Word: stocked
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Dates: during 1940-1949
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Last week, the Constitution moved, lock, stock & stuffed duck from its cluttered, turreted brick building to a new, $1,500,000, streamlined, aluminum-trimmed plant. The new building was, roughly, Georgia-shaped. To prepare the staff for the shock of a clean newsroom with wastebaskets and ash trays, a quiet memo was issued: "We are going to have the desks dusted every night...
...stockholder of Mission, Skelly brought two federal court suits to block the merger. He charged that Getty and other Pacific Western stockholders would get $93 million in cash for their stock (Getty's share: $79 million) while Mission stockholders would only get Sunray common stock, six shares for one of Mission. Sunray stock, said Skelly, would be of "questionable value" when the merger put $125 million of debts and senior securities ahead of the common stock. Getty's reply was that, measured by current market prices of the two stocks, Mission stockholders would get far more...
...nation still did not know the names of the big speculators in commodities (see NATIONAL AFFAIRS). But last week Commodity Exchange Authority Administrator J. M. Mehl told the why and the how-much of the boom on the commodity exchanges. Said Mehl: high margins on the stock exchanges (75%) had "curbed" speculation there. The money had "sought an outlet" in commodities where some margins have been...
Mehl wanted the power to regulate commodity margins as the Federal Reserve Board regulates stock margins. He pointed out that since Oct. 7, when the grain exchanges had boosted their margins to 33⅓%, speculation has "declined sharply." Commodity traders, who are dead set against any governmental control of margins, took no comfort from Mehl's report. But New York Stock Exchange President Emil Schram cried that Mehl had performed a "public service" in showing how high stock exchange margins had helped bring on the speculation in commodities. However, Schram thought that the answer was not to raise commodity...
...fuss & feathers, the stockholders of J. Arthur Rank's Odeon Theaters Ltd. quietly ap proved his plan to buy his General Cinema Finance Corp., for ?1,100,000 (TIME, Dec. 22). The plan was carried, with no dis sent, by a show of hands at the stock holders' meeting. Said the London Times: "Nobody will now query the [deal's] propriety . . . since shareholders have been given ample opportunity of dissenting...