Word: paperworks
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Dates: during 1960-1969
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...Wall Street has already exceeded the 10 million-share days that only four years ago were forecast for 1975, is plagued by late tapes, overburdened facilities and overworked staffs. To catch up with the paperwork, stock exchanges now close one day a week, a condition that will probably continue at least through July...
...nation's overburdened stock markets called time out last week, but investors didn't seem to hear the whistle. Stock exchanges and the over-the-counter market took a one-day holiday to let brokerage houses attack a mountain of paperwork that has swamped clerical staffs. The shutdown was the first of three consecutive Wednesday closings to be followed by a similar non-trading day on Friday, July...
...paperwork snarl-by a considerable margin the worst in Wall Street history-began when President Johnson's Viet Nam peace moves sent stocks on a spring spree. Since April 1, Big Board trading has averaged 14 million shares a day, up 40% from the first quarter. The smaller American Exchange has been hit by a 50% increase to 7,500,000 shares a day. In consequence, brokers have been unable to deliver stock certificates to customers within the allotted five business days after they are bought or sold. Compounded by increasing clerical errors, the discrepancies and slippages by last...
...Board trading, but it will be next year before all N.Y.S.E. stocks are in the computer, and 1970 or later before the system takes in the snarled over-the-counter market. In the meantime, the prospect is that the stock markets will continue to be plagued by paperwork...
...increasing burden of paperwork on House Faculty. "The paper culture--the recommendations and evaluations of students--has gotten out of hand," one administrator said recently. Possible reforms for the recommendation system might include centralization of the recommendation reports or formation of a secretarial pool from the Office of Graduate and Career plans...