisco's Golden Gate International Exposition, cut prices and sloganed: "Let's have a good time" at Treasure Island. Last week the Dill slogan looked a little better than...
...months ago, the Battle of Flanders sent the New York Stock Exchange into a tailspin, forced the Dow-Jones industrials average to its lowest point since 1938 (111.84). Result: many a U. S. corporation that had planned new financing ran for shelter instead. The capital market crouched for a long, scared wait...
...popular and publicity success, the New York World's Fair of 1939 was a financial flop. By midseason, exhibitors and merchants holding $28,000,000 of its 4% debentures had forced out overconfident Grover Whalen, put Banker Harvey Dow Gibson (Manufacturers Trust Co.) in charge of the books. In September, to help the Fair pay its bills, bondholders had to sacrifice their 40% lien on the gate receipts. During 1939, the bonds dropped from...