Word: level
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Dates: during 1920-1929
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...unit of pressure equal to the pressure exerted by a column of mercury 760 mm. (30 in.) in height, at sea level 0° Centigrade...
Recently, however, Manhattan has re-entered the competition. A building syndicate has acquired the block hounded by Lexington Ave., Depew Place, 43rd and 44th Sts., adjacent to the Grand Central Station. On this site will be erected a building rising 30 stories above the street level, and extending seven stories beneath it; it will he completed Mar. 1,1927. The new structure will be the largest office building in the world, since it will contain 21,000,000 cubic feet and have 1,350,000 square feet of office space?30,000 more than the General Motors Building...
Before finding fault, may I express my admiration for the way in which you handle in small space complex matters apparently accurately? It is often easier to write a book than a sentence. Because of this general high level of accomplishment, it seems worth while to point out a recent misstatement...
Recently, time rates have been considerably below bond yields, but with a tendency of late months to seek a common level. Col. Ayres believes that in the fall, with heavier commercial demands for money, time rates will rise. And this, he concludes, will result in a decline in both bond and stock prices...
Stocks and bond prices are high, commodity prices are in general firm or else rising, business activity increases. If affairs follow precedent, the fall should see larger advances of credit for commercial purposes, increased output, a stronger general price level and higher interest rates. The latter, together with a scarcer supply of credit, will presumably turn the stockmarket...