Word: sales
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Dates: during 1930-1939
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...popular soak-the-rich measure, the capital gains tax places an unreasonably heavy levy on any profits made through the sale of securities on the open market. Briefly, if an investor bought General Electric Common at twenty and attempts to sell at thirty-seven, his seventeen dollar profit is so heavily taxed that he is literally compelled to hold on to the stock. The result is fatal to market stability. At a period of bullish enthusiasm when the number of buyers is unduly stimulated, the number of those who naturally be sellers is artificially restricted...
...significant in the current market. For over thirteen months the stock market has been steadily increasing. Yet almost all of the purchases have been made on a cash rather than a margin basis. Manipulation of margin requirements, technical recessions will not affect these holders of securities. And, since the sale of their stocks is made prohibitively expensive by the capital gains surtax, this group will remain on the long side of the market until there is a wholesale loss of confidence with resulting collapse of values. The absence of profit taking on the way up, inevitably accelerates the inflation...
Last winter Mrs. Calvin Coolidge, who now makes her home with friends in Northampton, Mass., offered for sale "The Beeches," where she and the 30th President lived after they left the White House. Some of the household furnishings she put in storage. Last week she was traveling in Europe when the residue odds & ends were put up at auction in a Northampton gymnasium. Auctioneer George Howard Bean had sent engraved circulars to about 1,500 clients, announcing that each of the 400 items of Coolidgeana offered would be accompanied by a certificate of authenticity. Only 400 bidders showed...
Because the opera was supposed to be in English, the advance libretto sale had been light. But during intermission hundreds of Detroiters rushed into the lobby, glad to pay for some guide to its meaning. The second act spoke more eloquently for itself. Scene was the village square on the day of the marriage ceremonies. All the ghetto rabble was there, begging for alms, food, drink. One gay interlude came when a ragged peasant orchestra evoked a reedy little tune from the big band in the pit. Thereafter the tension grew grimmer. The beggars danced madly while Leah swept...
...Seeking information on the meeting in 1927 at which the sale was decided upon, Counsel Becker subpoenaed A. T. & T. Directors George F. Baker, chairman of Manhattan's First National Bank; and David Franklin Houston, President of Manhattan's Mutual Life Insurance Co., onetime Secretary of the Treasury under President Wilson. Neither could remember the reasons for the sale. C. A. T. & T. long-distance earnings between 1913 and 1935 were shown to have been $400,000,000, or an annual return of 10.9% on investment despite several voluntary rate cuts. In the same period the associated companies...