Word: market
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Dates: during 1930-1939
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Moreover, in Washington there were going on an astonishing number of mysterious money meetings. The heads of the twelve Federal Reserve Banks were in conference, the Federal Reserve's open market committee was closeted all one day, the Reserve Board itself was in frequent session. At the Treasury, Secretary Morgenthau was meeting with such oddly assorted people as State Department experts, President George L. Harrison of the New York Federal Reserve Bank and old Oliver Mitchell Wentworth Sprague, the onetime Treasury adviser who quit the New Deal in a huff...
...instead of letting them seep into the credit system (TIME, Jan. 4), the threat of a further expansion in excess reserves has been largely removed. And with the present total shaved to a figure within the reach of the standard tools of credit control-the rediscount rate and open market operations in government bonds-Chairman Eccles is now battened down for a boom blow...
...cars. Dividends virtually disappeared. Nearly 25% of all railroad bonds went into default. Seventy thousand miles of line, nearly one-third of the total, went into the hands of the courts and 600,000 railroad workers lost their jobs. The biggest single customer of heavy industry disappeared from the market and the Government had to pass out more than $700,000,000 in loans to keep the wreckage afloat...
...upshot of all this is that a market has been made already for northern shrimps--the newspapers have made the public shrimp-conscious, especially in Maine--and several fishermen are planning to buy, or have already bought, the necessary equipment with which to begin shrimping. What success they will have is yet to be seen...
...northern shrimps are tender and delicious when cooked., and, at least to this prejudiced writer, quite as good as lobsters if not actually better. They average from five to eight inches long when market-sized. They are bright red in color, differing in this respect from the southern shrimps which are green, and generally live on muddy bottom in depths of 60 to 100 fathoms. That is not an easy place for small boats to reach with their limited gear. Fortunately the shrimps come into shallower water near the shore during the winter, where they can more conveniently be taken...