Word: slump
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Dates: during 1930-1939
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...information for the press. Said Financier Bernard Baruch, just back from abroad: "Europe is a tinderbox. Anything can happen." Said ordinarily cheerful Ambassador-at-Large Norman H. Davis, of the situation in general: "I can't see anything that is very promising." With two wars and a stockmarket slump to worry about between visitors, Franklin Delano Roosevelt presently absorbed his callers' point of view...
Last winter when business and stockmarket were soaring the balance of expert opinion held that stocks would suffer a spring slump, then recover to soar through the fall. Sure enough, the slump started in March, and, assisted by cold water from President Roosevelt, the crack-up of the British commodity boom and the unhappy state of the nation's labor relations, reached bottom in June. For two months thereafter all was well enough, save for the extreme thinness of stock and bond trading. On Aug. 14 Dow-Jones industrial averages reached a high of 190 for the summer. Then...
Markets 6 Exchanges-War was apparently only one of many reasons for the slump in the New York Stock Exchange (see p. 57), but other Exchange excitement could be laid entirely at war's door. Wheat jumped 3? a bushel one day on the Chicago and Winnipeg markets on a general war scare. Japanese bonds, in spite of a rally, stood 15 points below their price three weeks ago-a pain to U. S. banks which hold them as collateral for loans to Japan...
...Federal Reserve rather than sell large holdings of Government bonds as they have been doing lately to meet increased demand for commercial loans. As a device to end bond selling the reduction of the discount rate was not immediately successful. Still under pressure, ''Governments" continued to slump as much as half a point...
...sculptor. Three months after she married Ernest the World War took him, deposited him in a German prison camp for four years. The Russian Revolution swept away her dowry savings, invested in Russian bonds. When peace came and Ernest was released, things looked brighter; then the post-War slump and a series of bad harvests put them hopelessly behind. It was no longer a question of buying the family chateau but of saving their own roof and patching the leaks...