Word: publically
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Dates: during 1950-1959
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Borrowed by the A.A.U. from the Army, Private Bragg. 23, visited France last month as an athletic ambassador. Excitable French newsmen were dazzled, saw in him the epitome of Edgar Rice Burroughs' jungle boy. "Bragg, the Tarzan of athletics, knocked the breath out of the Paris public." gasped the Paris France-Soir. "If gentle Jane had kneeled beside him. and Cheetah had jumped to his side," thrilled the Paris-Presse, "nobody would have been surprised...
...York Stock Exchange spends more than $1,000,000 a year educating the U.S. public on the benefits of stock ownership. But last week the exchange was worried about all the new stockholders it has signed up and the kind of stocks they buy. The exchange increased its advertising budget 25% for a campaign to warn stockholders against tips and rumors, advised: "Hold your money tight when anyone gives you 'the inside dope.' " Merrill Lynch, Pierce, Fenner & Smith, the U.S.'s biggest brokerage house, began to run ads in 210 newspapers entitled "Danger! Inside Tip Ahead...
What had everyone concerned was the biggest public participation in the market since the '20s; a recent survey by the exchange showed that 25% of those interviewed were interested in the market v. 9% a year ago. Nevertheless, many Wall Streeters felt that the warnings were being overdone. Said A. Charles Schwartz, senior partner of Bache & Co.: "It is stupid, after years of a publicity campaign to get more people to buy stocks, to come out now and blow the whistle...
Despite SEC warnings of "manipulation," the stock market today is not manipulated as it was in the '20s. Then, a pool of speculators would buy enough stock to send it scooting up, stir up public interest so that they could unload at the top. Today, pools are not only illegal; stock ownership is so much broader that a pool could hardly operate. Now, stocks are often moved up by the tools of publicity...
Corporations happily supply information to security analysts and customers' men, whose firms turn out some 50,000 market letters annually. Public-relations firms are hired to plug a firm to the public. Their performances are often judged on how high the publicity pushes the stock...