Word: protection
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Dates: during 1950-1959
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...Board raised margin requirements from 70% to 90% (buyers must put up 90% cash on their stock purchases), the highest requirement in eleven years. The Fed said it was alarmed by the rise in public borrowing to buy securities (which reached a record $4.3 billion in September), wanted to protect the public from getting in too deep. Actually, the public, i.e., small investors, has been getting out of the market since June...
...week. The London Financial Times's index stood at 205.4, only 7.9 points below the alltime high of July 1955. Transactions in a single day totaled 16,599,000 shares, highest in 17 months. The trigger was Britain's resoundingly successful effort since 1957 to protect the pound by raising interest rates, which has increased gold and dollar reserves by about $1 billion. Though British industrial production is falling and unemployment is rising, the big institutions have confidently moved back into the market...
...study group to plan a stabilization board for the world's hard-pressed lead and zinc producers. It favors these plans in the hope that they may replace unpopular import quotas that have alienated friends, such as the quotas put on lead and zinc imports to protect domestic producers...
...protect Bolivia and other friendly nations, the U.S. buys no tin from Russia; last week Canada decided to buy its tin only from members of the International Tin Council. Since there is no guarantee that Iron Curtain countries will abide by any metals agreements, Western nations can make stabilization programs work only by standing together in restricting purchases from Russia...
...long run. Says Simon D. Strauss, vice president of American Smelting & Refining Co., the world's largest smelter and refiner of lead, zinc and copper: "Such agreements, in the short run, would restore order to the market. But, for the long run, metals restrictions are useless. They usually protect the weakest, least efficient party to the pact...