Word: million
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Dates: during 1940-1949
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...dark clouds ahead. Industry was still cutting back production; the Federal Reserve Board's production index had dropped in May to 174 (v. 192 a year before) and had gone on down in June to an estimated 170. Unemployment was still rising. In June, with more than one million extra job-seekers out of school and college, it rose to 3,788,000, the highest in seven years...
...TIME, Feb. 21), a holding company in which anyone can buy stock (current bid price: $3,050 a share). Christiana Securities Co., plus other holdings of the Du Pont family, control E.I. du Pont de Nemours & Co. In turn, Du Pont controls General Motors Corp. through its 10 million shares of G.M. stock. Du Pont and G.M. together own Kinetic Chemicals, Inc., a maker of refrigerants; G.M. and Standard Oil Co. (N.J.) own Ethyl Corp. (Jersey Standard is not named in the suit). Members of the Du Pont family, as individuals, own 17% of the stock of U.S. Rubber...
...this quest has arisen the lustiest, fastest-growing phenomenon in U.S. finance: the investment trust, notably the "open-end" or "Boston-type" trust. Though the ailing securities market in general is barely breathing, the nation's investment companies sold $80 million worth of their own shares in the first quarter of this year, an increase of 26% over 1948. Said Edmund Brown Jr., president of Manhattan's fast-selling Fundamental Investors, Inc.: "May was the biggest month in our history and June was almost as big. Last year's business was around $10,000,000; this year...
From its original 200 stockholders and $50,000 capital, M.I.T. has grown to 68,000 stockholders and assets (as of last week) of $211.1 million. Over the years it has paid out about $14 million from capital gains and nearly $100 million in dividends. Though it has large blocks of stock in more than 125 companies, it follows investment-trust practice by keeping its fingers out of management...
...they wanted. If their main interest was income they could buy any of four bond funds, or two preferred-stock funds; if they wanted to gamble for quick profits they could choose from four speculative common-stock funds. Sholley's plan paid off; today Keystone, with $170 million in assets, is second only to M.I.T...