Word: marketeers
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Dates: during 1930-1939
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...horses to the obelisk on bosky Avenida Rio Branco, bottled old President Washington Luis up in jail and helped Getulio Vargas become President of Brazil. Washington Luis and President-elect Julio Prestes were both from Sao Paulo which was then sorely handicapped by the collapse of the world coffee market and unable to fight back. Since most of Brazil's 20 States, which figure in the world market only with such specialties as cocoa, Brazil nuts or carnauba wax (phonograph records), are merely so many jungle-choked, politically impotent drains on the Federal Treasury, this shift provoked no outcry...
...York's Commissioner of Licenses when he turned Tammany out of City Hall three years ago. Since the power to license is the power to reform, Commissioner Moss, who is as notable for his integrity as for his dapper dress, lost no time suppressing shortweight ice dealers, market racketeers, dirty magazine publishers...
Died. Frederick G. ("Teddy") Oke, 51, Toronto stockbroker; after a month's illness; in Toronto. A onetime hockey professional, he made a market killing in mining stocks, promoted many a women's sports team, sank millions in the International Hockey League. Ruined by the 1929 crash, he ordered his women's softball team disbanded last autumn when he discovered that the girls were smoking...
...such financial cynics as Pundit John T. Flynn, securities speculation is the moral and practical equivalent of a crap game. By more moderate theorists it is conceded the useful function of keeping markets liquid. Last week after President Roosevelt's fatherly warning to Government employes to stay out of the market (see p. 15), New York Stock Exchange President Charles R. Gay found occasion in Chicago to repeat the old argument for speculative liquidity, observing that "calculating, measured speculation has been a constructive force. . . .'' Right back at Mr. Gay came the Securities & Exchange Commission's David...
Accompaniment to these woodwinds of theory was the resounding brass of a world-wide market break more immediately illustrative of Mr. Saperstein's point than of Mr. Gay's. In London, where commodity prices cracked early last month after Franklin Roosevelt's pronouncement on their high levels (TIME, April 19), stock speculators rushed to sell on news of Britain's higher industrial profits tax. In New York the market slide which began in March became a small avalanche, carrying U. S. Steel common down 10 points to 98, Chrysler down 6, Allied Chemical down...