Word: stockings
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Dates: during 1920-1929
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...Democrats were not inclined to criticize Mr. Raskob because of the stock market, Republicans were. Last fortnight in the Senate, Democratic Leader Robinson of Arkansas attributed in part the recent market crash to a flow of unduly optimistic statements from Calvin Coolidge, Herbert Hoover, Andrew William Mellon. Defending the Republicans, Senator Robinson of Indiana rose to blame Mr. Raskob for the frenzy of speculation. He called Mr. Raskob a "plunger," cited Mr. Raskob's published faith in stocks, his plans for a workers' investment trust, his null General Motors statement (TIME, Feb.11) as public inspirations to gambling, responsible...
...more than any fifty men, is responsible for this stock crash," wrote Senator Carter Glass of Virginia last week to the Philadelphia Record. He?Charles Edwin Mitchell, head of National City-Bank?made no reply. Hostility of Senator Glass was an old story; besides, Mr. Mitchell had serious troubles to cope with. The still ominous market; the cancelled Corn Exchange merger; the rumored differences with his directors?Mr. Mitchell's position was carrying hazards with its honors...
...Then, last week, the proposed absorption of Corn Exchange Bank fell through. Merger terms permitted Corn Exchangers either to exchange their stock for National City on a four-fifths for one basis or to receive $360 a share each. When the Market crashed, Corn Exchange stock accompanied it, at one time reaching a low of $160 per share. Obviously Corn Exchangers would gladly take $360 a share for their stock; equally obvious was National City's reluctance to buy up the entire Cora Exchange capitalization at a point far above its market value. Therefore National City stockholders refused to ratify...
...That widespread distributions of stock to employes have made hundreds of thousands unduly "stock-conscious...
Results. As to "results" of the break, the most important question could not be answered, i. e.: to what extent would the Bear psychology of the market spread to business generally? Through last week, optimism was certainly more pronounced than pessimism. Stock brokers were far more pessimistic than businessmen. Being, especially in the lower ranks, a provincially Manhattan lot, they seemed to think the Stockmarket would be disgraced if Business did not humbly follow its lead. Outside of lower Manhattan, Detroit was the gloomiest spot, the depths being reached by the jocular motor executive who seemed to feel that never...