Word: stocked
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Dates: during 1940-1949
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Margins. Texas' Wright Patman, chairman of the House Committee on Small Business, demanded that stock market margins be reduced from 75% to 50%. He pointed out that the buyer of an $1,800 auto must pay only $600 down, but the buyer of $1,800 of stock must still pay $1,350 down. Said Patman: high margins had "almost entirely dried up" the capital market. The Federal Reserve Board was "studying" the matter...
...Hoover task force report, awaiting approval by the full commission, suggested some further shifts. The Federal Reserve Board's power to fix stock-market margins would be transferred to the Securities & Exchange Commission, and the Reserve Board cut from seven to three members. At the same time, the board would be given more monetary and fiscal influence by getting exclusively the important job of buying & selling U.S. bonds to stabilize the market. This job is now done by the powerful Federal Open Market Committee, five of whose twelve members are Reserve Bank presidents elected by commercial bankers. The board...
Where is the stock market going? All ready to analyze the tea leaves and gaze into the crystal ball, 500 members of the National Federation of Financial Analysts Societies gathered in Manhattan last week to see what they could see. The analysts, who advise brokers on what to tell their customers, found the market's future full of ifs, ands & buts...
Only the day before, the New York Public Service Commission had hastily granted the Long Island a $3.2 million-a-year boost in its commutation fares, the third boost since 1918. But the Pennsylvania Railroad, which owns the Long Island lock, stock & comic book, had decided to quit footing the bills anyway: the Long Island would have to shift for itself. With only $60,000 cash left in its till, there was nothing left for the Long Island but to ask the court to appoint trustees and reorganize...
...dyer at $60 a week. If he had never made a lot of money, he had always managed to save some of what he made. He bought a home and lived comfortably-by himself, after his wife died. Some of his friends heard that he also dabbled in the stock market, but taciturn old Albion never talked about it. Last July, at 72, he died...