Word: market
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Dates: during 1920-1929
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...Democrats were not inclined to criticize Mr. Raskob because of the stock market, Republicans were. Last fortnight in the Senate, Democratic Leader Robinson of Arkansas attributed in part the recent market crash to a flow of unduly optimistic statements from Calvin Coolidge, Herbert Hoover, Andrew William Mellon. Defending the Republicans, Senator Robinson of Indiana rose to blame Mr. Raskob for the frenzy of speculation. He called Mr. Raskob a "plunger," cited Mr. Raskob's published faith in stocks, his plans for a workers' investment trust, his null General Motors statement (TIME, Feb.11) as public inspirations to gambling, responsible...
...responsible for this stock crash," wrote Senator Carter Glass of Virginia last week to the Philadelphia Record. He?Charles Edwin Mitchell, head of National City-Bank?made no reply. Hostility of Senator Glass was an old story; besides, Mr. Mitchell had serious troubles to cope with. The still ominous market; the cancelled Corn Exchange merger; the rumored differences with his directors?Mr. Mitchell's position was carrying hazards with its honors...
...spite of, or rather, because of, his high position, a new and current flock of troubles has risen to plague him. In April, when he pulled the call money market through a tight place, he received general kudos (though it was then that Senator Glass first began to reflect upon "Mitchellism," its nature and evils). But in October Mr. Mitchell arrived home from Europe just in time to anticipate the greatest Market crash in history with a bullish pronouncement. When the banking consortium was formed to halt the panic, it was the House of Morgan that received most...
...Then, last week, the proposed absorption of Corn Exchange Bank fell through. Merger terms permitted Corn Exchangers either to exchange their stock for National City on a four-fifths for one basis or to receive $360 a share each. When the Market crashed, Corn Exchange stock accompanied it, at one time reaching a low of $160 per share. Obviously Corn Exchangers would gladly take $360 a share for their stock; equally obvious was National City's reluctance to buy up the entire Cora Exchange capitalization at a point far above its market value. Therefore National City stockholders refused to ratify...
...list of those who will take part in the coming meeting reflects both the importance and the purposes of the Society. A round table discussion of "The Money Market in 1929", to take only one example, can hardly fail to be stimulating and instructive under the leadership of Mr. Burgess of the New York Federal Reserve Bank. And anything that such men as Dr. Vanderblue, Professor Crum, and Colonel Ayres may have to say on the general business situation may well be of national interest...