Word: short
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
...ways last week. First, it gave the Dallas Reserve Bank permission to follow San Francisco in upping its discount rate from 1¾% to 2%; the other ten districts are expected to come into line soon. Next, the Federal Reserve announced that it had reduced its holdings of short-term Treasury bills, bringing member banks' net free reserves, which had been around $500 million for five months, down to $403 million. Though the Fed's moves brought immediate talk of rising interest rates and a return to tight money, the actions were largely psychological, designed more to check...
Actually, the nation's banking system is in good shape for recovery without returning to tight money. Banks have plenty of credit available for businessmen. Despite the Fed's action, free reserves are well above $350 million, where bankers consider that credit begins to tighten. Though short-term interest rates have improved, most bankers expect the prime rate to hold at 3½% for some time because there is still no big jump in industry's demand for money. Business loans, which dropped $1.8 billion in the first half of 1958, show only slight signs of picking...
...first market corner in several decades occurred on Wall Street and caught short sellers in a classic trap-without stock to deliver unless they paid fantastic prices. The corner was nothing like those when Morgan and Harriman battled for the Northern Pacific, gobbling up so much stock that shorts had to bid Northern Pacific from $170 to $1,000 in one day. But it was bad enough. In a single day, the stock of E. L .Bruce Co., a small Memphis hardwood flooring manufacturer, jumped $100 a share after the American Stock Exchange ruled that short sellers had to cover...
...What the shorts got caught in was a war for control, which saw almost all the company's stock taken out of circulation. Originally, the shorts had sold at a price of about $42, expecting the stock to decline because book value and earnings indicated a price closer to $30 a share. They guessed wrong. Trying to oust the Bruce family management, which owns 31% of the 314,600 shares outstanding, New York Manufacturer Edward Gilbert and his associates began buying, sent the price to $77 by June. More than 280,000 shares were traded, including at least...
...association met in St. George's Fields, 50,000 strong. After a speech by Gordon, they marched eight abreast to Parliament to demand repeal of the Relief Act, and an onlooker noted that they "had long lank heads of hair, meagre countenances . . . and they uttered deep ejaculations; in short, displaying all the outward and visible signs of hypocrisy and starvation...