Word: long
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Dates: during 1920-1929
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...figurehead is President Hearst Jr. Ten hours at his desk is no long day for him. Seriously a journalist, ambitious, he dislikes Manhattan but wants to make a success of his job. No less a pundit than Herbert Bayard Swope, onetime chief of the New York World, is said to have boomed at Songwriter Irving Berlin of Hearst Jr.: "He is the most promising young man who has come into the profession of journalism during my lifetime...
...subjects for polite conversation. There had been unwholesome tales of Gauguin, the stockbroker who deserted wife and child for the allures of Tahiti; Cezanne, the vitriolic rebel of the '90s; Van Gogh, the lunatic. They had been accused of "war madness" and of corruption. But such misgivings had long been allayed. On Monk's cloth the canvases hung, beauteously framed, expensively lighted. All around stood pillars of society. Together they murmured with Sir Joseph: "Wonderful, marvellous...
...future of U. S. industry was boundless, that there was no limit to the potential value of U. S. securities, where could the line be drawn between farsightedness and folly? Speculation is the shadow of industry thrown forward on the wall of the future. It had been thrown a long way forward during the late Bull Market, its size swollen, its perspective distorted. But though it was a magnified picture, it was not an imaginary picture. Behind the shadow of Speculation there was still the substance of Prosperity...
...Manville at 242? Radio at 114?here were bank-branches with a topheavy proportion of notes to cash. Even the biggest and most secure branches, such as General Electric, American Telephone &Telegraph, United States Steel, constituted inflated currency when their securities stood at 403, 310 and 261 respectively. So long as the depositors did not begin to brood over this inflation, no harm was done. But so soon as the lines started forming at the paying teller's window, the Crash was inevitably swift...
...Market crashed without warning) was of tremendous importance in its indication that a Market which could survive only by constant rises had reached the limits of its climb. 3) Most important of all, indications of a slowing tempo in U. S. industry. The motor stocks, for example, had long since fallen from their January highs?a forecast of slackening production in the latter portion of the year. Now steel mills were no longer running at 97% and 98% of capacity. Slowly the Market began to realize that 1929 might be an abnormal year, a high-water year instead...