Word: stocked
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Dates: during 1960-1969
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...blue-chip industrial shares. Propelled by political as well as economic events, the Dow-Jones average bounced erratically, but gained only 4.3% for the year. Broader-based indicators of Big Board securities rose about twice as much. The New York Exchange index of all 1,249 listed common stocks climbed 9.4% and Standard & Poor's index of 500 issues rose 7.7%. On the American Stock Exchange, a haven for low-priced and often volatile issues, prices soared an average...
Snarl and Slowdown. For the year ahead, there is apprehension over the persistent paperwork backlog, which has snarled delivery of securities. Overruling a last-minute plea from the Securities and Exchange Commission to reconsider, the nation's stock exchanges decided to switch from Wednesday closings, in effect since June 12, to shorter hours. Five-day-a-week trading, with closings at 2 p.m. instead of 3:30 in New York, will resume this week. Some brokers share the SEC's fears that the most severe effects of the paperwork jam are yet to be felt. Industry leaders, however...
Still, the stock market's major concern is how fast the Federal Reserve will tighten up the money supply in its campaign to squelch the pressures and psychology of inflation. Rising taxes will make the battle easier and will siphon funds away from investors. On Jan. 1, Social Security taxes went up by $3.6 billion a year. By April 15, taxpayers must give Washington an extra $11 billion in catch-up payments for the second quarter of 1968, when the 10% income-tax surcharge was not withheld from salaries. With a shrinking federal deficit also sucking steam from...
Businessmen are always grumbling about rising taxes, but they rarely make good on threats to take their firms out of town to avoid the bite. Last week, to escape a new 50-per-share city tax on stock transactions, the Philadelphia-Baltimore-Washington Stock Exchange abruptly began moving to the suburbs from its imposing quarters in downtown Philadelphia...
...Bala-Cynwyd, a 25-minute auto ride from the city center. Lacking the traditional opening bell, George Snyder, an exchange governor, intoned a resounding "bong." Then 25 trading specialists sat around a composition-board table laid over trestles to buy and sell shares. Despite a shortage of telephones and stock tickers, which forced them to run the tapes down the length of the table so that everyone could get a quick look, they managed to handle half of the P-B-W's normal volume the first...