Word: marketer
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Dates: during 1920-1929
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Reserve Rate. Meanwhile Wall Street itself stirred uneasily. The early week market recovery proved to be largely whistling in the graveyard. As the week wore on and the tombstones stood out more clearly in the gathering darkness, the speculators stopped whistling and started to run. Directors of the New York Federal Reserve Bank held a lengthy and private meeting, after which, however, no change was announced in the rediscount rate...
...Market. None of these measures was by themselves particularly drastic (was offset, for example, by failure to raise the rediscount rate), but taken altogether they gave nervous speculators chills & fever. On Friday call money went from 6½% to 10% and the whole market went off in a sharp decline that continued through Saturday's closing. There was nothing resembling a panic but the orderly retreat was rapid, sustained, unchecked by short covering...
...board of directors declared a 50% stock dividend a $1.12½ cash dividend (including a so-cent extra dividend), thus calling attention to their ability to put fat profits into the hands of the stockholders. During the brief speculative flurry which followed, Standard Oil of Indiana achieved the stock market (paper) value of a billion-dollar corporation...
Goldman Sachs, formed last December, sold its first stock offering at 104. It was quoted even at the end of last week's market break at 222¼. Its capital and surplus six weeks ago was $100,000,000. Last week it was $122,000,000. As $15,776,000 of the $22,000,000 increment resulted from stock sales, there remained an additional $6,224,000 presumably representing trading profits of about a million per week...
...asked for his opinion of the Lar-doux painting, Sir Joseph's crisp moustache twitched and his mobile eyebrows performed a stately and scornful ascension. "The picture," he declared, "is a copy, hundreds of which have been made of this and other Leonardo subjects and offered in the market as genuine. Leonardo never made a replica of his work. His original La Belle Ferronière is in the Louvre...