Word: schram
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Stockbrokers were sternly warned last week against rumormongering. The warning came from Emil Schram, NewYork Stock Exchange's president, who fears that a speculative boom in low-priced securities might: 1) collapse and rob a lot of small investors of their savings; 2) bring demands for even more stringent Government control of the Exchange...
What especially excited Wall Streeters were the symbols which clogged the tickers. A little more than a year ago, Exchange President Emil Schram cried out a warning against the unhealthy boom in the low-priced "cat & dog" stocks (TIME, March 15, 1943). Last week, the "blue chips" led the parade of some 245 stocks onto new high ground. A.T. & T. hit a three-year peak, while Chrysler, Westinghouse, General Motors, Du Pont and many a retail-store stock reached new highs for 1944. And the tone had changed. Grumblers had long complained that every slip of the market meant that...
...Lunched with the New York Stock Exchange's President Emil Schram, heard that the present bullish stockmarket was healthy. But, said Schram, mindful of the bargain boom in "cats & dogs": "I told the President I was determined to keep uninformed people out of the market. I am going to continue to say to people who don't know what they are doing to stay...
...Thursday the cat-&-dog situation was bad enough to induce New York Stock Exchange President Emil Schram to lecture investors who are "intrigued only by the fact that particular securities may be selling at very low prices." Things quieted down a little-but not much...
...Jesse Jones the rates seemed too high. They obviously were too high for large-scale private investment so long as Buna-S cost 25-35? a Ib. and natural rubber, even at war-kited rates, only 20?. In May 1941, the same day that his RFC head. Emil Schram, told Congress "I think we will have to start rationing rubber very soon," Jesse himself said: "Unless we are cut off from the Far East [synthetic rubber] would be a great waste of money...