Word: pooled
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Dates: during 1930-1939
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Before he was arrested last January Pressagent Plummer seldom slipped. A onetime reporter for the Wall Street Journal (two of whose feature writers he had subsequently "convinced"), he had published three "financial" journals, once set himself up as "The Institute of Economic Research." Handling the ballyhoo for a pool that was bulling Savage Arms in 1924, Pressagent Plummer succeeded in placing favorable stories "605 times in 228 newspapers with a circulation of 11,248.000 in 157 cities with a population...
...While the seals splashed joyously in their pool nearby, Mr. Tiebor told of the time necessary to dismantle the entire circus. "All of the wagons which fill 40 flat cars can be loaded in one and one half hours. This will have to be done next week when we open under canvas in Brooklyn...
...Bragg estimated he had been short as much as 50,000 shares at one time, "but right now my short accounts are between 12,000 and 15,000 shares." But far more interesting to the committee than his short operations was his story of a $32,000,000 bull pool in Anaconda Copper just before the 1929 crash...
Senator Couzens: How did the operation come out? Mr. Bragg: I lost $400,000. Others may have lost more. Senator Couzens: What representations were held out to get people to join? Mr. Bragg: Possible profit. Counsel Gray: Wasn't that pool formed because of the ability of this group to manipulate the market? Mr. Bragg: I don't think there was any manipulation. Counsel Gray: Oh, be a little frank with this committee. You didn't just take $32,000,000 into the market and then sit down and wait. Tell us some truth. Senator Glass...
Counsel Gray: But take the radio pool. Meehan, the exchange specialist, was a member. Mr. Smith: Mr. Meehan has never been a member of any pool. The pool account has always been in his wife's name...