Word: marketeers
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Dates: during 1930-1939
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Saving grace of these circumstances was that brokers' loans last week stood at only $779,000,000, lowest point since April 1935. To businessmen who have wondered whether the current market troubles presage a major catastrophe such as occurred in 1929, this low figure was a bulwark of optimism. It proved that Wall Street credit was not over-extended as it was in 1929 when brokerage loans toted up over $8,000,000,000. Except for this strong argument the Reserve Board would almost certainly not have yielded to the Wall Street demands for lessened Government restriction...
...reduced margin on stock purchases was no empty gesture, however. Although it was an open admission that the Government was worried over the state of the market and could, therefore, be considered deflationary, on the day after the announcement stocks vaulted up. General Motors opened with the sale of 5,000 shares up $2.75 to $43.63; Chrysler with 10,000 up $5.25 to $74.75; U. S. Steel with 15,000 up $4.25 to $62.63. Prices presently lagged but closed in a final sprint which left the Dow-Jones industrial averages up nearly three points for the day. By week...
...recent weeks a rather marked falling off in shipments to customers occurred, resulting in an October average to date of approximately 54% of capacity." Next day, despite this warning, U. S. Steel common, which only a few days before had scraped bottom at $51.12 led the whole market upward with a rush, closing...
...York Stock Exchange installed a high-speed ticker service of N. Y. Quotation Co. The new tickers printed 500 characters a minute instead of the 300 characters of earlier machines. To the despair and confusion of brokers and speculators, however, tickers still run far behind the market whenever trading waxes fast & furious. Last week, for example, the ticker was several minutes late on four days. One mad day fortnight ago it fell 22 minutes behind, leaving traders groping in a mist of uncertainty. Last week the Stock Exchange fathered a new scheme to help keep traders up-to-the-minute...
Early this week, though steel production dwindled to 52.1%, U. S. Steel perversely led the market back up the ladder, $6.13 up to close at $58.63. Rails were full of vigor, but Chrysler was the most spectacular stock of all, jumping $9.50 to $69.75. Highlight of the 2,000,000-share trading was a 51-minute "reverse air-pocket" during which a would-be buyer of 5,000 shares of Chrysler could find no offering...