Word: dows
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Dates: during 1950-1959
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Will the tight money market get tighter still? Last week, Wall Street apparently feared that it would, and that worry, plus year-end tax selling and the Suez crisis (see below), sent stocks on the Dow-Jones industrial average edging down to 472.56, nearly 50 points off the peak last April. The tip-off to Wall Street was the U.S. Treasury's action: it had to offer an interest rate of 3.043% to sell $1.6 billion worth of 90-day bills, a rate slightly higher than the Federal Reserve's 3% rediscount rate. Traditionally, when the Treasury rate...
...flared and flickered last week, the New York Stock Exchange reflected the developments hour by hour. Led by big international oils like Gulf, Royal Dutch Shell, Standard Oil (N.J.), some stocks bounced up more than two points in an hour, then slipped back. By week's end the Dow-Jones industrial average had dipped to 480.67 for a 4.68-point loss. Only steels were consistent gainers, and there the star was Lukens Steel, makers of heavy steel plate for ships. Jumping as much as 12 points a session, it shot 34½ points higher during the week, closed...
...Last week the maxim once more proved true. The news from Egypt set off the widest break in the New York Stock Exchange since the President's ileitis attack of June 8. Led by Royal Dutch-Shell. Gulf Oil and other oil companies with large Mideast holdings, the Dow-Jones industrial average dropped 6.62 to 479.85. But when the President pledged "no involvement." the market bounced up again. At week's end the market had more than regained its losses...
...military action hit Chicago's mammoth Board of Trade, a flood of orders overwhelmed the grain pits, turned them into a bedlam as traders bawled bids and offers. Wheat, corn. rye. cotton, soybeans, lard-just about everything except onions-soared on the prospects of war shortages, sent the Dow-Jones Commodity Futures Index up 1.66 points to 165.79 for the largest one-day advance in 2½ months...
...Sicily love, like honor, is a potent force, and one night when the larks were still in the mountains overhead and the dew was heavy on the cyclamen, Antonina lowered a note from her win dow on a long, silken cord. On it was written the single word "Giuseppe." Giuseppe received it on bended knee, unable to move for sheer adoration. The following Sunday, when Antonina's mother went to waken her daughter, she found her gone. "Those two young doves," said a villager as he told of it later, "had flown." That afternoon when the doves had returned...