Word: marketeers
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Dates: during 1930-1939
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...Treasury sat ruddy John Wesley Hanes, Under Secretary, brooding over the dropping British pound, the effect of a war on U. S. money, the certain crashing raid by foreign security holders on the "thin" market of the New York Stock Exchange. Hanes, a positive, bluff, solid man, oddly inconsistent with the cold background of his Treasury office-icy-eyed portraits of former Secretaries, ancient shiny red-plush drapes, a cool white-marble mantel-arrived every morning last week at 7 a.m. (noon in London) to telephone his boss, Secretary Henry Morgenthau Jr. in Finland, Sweden, Norway; to telephone...
Month ago, in mid-July, the stock-market started to go through the roof. Topped off by four million-share days, the Dow-Jones average hopped ten points (to 144.71) from July n to July 21. It seemed almost within reach of its 1939 high (154-85) and its 1938 high (158.41). Last week stock which was sold at the July peak could be bought back for ten points less. Those who profited by this turn of events were chiefly professional traders. SEC has since reported that at the peak, in the last half of July, while the public...
...Market? There were indications that Nazi deviltry was not wholly responsible for last week's bearish market. Stocks rarely go up when falling commodity prices reflect business unwillingness to bid for materials for future use. This unwillingness was already apparent by July 22 when the Department of Labor's wholesale price index fell sharply on its way to a new post-Depression low (74.8% of 1926), again in early August when both the Dow-Jones Index of future commodity prices and Moody's index of spot commodity prices slumped sharply...
...York highways tight-lipped pickets of the new Dairy Farmers' Union halted market-bound trucks, spilled thousands of gallons on the roadsides. Strikers in automobiles threw bottles of kerosene on trucks that did not stop. Pickets fought State troopers, deputies and non-strikers. One man, slow getting out of the way of a charging milk tanker, was killed. A New York Central train with a load of milk was stalled on greased rails...
...less than the previous year, 69.4% less than the high of the 20s (10,927,000 bales). To top this, the Census Bureau announced its count on the U. S. carryover of cotton: a record total of 13,032,611 bales, up 1,499,172 from last market year's hoard...