Word: marketer
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Dates: during 1920-1929
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...four stories simultaneously, all highly readable: The Ransom for London (Dial, $2) is scientific crockery on the grand scale?death comes mysteriously to the Prime Minister's prize bulls and to a party of 19 toffs, before the Deadly Three are scotched without their ransom. The House in Tuesday Market (Knopf, $2) has for clues three cigars and a scrap of pink paper, but psychic waves, deadly chemicals, and amateur theatricals find them sufficient. The Secret of Secrets (Clode, $2) is a purely scientific invention, and yet the most improbable people seem to have stolen it?quaint rustics, fake priest...
...market opened the week, however, with a general rally, caused by the fact that many good stocks had been oversold and that call money eased off to 7%. Coppers and utilities headed the rebound...
...development of the week was the fact that, without taking any radical measures, the Federal Reserve Board, aided by front-page publicity given to bearish conversations in Congress and in the Reserve advisory council, succeeded in scaring Wall Street into a liquidation movement. A definite obituary on the bull market might, however, be a little premature. Mysterious despatches from Washington stressed an alleged division of opinion on the Federal Reserve Board and the existence of a minority party opposed to anti-speculative measures...
...story of Clarence Saunders' disconnection with Piggly Wiggly is the story of how Piggly Wiggly went to the Stock Market and wound up in the stock yard. In November, 1922, when Mr. Saunders was Piggly Wiggly's successful president, Wall Street operators started a bear movement in Piggly Wiggly stock. Angry, Mr. Saunders hastened from his native Memphis to Manhattan. They would sell Piggly short, would they? Well, he'd show them, and he did. He ran Piggly Wiggly stock up from 40 past 120, realized some millions of paper profits. Then, unfortunately, the Stock Exchange Governors...
Inasmuch as the Straus purchase was for five-fourths of a seat, there still remained the question of what quarter-seats, sold separately, would bring. The bear market caused by the Federal Reserve's attack on speculative loans (see p. 47) may well lower seat prices since speculation by the general public is always on a bull market. A bear market generally means less trading for seat-holder, fewer commissions...