Word: market
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Dates: during 1930-1939
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Financial London was shocked. The market slumped badly. London financial papers described the excess profits tax as "crazy," as paving the way for "a Socialist Government to ruin the profitability of British Industry." Writing in the London Times, Economist John Maynard Keynes said: "It is like a tax on twins whose names are in the first half of the telephone book and happen to be born...
Covent Garden is London's vegetable market and its opera centre. For centuries it has been the playhouse centre too. Charles II lost his heart there to an actress named Nell Gwyn. Last winter a more reckless King lost his crown, and for his brother, who will be anointed this month, all Britain is preparing elaborate celebrations. None will be prouder than that of the Covent Garden Opera. For a month painters, carpenters and electricians have busied themselves inside the Opera House...
...complaint, however, the Government went far beyond allegations of monopoly and restraint of trade in the U. S., charging Alcoa with virtually rigging the entire world market, through its interests or the interests of its affiliates in foreign aluminum. Motive for this was alleged to be the company's desire to keep foreign prices high enough to discourage invasion of its U. S. preserve. Fifty years ago aluminum sold for $8 per Ib. Today it is 20?. Singled out by Attorney General Cummings was the fact that Alcoa hiked the price 1? last March just about the time...
...bankers' profits, Banker Hall said ruefully: "Today the market is full of recent bond issues contracted for in the hope of realizing gross profits of 2½% or less and now quoted at 5 to 10 points below their offering prices. ... In other words the profits are limited but the losses are not."As for criticism of banker directors, Banker Hall was frankly "puzzled." He held no brief for greedy managements or "corporate kidnapping." But he had found from experience that the "majority of companies are governed with a conscientious desire to do the right thing for the companies...
That originated in the Dowland Line offices in London, "in chancelleries, exchanges and banks of a few great capital cities." In London the decrepit condition of the Hestia was counted on to delay her cargo of sugar until the market was suitably rigged. When Captain Doughty arrived a week early. Sir John Dowland cursed and sent the Hestia off for a risky North Atlantic crossing...