Word: generale
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Dates: during 1940-1949
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...General Electric Co.'s net of $21,060,037 was off about 28%. But second-place Westinghouse had turned in $20.5 million, a 109% gain that pushed it nearly abreast of its giant rival. Westinghouse's President Gwilym Price gratefully added 40? to the usual 25? quarterly dividend and Westinghouse stock joined the big group* of those who boosted dividends and made new highs on the big board...
...Peak. The great roaring bull market had reached its peak on Sept. 3, when U.S. Steel hit 261¾, General Electric reached 396¼, Radio Corporation of America passed 500 (on a pre-split basis), and the Dow-Jones industrial average reached its alltime high mark of 381.17. In the same week that Adams Express, an investment trust, split its stock 10-for-1, the stock jumped 100 points. As October came there was a series of severe shakeouts. But few took them as a warning. Smart operators thought a setback was only a golden chance...
...Burial. Prices steadied, but on Monday the selling began again. Steel tumbled to 186, General Electric lost 47⅛ points. Tickers again fell nearly three hours behind, and again thousands of new margin calls went out for the money that couldn't be begged or borrowed. Thus came "Black Tuesday...
Died. Edward R. Stettinius Jr., 49, U.S. industrialist (General Motors, U.S. Steel), onetime (1944-45) U.S. Secretary of State, later rector of the University of Virginia; of a heart ailment; in Greenwich, Conn, (see NATIONAL AFFAIRS...
...much what Robert Graves's new novel is all about-except that peppy Ysabel doesn't join the admiralty until the last quarter of the book, while the gold rush occurs in the first three-quarters and is led by Ysabel's husband, who is a general...