Word: marketeers
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Dates: during 1930-1939
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...proceeded to oppose such New Deal innovations as NRA, such New Deal largess as AAA and the $4,800,000,000 Relief bill of 1935. To his constituents' demand that he vote for the Relief bill, he replied: "Much as I value votes, I am not in the market. I cannot consent to buy votes with the people's money...
Back for another run last week was that familiar U. S. drama concerning joy in the market place and despair on the farm. While drought withered crops and pastures in a score of states, the nation's commodity markets staged the most exciting show since the great drought of 1934. A large part of the entire U. S. spring wheat crop was but worthless stubble. Winter wheat on the other hand had already been mostly harvested. Early in June the price of wheat was less than 85? per bu. Last week it sold as high as $1.10. In corn...
...consumption has climbed to new records, and further reductions are expected in the U. S. carry-over of 7,000,000 bales, last of the U. S. Depression surpluses. About half of this carry-over is controlled by the Government. But the Government did get out of the futures market last week for the first time since 1929, when Herbert Hoover's Farm Board first plunged headlong into the private cotton business. Reports were that the Cotton Pool cleared its books by selling a 25,000-bale futures contract to Speculator Jesse Livermore who is currently making...
...sharpest weekly gain since the 1933 inflation scare. Only items likely to be depressed by drought are meat and hides, and those only temporarily. Slaughtering of cattle in drought areas increases the immediate supply. No trade was more agog about the commodity boom last week than the butter market. Like eggs, butter has an annual cycle in prices and production. Production of both butter and eggs touches bottom in November and December, then rises to a spring peak, eggs in May, butter in June, when pastures are usually greenest. Consequently butter prices are generally lower in summer than in winter...
...After a turnover of 51,000,000 shares for March, Stock Exchange sales dropped off to 39,600.000 in April, 20,600,000 in May, and recovered hardly at all in June (21,400,000). It seemed unlikely that full blame for the slump could be laid on outside market factors...