Word: illiquidity
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Dates: during 1937-1937
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...fearful that, in an effort to cure what might be termed sporadic evils, undue restraints are being placed upon normal, proper action, thus creating abnormal market conditions. Evidence accumulates that the quality of the market has been seriously affected. With muc concern I note the continuance of narrow, illiquid markets in which wide spreads between bid and asked quotations prevail and in which comparatively small volumes of buying or selling create undue fluctuations in prices. Almost daily, situations are called to my attention wherein it is impossible to buy or sell reasonable amounts of stock at reasonable prices. Orders which...