Word: market
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Dates: during 1940-1949
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...Rock of Gibraltar, sagged to a two-year low, then rallied slightly. The scare caused a shiver in Wall Street, where the ten-week long upswing in stock prices suddenly halted. The Dow-Jones industrial index dropped 3.85 points from the July high of 187.66. This week the market slipped off again, with steel and automobile shares leading the drop...
Something interesting had been going on in the stock of Chicago's Butler Bros., world's largest wholesaler of general merchandise. As the market in Butler edged up last year, LaSalle Street was full of rumors about who was trying to buy Butler's stock. Last week the secret was out: the buyers were the potent Du Ponts of Delaware, and assorted relatives...
...thing had happened in 1941. A fabulously rich diamond bed was discovered in Tanganyika, Africa. It was eight times larger than South Africa's famed Premier Mine, previously the world's largest, and thus big enough to break the cartel's tight control of the diamond market. Even more worrisome to the cartel were signs that the new bed's discoverer, a bearded, scholarly Canadian named John Thorburn Williamson, 40, did not intend to join the cartel...
Last week, after months of iron-curtained negotiations, the cartel finally won out. Britain's Colonial Secretary, Arthur Creech Jones, announced in the House of Commons that Williamson Diamond Corp., Ltd. and two smaller Tanganyika producers had agreed to market their output only through the Diamond Trading Co., Ltd., selling agent for the syndicate...
...noticeable. General Foods Corp., which had been nipped by soaring grain prices, had six months' earnings of $8,136,000, down $800,000 from last year. But the big meat packers who had not yet reported, were expected to have whopping profits. Said the New York Sun: "The market is talking such enormous profits for Cudahy that it thinks a stock split is inevitable in order to temper the impact of the income on the public mind...