Word: prices
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Dates: during 1940-1949
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Despite some officers' worst fears, the new CNO said no heads would roll. Naval Aviator Sherman asked Vice Admiral John Dale Price, Denfeld's vice chief of operations and an airman, to stay on at his job until spring. After that, Rear Admiral Lynde Dupuy McCormick, a submariner, now boss of the 12th Naval District, will become vice chief. The Navy's two top jobs are usually split between a seagoing admiral and an airman. Sherman abolished Operation 23, which had been disseminating anonymous pro-Navy propaganda during the months of political feuding, but took no punitive...
Listening Post. For a few minutes, standing with military erectness, he talked earnestly into the microphone to a small knot of farmers and townsmen: "I'm not satisfied with the farm price support bill ... I know you people don't want federal control of education and your Congressman will fight that . . ." He said nothing about his wartime exploits as a paratroop officer, when he led a patrol behind the German-line near Arnhem, returning with 32 prisoners and without a scratch. Mostly he told the people about the issues of the 81st Congress, and how to apply...
...price is set on the Bible in Widener by University officials, for they point out that it "will never be sold...
Then, at 2 p.m. on Wednesday, Oct. 23, something like panic began. There seemed to be no reason for it, but everybody began to sell. In that final hour of trading, 2,500,000 shares changed hands and prices tumbled crazily: Auburn Auto, which had recently sold as high as 514, lost 77 points to close at 260; Adams Express, which had once been up to 750, lost 96 to close at 440. The closing bell stopped the selling. All night, brokers sent out frantic telegrams to the hundreds of thousands who had bought on margin, putting up as little...
...they sent the "Morgan broker," Richard Whitney,* to the Stock Exchange's No. 2 Post, where U.S. Steel is traded. Cried Whitney: "I bid $205 for 25,000 shares of Steel." He moved on to other posts, cried other bids for huge blocks at the price of the last sale. Around the floor word spread that the House of Morgan and the New York banks had put a cushion under the market. The market rallied. It looked as if the Morgan "miracle" had staved off disaster. "Business," announced Secretary of the Treasury Andrew W.Mellon, "is fundamentally sound." The Cleveland...