Word: marketing
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Dates: during 1940-1949
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Like a man walking on the ceiling, the stock market last week continued to delight and mystify onlookers. In nose-thumbing defiance of all the gloom over strikes (see NATIONAL AFFAIRS), the market blithely kept on rising, for the fourth week in a row. With a 4.1 point gain during the week, the Dow-Jones industrial average broke through the high mark (190.19) of a year ago, when Wall Street confidently expected a Republican victory, and reached...
...market's rise was not as gravity-defying as it looked. It was solidly shored up by 1) the whopping third-quarter profits of many a corporation, and 2) an increasing tendency to pass some of these profits along to stockholders in the form of bigger dividends. Chrysler, for example, which had turned in a third-quarter net of $45.4 million v. $24.1 million in the 1948 period, raised its $1.25 quarterly dividend to $1.50. The stock went up 2⅛ points in the next day's trading, to a new 1949 high...
There was hardly anybody who did not know somebody who had made a killing in the market. And last week, exactly 20 years after the era of wonderful nonsense suddenly collapsed, there was hardly anybody in Wall Street old enough to remember, who did not shiver a bit at the memory of October...
...Peak. The great roaring bull market had reached its peak on Sept. 3, when U.S. Steel hit 261¾, General Electric reached 396¼, Radio Corporation of America passed 500 (on a pre-split basis), and the Dow-Jones industrial average reached its alltime high mark of 381.17. In the same week that Adams Express, an investment trust, split its stock 10-for-1, the stock jumped 100 points. As October came there was a series of severe shakeouts. But few took them as a warning. Smart operators thought a setback was only a golden chance...
...shares of Steel." He moved on to other posts, cried other bids for huge blocks at the price of the last sale. Around the floor word spread that the House of Morgan and the New York banks had put a cushion under the market. The market rallied. It looked as if the Morgan "miracle" had staved off disaster. "Business," announced Secretary of the Treasury Andrew W.Mellon, "is fundamentally sound." The Cleveland Trust Co.'s Leonard P. Ayres said there had been a security panic, with no economic basis. Banker Lament pronounced it only "a little distress selling." The National...