Word: marketer
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Dates: during 1920-1929
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...also to provide for possible additional taxes. Of the stockholders of the Steel Corporation, George F. Baker, Chairman of the First National Bank of New York, remains the largest individual investor, with 500 shares of preferred and 58,050 of common stock-worrth about $6,735,000 at present market prices. Other prom inent holders were: Lawrence C. Phipps, (junior U. S. Senator from Colorado), 5,000 preferred and 30,000 common; President Coolidge, 50 common; Judge Gary, 1,966 preferred and 661 common; John P. Morgan, 901 common...
...usual practice, when a large offering of securities is made by a syndicate to the public, for the syndicate to place a market order to buy at about the price of the offering. Thus the market price of the security is kept at or above the syndicate price until the offering is largely dosposed...
From their entry on the Exchange market, the preference shares have sold at their issue price of 100, or better. At first, dealers who had sold more shares than they were subsequently able to obtain from the syndicate were forced "to buy what they needed in the market. As a result, the price rose slightly over 103. It then declined to 100 and a fraction, and there it stayed. Wall Street, as usual sceptical, is now wondering how many shares the syndicate is having to buy* to keep the price at this figure so consistently. Incidentally, this factor will determine...
Italy, however, has for long not been keen on the U. S. money market; so, of course, there could be no arrièrepensée behind Mr. Lament's rhapsodies on the Italian landscape. Moreover, financial rehabilitation and gold currency are terms that have not yet been coined in Rome. Clearly, Mr. Lamont was on a vacation. Yet the impression in Wall Street was to the effect that Mr. Lament was not in Italy simply to admire local sunsets and that he may return to Manhattan with something beside good golf scores to show for his "vacation...
Certainly there is nothing to worry the money market. Interest rates on call loans, in some ways the reliable barometer, and the general trend of money rates have eased perceptibly. Good commercial paper is scarce, since concerns are not borrowing extensively...