Word: margins
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Dates: during 1930-1939
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...chalk marks on the butter board have made many a fortune and where some 450 brokers trade eggs as "Fresh Gathered Firsts," "White Standards," "Dirties." Unit of futures trading is a carload lot-300 tubs of butter, about 19,200 lb.; 400 cases of eggs of 30 dozen each. Margin requirement for a carload of butter...
Pleasantest discovery for brokers was that for dozens of stocks the Act's tentative margin requirements were actually lower than those demanded by the New York Stock Exchange. The 45% margin formula had loomed so large that the alternative formula had been almost ignored. The second formula permitted loans up to 100% of the lowest price of the previous three years but not more than 75% of the current price. Though the Act arbitrarily set July i, 1933 as the starting point, a customer could legally trade in a stock like U. S. Steel on a 25% margin...
...cutting edges had been removed. No longer is a banker both a broker and dealer by definition. No longer is a bank forbidden to loan on sound but unlisted local securities. The odd-lot business and arbitrage are not annihilated by loose language. Even the much disputed margin requirements (45% for a starter) may be altered by the Federal Reserve Board. Most important of all the new Federal Securities & Exchange Commission, established to administer both the Exchange Act and the Securities Act, is given broad discretionary powers to modify and exempt...
Peter Hammar was an expert lacemaker, and both he and his wife Hanna worked as hard as they could, but there was no margin of safety in the wages they earned for their growing family. As soon as Erland was old enough to leave school he went to work too, but then Hanna found she was going to have another baby. Other unremarkable misfortunes followed: Peter got blood-poisoning, their furniture was attached for taxes, a general strike made even honest workmen scabs. Their story ends in the midst of the strike, with nothing to lighten the horizon...
...president of the Cotton Exchange, rose with some misgivings from his gaudy throne atop a stack of cotton bales. "Frank Barton's got on tights!" the crowd sniggered. "Bet he's cool all right. Now he helpin' the Queen off the boat." Across an excited margin of sloppy river water stepped Queen Octavia Evans. "Ain't she pretty? Niece of Boss Eddie Crump's right hand man. She's supposed to be the Queen of Egypt. That's Gretta Garbo's own dress she's wearing-the one Gretta...