Word: stockes
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Dates: during 1920-1929
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...When stock market prices trembled from their highs and fell, rumor remembered the claws of famed Bear Jesse Livermore and how he might be running through the list, searching for weak spots to tear at. But last week Bear Livermore publicly scoffed the idea that "the little trading" he does was responsible for the break. Another ogre has been the report of a new bear in Boston who "sells the board" in lots of from 50,000 to 100,000 shares. To conservative Boston bankers the new bear is not familiar. To traders and speculators he is known as William...
Union-Guardian-Detroit Group acquired control of Ohio Pennsylvania Joint Stock Land Bank, a $15,000,000 institution...
Later in the week stockholders of Boston Edison sourly wished their company had never decided to split up its stock. The Massachusetts Department of Public Utilities unexpectedly refused to grant the reduction in par value, publicly scolded the company for its rate charges, its dividend prices, and, most important to stockholders, for the price of its stock. While the Department was meeting the stock had tumbled from 375 to 360, then after the decision became known went to a low of 299, later rallied...
Saying that a split-up "is likely to encourage the belief in the minds of many innocent people that it is the forerunner of substantial increases in dividends," the Department ruled that the par value should not be reduced until "the selling price on the Boston Stock Exchange more nearly approximates its real value." This real value was set by the Department at $169, a price it has not been at since...
...think," concluded the ruling, "that the investor in the petitioner's stock has no assurance that the company will be able to increase its rate of dividends in the near future, or, in fact, will be able to maintain the increased rate of dividends recently voted. Thus in our judgment, the approval of the company's proposal at this time, would have little, if any, effect in causing a wider distribution of its stock among investors. Such as would occur would, in our opinion, be to the disadvantage of the investor...