Word: market
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Dates: during 1930-1939
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Profits of U. S. corporations continued last week to reflect Recovery, thus encouraging the Stock Market to reach a new 1936 high. The 1935 earnings of 21 giant utility systems, representing more than 80% of the light & power industry, were estimated at about 10% above 1934 returns. The Interstate Commerce Commission reported that Class I railroads had a 1935 net operating income of $500,000,000 against $465,000,000 in 1934. Industrials were far ahead of 1934 but not nearly so far ahead as was indicated by early results. The Chicago Journal of Commerce reported that the first...
...mainspring of the potent International Tin Committee and a power in Empire affairs. The tin restriction plans which were incorporated in an international pact signed at The Hague in 1931 originated with an unsuccessful Howeson tin pool, which was stuck with embarrassing stocks of the metal in a declining market. Result was that the price of tin is now a matter of British Government policy and a stench in the nostrils of U. S. tin users, who have to pay what the Tin Pool charges...
...trial, Howeson's flier in pepper was a complete side-show for him. Garabed Bishirgian was a Howeson crony, and while transactions were for the account of a company headed by Howeson, the pepper trading was done through Bishirgian & Co. Messrs. Bishirgian & Howeson started to play the shellac market late in 1933, switched to white pepper in 1934 with the idea of cornering the world supply. By that summer the Howeson firm was loaded up with some $2,000,000 worth of shellac and about $5,000,000 worth of pepper-to be paid for in the future...
...Market, however, bubbled vigorously onward, surmounting an unfavorable TVA decision (TIME, Feb. 24), to close the week with stock averages about $1 a share higher than they had begun it. Many market favorites were selling at prices entirely out of line with any recognized ratio of market price to 1935 earnings, but Marketeers appeared satisfied that 1936 would be a much better year...
...banks have made newsworthy publicity. Union & New Haven (Conn.) Trust Co. began publishing a monthly called A Pepys Diary of Banking, a day-by-day account of the institution's routine. Sample entry: "Regular meeting of the trust committee. The Trust Company's own bond account reviewed; market value on Dec. 31, 1935 substantially exceeded book value. . . . Purchases and sales of more than 100 items of securities for 48 trust accounts approved." Another entry: "Temperature zero. Practically no one seemed in the mood to visit the bank today; lobbies quiet...