Word: prices
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Dates: during 1930-1939
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...increased silver price meant an added $9,000.000 annual subsidy to U. S. miners. As soon as the Senate voted, the Sunshine Mine in Senator Borah's Idaho (nation's largest producer) announced it would reopen...
Butadiene rubber itself is not new. It is the same in composition as the noisily touted German synthetic rubber called "Buna." But the German product is made from acetylene (a product of limestone and coal) in five complicated stages and its price is around 60? a pound. Inventor Egloff estimates that his butadiene rubber, if produced in any quantity, can be made to sell for less than 20? a pound. E. I.. du Pont de Nemours & Co.'s famed chlorine-containing synthetic rubber (TIME, May 6, 1935), now called "neoprene," is probably superior to butadiene rubber in some...
...preferred stock on the New York Curb Exchange. Broker Edward Parry Sykes, 43, appointed specialist in the stock two days before, arrived late at work that morning. Maybe that contributed to his hard luck. There were no bids and no offers. So he made some quick calculations about what price to quote. Considering Spalding's balance sheet and the price of the old preferred, he decided to quote 30 bid, 33 offered (ten shares each...
...sooner had the quotation gone over the ticker than an order came selling him ten shares at 30. He quoted again two points down and his bid was snatched at 28. He continued dropping his price, but like a hungry school of fish snatching at fat grubs, sellers snatched at his bids all the way down to 14. Then, fussed at playing sucker to his own game, he traded in and out at around 15 to stabilize his market. The bears let up. Broker Sykes's face was red. The traders knew, although he didn't, that Spalding...
Last week unhappy Specialist Sykes, who trades in 24 (mostly inactive) stocks, went on an involuntary month's vacation, still long 70 shares of Spalding preferred, on whose total purchase price of $1,590 he was out some $500. Reason for his unexpected holiday was the prompt action of Curb President George Peters Rea in revoking his Exchange registration as a specialist for 30 days. Broker Sykes had, said President Rea, "subjected the Exchange to improper indignity by his inexcusable thoughtlessness...