Word: marketeers
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Dates: during 1930-1939
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...public's interest in the auction will centre on the 2,064,000 shares of Alleghany, worth $3,000,000 at the market price. A notable procession of blasted business dreams have passed across the auction block of Adrian H. Muller & Son, including the shades of the Insull utilities and Continental Shares, once the pride of that other Clevelander, Cyrus Stephen Eaton. But never before has such a private empire been sold substantially intact...
Since beer is a cheap, bulky commodity, most breweries depend on a local market. Pfeiffer, which works at top speed to brew 400,000 bbl. a year, is more typical of the industry than Anheuser-Busch, Pabst or Schlitz. Pfeiffer's president is William George Breitmeyer, nephew of the German brewmaster who founded the company. Shy and laconic at his desk but jovial away from it, Brewer Breitmeyer has a simple explanation for his own success: "I have only one hobby. I collect friends." An aid in this hobby is his stock of old German drinking songs, inherited from...
Brewers were most interested last week in two rival cans which raced each other into the market. Taproom champions of the thesis that beer tastes better from kegs than from bottles rarely consider how it would taste from cans. But canmakers have long toyed with the idea. Cans would stack more easily, weigh less, could be thrown away after using. The problem was to devise a lining. By last week American Can and Continental Can both thought they had the solution...
...levels throughout Depression, suddenly cut their quarterly payments one-third. Reason, Bankers Trust tersely explained, was "low interest rates and resulting reduced operating earnings." Because both institutions had earned their dividends in the first half of this year, their announcements gave the over-the-counter bank-share market a bad turn for a few days. The fear that First National, the "Baker Bank," would pare its $25 quarterly payment, sent First National stock tumbling $135 per share to $1,680. Not until Guaranty Trust, First National and other Manhattan banks declared their usual dividends did the bank-share market shake...
Hallowed by at least four generations of profitable practice is the underwriting of big bond issues. Advantage to the borrowing corporation is the fact that it gets its money in a lump sum on a definite date irrespective of current market conditions. And the "spread" between the price the corporation receives for its bonds and the price the public pays is supposed to compensate the banker not only for his time & trouble but also for his risks...