Word: indexed
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Dates: during 1930-1939
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Trying to make headway under present circumstances upset market custom. Resigned to heavy industry stagnation, bulls turned to consumer stocks. Last week they bid up Barren's index of retailing chain stocks to the highest level since the August 1937 bull market. Such perennial market favorites as Chrysler, U. S. Rubber and U. S. Steel were forced to share popularity with stocks which speculators seldom bother with: food stocks-Standard Brands, National Biscuit, Kroger Grocery -even such a market bush-leaguer as Safeway Stores (third in number of stores, second in sales volume among U. S. food chains). Meantime...
...their low inventories, too, the conspicuous retailing chains are exceptional, not typical. Two important evidences of continued inventory trouble-which augurs more production curtailment instead of imminent recovery-were available last week from 1) the continued fall of the Bureau of Labor Statistics index of all wholesale commodity prices, and 2) developments in the textile and steel industries...
Production. Very different in one respect was last week's upturn from that of a year ago. At that time the Federal Reserve Board's index of production fell two points in April, one point in May, turned in June, was on its way up in July (although reported several weeks late its trend can generally be anticipated from weekly figures on various industries). Last week the Board's index reported a six-point drop for April, and May production was guesstimated at 90, June still lower...
...thing the cotton textile industry has never been accused of is monopolistic tendencies. One of the biggest sources of U. S. payrolls, a weighty factor in the Federal Reserve Board's production index, the cotton textile industry is composed of 1,000 desperately competitive and generally unprofitable mills. About the only check on production the industry knows is the capacity of its warehouses. As long ago as last October the warehouses held over 150,000,000 yards of print cloth, about three times as much 'as was sold that month. But the mills, as is their habit, kept...
...Estimates of the total loss of purchasing power ran as high as $100,000,000. Though last week's settlement came in time to prevent large-scale stoppage of factories, ships or railroads, the effects of the strike will continue to be evident in chart and index for weeks to come...