Word: rates
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Dates: during 1920-1929
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Undoubtedly the most spectacular occurrence of the past week has been the precipitate fall in many rates throughout the country, but especially in Wall Street. Call money had already broken 3%, and the New York Reserve had reduced its rate to 4%. A year ago this would have resulted in the withdrawal of out-of-town balances from New York, and a consequent stiffening of the local money rates. This time, however, the country everywhere had an oversupply of funds. Hence, in the last week, all money descended to 2% for the first time in six years, while...
...most immediate effect of this smash in interest rates has been seen in the stockmarket, where bonds, sound preferred stocks and other investment securities at once scored in a sudden expanse of trading. Several new highs were recorded in foreign and domestic bonds, led by U. S. Liberties, while utility stocks of good character have been markedly strong. Rails also advanced, accompanied by renewed talk of coming consolidations which easy money should facilitate. But the almost universal enthusiasm still left the industrial stocks, and even many industrial bonds, rather severely alone. They were judged in too vulnerable and speculative...
...general theory that anything very bad is bound to get better, some students of business are interpreting the 45% production rate of steel ingots and other lugubrious statistics of the steel industry as evident signs that it may be "turning the corner." However this may be, only mournful sounds come out of the steel camp. Sales are said to be running only about 30% of productive capacity, and shipments have thus greatly decreased forward orders on the books. This was quite emphatically indicated by an announcement of the unfilled tonnage of the U. S. Steel Corporation...
Every student is furnished with a free uniform, free sleeping quarters, and is paid about $85 a month practically the only charge being for food at the rate of 25 cents a meal...
Fortunately, the light has broken in during the past few years from several different directions, and a replacement of the true emphasis is generally in order. But at the present rate of progress it will a very long time indeed before the majority of students come to college with serious purposes and before the majority of colleges give their graduates anything more than a delicately superficial gloss of intellectual cultivation...