Word: marketeers
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...When the markets opened last Thursday, a burst of trading toppled volume records not only on both major stock exchanges but also, by brokers' estimates, in the over-the-counter market. On the New York Stock Exchange, volume soared to an all-time peak of 21,350,000 shares. It was the third time since April 1 that Big Board turnover had reached new heights, eclipsing by ever-increasing margins the 39-year-old record of 16,410,000 shares traded on Oct. 29, 1929, when the market suffered its worst crash. On the American Stock Exchange, a center...
Bedlam. In the over-the-counter market, which operates by telephone, the pace grew frantic enough to overstrain physical facilities and disrupt trading. "It's absolute bedlam," said one dealer whose entire switchboard lit up at once. "We just pulled all the cords out and started fresh." Other brokers encountered long delays reaching marketmakers. Such tie-ups often hurt investors, as prices rise before their orders can be placed. Goodbody & Co. stopped giving quotations and White, Weld & Co. halted its over-the-counter operations an hour before the new and foreshortened 3:30 p.m. official closing time. Despite...
...away with the physical transfer of stock certificates held in brokers' names. These account for 75% of Big Board trading, but it will be next year before all N.Y.S.E. stocks are in the computer, and 1970 or later before the system takes in the snarled over-the-counter market. In the meantime, the prospect is that the stock markets will continue to be plagued by paperwork...
Without a Panacea. To relieve the growing strain on the IMF, the Group of Ten, meeting last week in The Hague, agreed to provide that organization with $770 million. Meanwhile, the world money markets continued to show encouraging signs of greater stability, Although the price of gold jumped to a record high in Paris-where the government controls on the export of francs were causing Frenchmen to turn to bullion-free-market trading elsewhere remained relatively calm...
Chief among those difficulties are the balance of payments deficits plaguing key trading nations. As a result of France's crisis, a Common Market study indicated last week, Paris is likely to run payments deficits of some $1 billion through next year. Even so, France has reserves of about $5.6 billion, presumably enough to ride out a deficit for some time; moreover, at week's end, it further bolstered the franc with a request for an additional $140 million drawing from the IMF. Britain is headed for an expected deficit of at least $500 million...