Word: stockings
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Dates: during 1920-1929
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Shut-Down. Last week the New York Stock Exchange was again closed on Saturday so that brokers' clerks could catch somewhat up on their back records...
Break-Down. Wednesday, with 4,820,840 shares, marked a new high record for a day's trading. More important it marked the worst break in stock market prices of the present expansion. They had been dancing an exuberant tarantella; they suddenly clattered into a noisy breakdown. They dropped without warning 5 to 40 points. American Telephone & Telegraph stock, one of the few important ones listed, not only did not wobble, but even rose during the week. But then directors had decreed $185,000,000 of new stock at par to shareholders. General Motors held unusually firm, considering that...
Wright, now producing 100 motors a month, also announced the second melon* of the U. S. aviation industry. It offered holders of five shares the right to buy one new share at $100. With Wright stock selling at $214 on one afternoon last week, each right was worth some $19. With 250,000 shares of Wright stock outstanding, the melon has a paper value of some $4,750,000. So stimulated, Wright stock jumped to $245, but closed the week at $202.50. On the day before Col. Lindbergh crossed the Atlantic, this stock could have been bought...
...since its reorganization in 1923 under the leadership of Clement Melville Keys, has become a miniature General Motors of the air-makers of the complete plane (fuselage, engine propeller, accessories). Founder Glenn Curtiss, no longer with the firm, is in the real estate business in Florida. Last week, Curtiss stock reached a new high of $192.75 and closed at $145. On the day-before-Lindbergh, it was easily obtainable...
Madness. The frenzy of trading on the New York Stock Exchange last week surpassed all previous spectacles. From the floor a ululant howling roared; brokers milled around; pages and messengers doubled around huddles of bidding brokers; brokers chanted a litany of bids & asks at each other, and sweated like the marching monks in Tannhäuser. Visitors in the iron-railed balcony peeked at the madness below for a few minutes, and were politely hurried out by grey-dressed attendants. When Friday was done the brokers were glad that the Exchange governors had decreed Saturday a day of rest...