Word: market
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Dates: during 1950-1959
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...ordered $1,000,000 worth of goods and reports a 35% jump in sales for the first eight days of 1959: "Last year the buyers at the show were all just walking around looking, with long faces-this year they were all smiling and buying. It is the greatest market I've ever seen...
...Chicago show the new word in the furniture men's vocabulary was "elegance.'' To tempt the growing U.S. luxury market, the buyers want-and are getting-better designs and higher quality. Prices may go up 3% or so in 1959, but for his money the consumer will get better furniture. Said one Seattle retailer: "There was a long period when manufacturers had atrocious taste in furniture-that day is gone...
...fights in the City's history. The victors: Britain's aggressive Tube Investments, Ltd., and Reynolds Metals, No. 2 U.S. aluminum company. Down with the British Aluminium management went Alcoa, No. 1 U.S. producer, which had hoped to get an important foothold in Europe's aluminum market by buying one-third interest in British Aluminium. Also among the casualties: the prestige of Britain's old-school-tie financial community...
...Portal of Hungerford. got stockholder approval to boost the firm's shares from 9,000,000 to 13,500,000, sell the extra shares for expansion capital. Portal decided that the U.S. company he wanted as a partner was Alcoa. Last October Alcoa offered $8.40 a share (the market price) for the 4,500,000 new shares. Total: $37.8 million...
Counterattack. Then Reynolds struck the final blow. It went into the open market for all Aluminium shares that stockholders wanted to sell. The market rose to $11.90. At week's end Reynolds held directly nearly one-half of all shares outstanding, had even picked up 260,000 shares that the Church of England's Commissioners, who handle the church's investments, unloaded at a profit of about $1,000,000. Reynolds' investment: around $40 million. In addition. Tube and Reynolds upped their stock-swap offer to $12.32, got enough additional stock to raise their total holdings...