Word: highly
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Dates: during 1940-1949
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...bigger dividends. Chrysler, for example, which had turned in a third-quarter net of $45.4 million v. $24.1 million in the 1948 period, raised its $1.25 quarterly dividend to $1.50. The stock went up 2⅛ points in the next day's trading, to a new 1949 high...
...production at a peak, General Motors pushed third-quarter sales to $1,580,405,459, up 32%. Its quarterly profit of $198.7 million v. $120.3 million in the 1948 quarter was the biggest in corporation history. In expectation of an extra dividend, G.M. stock rose to a new 1949 high of 68. But General Motors' President Charles E. Wilson and Chrysler's President K. T. Keller both warned that the steel strike had hurt even if it should end this week...
...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...
Then, at 2 p.m. on Wednesday, Oct. 23, something like panic began. There seemed to be no reason for it, but everybody began to sell. In that final hour of trading, 2,500,000 shares changed hands and prices tumbled crazily: Auburn Auto, which had recently sold as high as 514, lost 77 points to close at 260; Adams Express, which had once been up to 750, lost 96 to close at 440. The closing bell stopped the selling. All night, brokers sent out frantic telegrams to the hundreds of thousands who had bought on margin, putting up as little...
...With the opening gong, the selling wave began. By noon the tickers were so far behind sales that nobody had a way of finding out what actual prices were. Auburn Auto tumbled another 70 points to 190; U.S. Steel broke to 193⅛, down 68 points from its recent high...