Word: marketeers
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Dates: during 1930-1939
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...Jones industrial averages showed a net gain of less than 3 points for the week. Daily trading on the New York Stock Exchange never reached 1,000,000 shares.* Yet Wall Street had what Owen D. Young calls a "feeling in the seat of the pants" that the market had turned a corner. From a recovery high early in March to their low in June the Dow-Jones industrials dropped approximately 15%, from 194.4 to 165.5. By last week they were back to 172.2. Mercurial shifts in Wall Street sentiment can never be adequately explained but the chief contributing factors...
While war talk is a stockmarket depressive it is always a shot in the arm for the grain market. As the bumper U. S. wheat harvest rolled north last week, the red cereal soared to a high of $1.26½ per bu. on the Chicago Board of Trade, registered a net gain of 10? for the week. Even more important than war talk was the disastrous failure of the wheat crop in Canada, where drought & rust in the past few weeks have cut 150,000,000 bu. off early estimates of the Dominion's harvest...
...year it capped its historic record of operations in the red with an all-time high deficit of around $1,000,000. What finally precipitated the obsequies, outsiders were not told, but shutting off this one big drain on Hearst resources could have only a beneficial effect upon the market for securities which Mr. Hearst was planning to sell. Delayed in passage for weeks by successive amendments had been his registrations with the Securities & Exchange Commission of $35,500,000 of debentures- $22,500,000 for Hearst Publications, Inc., $13,000,000 for Hearst Magazines, Inc. (TIME, April...
...were the awe of London and owned a model farm in Surrey on which he raised 600 thoroughbred pigs even fatter and greasier than their owner. In 1935 "Pepper King" Bishirgian joined with his friend "Tin King" John Henry Charles Ernest Howeson in an attempt to corner the pepper market. When a bumper crop threatened their corner, they resorted to a fraudulent stock issue which brought several old commodity firms to bankruptcy, cost the public many a million, landed Kings Bishirgian & Howeson in jail and London's pepper market in thorough disrepute (TIME, Feb. 18, 1935 & March...
...guard against the fluctuations which characterize Mincing Lane pepper trading, margins are closely regulated on the New York Pepper Futures Market, daily fluctuations are limited to 1? per lb. per day and pepper stocks must be kept in licensed warehouses subject to inspection. The trading unit is 33,600 lb. of Lampong (Netherlands East Indies) black pepper, with Aleppy and Tellicherry (British India) as optional deliveries. Pepper prices are currently very low (6? per lb.) because last year's crop was the largest in history (87,000 tons were shipped) and there is now a glut of pepper...