Word: new
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Dates: during 1920-1929
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Last week, upon announcement of the dividend omission the stock tumbled from a resting place at 33 to a new low of 27 while the preference stocks concluded a drop that carried them from...
...British public which recently viewed the New York market break with great and garrulous glee, Royal Mail's tumble was merely another incident in the series of misfortunes which have over taken the English investment market. Although in the U. S. prices broke, earnings of U. S. companies have so far been maintained.But in England poor trade conditions coupled with belief that the Labor government is financially incompetent, seem to indicate the culmination of the long established drift of the London market away from its position as world's leader. "Home Rails," long considered a prime investment, have seen...
Last week American Express announced it will form American Express Bank & Trust Co. with $10,000,000 capital. Although the new bank will be incorporated in New York, each American Express office will amount to a correspondent, and, should branch banking laws be repealed, could quickly become a branch. In this way Chase may some day have a nation-wide banking system without buying out-of-town banks or forming new ones...
Before a railroad may build a new line, it must make application to its stern guardian, the Interstate Commerce Commission. The Commission may or may not look favorably on the petition of its ward. Last week for the first time the I.C.C., without waiting to be asked by a railroad, commanded the Union Pacific to build 185 miles of new line. This assumption that the Commission has positive as well as negative, executive as well as judicial power over the railroads of the land will probably be bitterly contested by the railroads...
...command to build was issued by the I.C.C. at the request of the Oregon Public Service Commission and over the protest of the Union Pacific. The new line would connect Crane, Ore., on the Oregon Short Line (subsidiary of Union Pacific) with Crescent Lake, Ore., on the Southern Pacific. Its proponents declare that it will open up a potentially rich region in the foothills of the Cascade Mountains, while its railroad opponents see the new line as economically unsound. Cost of construction is estimated at $9,900,000. The fundamental principle involved?whether the I.C.C. can command as well...