Word: gay
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Dates: during 1930-1939
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Before Charles Richard Gay was elected president of the New York Stock Exchange last spring, the senior partner in the conservative old Wall Street firm of Whitehouse & Co. had lived his 60 years obscurely in bourgeois Brooklyn. But the very fact that he was a personal unknown made him a likely candidate for the tough job of reselling the Stock Exchange to a suspicious public...
Though President Gay indulged in no spectacular upheavals upon assuming office, he did display an amazing talent for public relations. He went to Washington for a friendly chat with SEC officials. He closed, almost symbolically, the Exchange's ''Washington Embassy," a rented mansion from which his predecessor, Richard Whitney, conducted his futile fight against the Securities & Exchange Act. In his own bailiwick President Gay lifted the cloak of surly secrecy which had always surrounded even the most trivial Exchange affairs. He submitted graciously to innumerable interviews. He stumped the land hammering home his simple thesis...
Having in six months established a solid reputation as an able, honest, forthright administrator. Charles Richard Gay stepped out last week as a Public Figure. In a speech before a Manhattan meeting of the American Management Association he took a bold grasp of a nettled question which few politicians-let alone the head of the biggest and most volatile U. S. stock exchange-would dare to handle on a public rostrum. Said...
...present, Mr. Gay found speculative credit conditions sound and no evidence of market inflation...
Before taking stock of "our financial fire-fighting apparatus," Mr. Gay declared: "I am not an alarmist but we should not close our eyes to the inflammability of the materials we are dealing with and to the fact that inflation, if it should once get started, might sweep through the markets as fire sweeps through a city of wooden houses...