Word: marketeers
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Dates: during 1930-1939
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...stock subjects which he whips unmercifully up & down his column on the slightest provocation. Jesse Jones' slow ticker service and the Administration's silver policy are current favorites. He seldom passes up a chance to hop on fatuous statements, particularly those in brokers' market letters. Great was the glee of Hard-money-man Shively when he spotted a Treasury statement in which "lawful money" erroneously appeared as "awful money." Another typical Shively item appearing last December: "The latest issue (July) of the illustrated monthly magazine, U. S. S. R. in Construction, to reach this country...
...owned by General Motors, is GMC, which accounts for about 2% of the business. Reo's famed Speed Wagons and heavy-duties run about 1 % in the registration figures. Studebaker and Willys each make a few thousand yearly, and the rest of the truck makers share a tiny market that is growing tinier. Prosperity returned only to the makers of light trucks last year...
...agent of a British armament firm, Nordenfeldt's, gave him a job selling guns in the Balkans, at ?5 a week. Zaharoff was 28. Nordenfeldt made not only machine-guns but submarines, then a drug on the naval market. When Zaharoff sold a submarine to his native Greece, then sold two to Turkey, he laid the foundations of his fortune and his technique. Nordenfeldt combined with its rival, Maxim Gun Co.; later the combination merged with Vickers. With every step Zaharoff got more commissions, more stock, more power. Soon he was selling armaments all over the world-Russia, Europe...
Four times a year, says the law, representatives of the twelve Federal Reserve Banks shall meet as an open market committee to give their advice on credit management to the Federal Reserve Board. Last week, for the fourth time in 1935, the members of those august bodies met in Washington, looked at one another with sad eyes. They had met to part but even their parting was not allowed to be sweet sorrow. A grave problem and bitter issue was on hand to discomfit even their valedictory...
...under what circumstances. By Feb. 1, the Federal Reserve System is to be reconstituted under the Banking Act of 1935. The Governors of the twelve Reserve Banks may hold their posts under the new title of "President" if re-elected by their respective directors. The Open Market Committee will cease to be an advisory body, will acquire genuine authority over the Federal Reserve System's buying & selling of government and other paper. But on the committee, representation of the Reserve Banks will be cut from twelve to five members...