Word: markets
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Dates: during 1920-1929
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...Treasury last week felt the pinch of a tight money market. To borrow $400,000,000 for nine months, it prepared to pay a higher interest rate- 5⅛% - than at any time in the last eight years. For the first time in an even longer period the Treasury's quarterly financing interest rate was above the Federal Reserve bank rediscount rate (5%). A year ago a similar loan was put out by the U. S. at 3⅞% whereas in 1924 the Government was able to procure money in the public market at 2¾%. The highest...
...wheat recovery was accompanied by rises in corn, oats and rye. It also aided the Manhattan stock market, which opened strong in a day of light trading. As far as permanent relief of the wheat situation was concerned, however, it was felt that only a major crop scare in spring wheat would result in continued rising prices. It has been estimated that there will be a world carry-over of 500 million bushels on July...
...most bullish of the bulls is William Crapo Durant, motor and market man with reputed large holdings in Chrysler, General Motors, International Combustion, Montgomery Ward, U. S. Cast Iron Pipe, Warner Bros., and many a speculative favorite. Inasmuch as the first five of the half dozen listed closed last week at only a few points above their lows for the year, Mr. Durant was widely rumored as having been pressed for margin and as liquidating much of his holdings. There was a suspicion, indeed, that the Durant shirt, if not lost, had at least been temporarily mislaid. It was also...
...close of the week the market, encouraged by a $232,000,000 drop in loans to brokers, rallied somewhat and selling of the Durant stocks became less pronounced. Meanwhile Mr. Durant, cabled in distant Paris concerning his reported losses, replied: "These silly and unfounded rumors have given me a big laugh...
...President Andrews is also a Budd, as well as a Hupp director. At the age of 19 he was a dealer on the curb market, retired from the brokerage business (1919) at 40, bought, and later sold, a chain of California hotels. His Connecticut estate, Freestone Castle, is patterned upon English models; he has also a Colonial home in Altadena, Cal. He is the owner of the Sialia, a yacht formerly in the possession of Henry Ford. The Sialia is the fourth largest privately owned yacht in the world...