Word: prices
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Dates: during 1940-1949
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Christiana is the highest-priced stock on the market. It was quoted last week, over the counter, at $3,005 bid, $3,055 asked. Even at that price, it seemed to be a bargain. By buying a share of Christiana, an investor would indirectly own 19½ shares of Du Pont stock, almost three shares more than if he had spent the same amount of cash to buy Du Pont stock...
After last fortnight's sharp drop in grain prices, traders last week hoped that prices might steady. Instead, the biggest sinking spell in a year hit the Chicago grain pits at midweek. In one day, all grain futures tumbled their legal limits. In the cash markets, corn hit its lowest price since April 1945 (at Chicago, No. 2 yellow corn dropped from $1.27 a bushel to $1.17). Oats and rye also broke through the levels of OPA days...
...million bushels of corn-more than is normally sold commercially in a year. But with most storage space filled, a huge amount of "free grain" not encompassed by the support program had been thrown on the market. Cash corn had been driven as much as 40? below the support price, and wheat down to 20? below its support level...
Stampede. There was also trouble in the cattle market. As grain prices dropped, cattlemen unloaded their stock. Kansas City's stockyard bulged with the biggest shipment of grain-fed cattle in its history-and beef prices tumbled. Choice grades of beef which had brought a top price of $41.60 a hundredweight last summer were offered for as low as $25, only $6.25 above OPA levels. Hogs slumped $1 to $20.50, lowest since October 1946. But at the start of this week, both livestock and grains firmed...
Though housewives were delighted, businessmen, remembering the 1920 collapse, worried that the commodity slump might get out of hand. Though stock prices fell again last week, putting the Dow-Jones industrials below their post-election lows, there were few other signs of a widespread price drop. The Bureau of Labor Statistics' general index of wholesale prices (food, metals, textiles, etc.) had changed little in a month. The storm, as yet, had blown only on the farms...