Word: stockings
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Dates: during 1920-1929
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...I.ast week Mr. Raskob announced his idea for a giant investment trust for small-capital men. Theory: Let a workman take, for example, $200 to the proposed trust. For $200 he would be allowed to buy $500 worth of stock, borrowing the other $300 from a bank or subsidiary company, with his stock as collateral. He would then repay the $300 at the rate of $25 a month. Thus might small-capital men, instead of spending on the installment plan for radios, motors, refrigerators, invest in installments in sound "rich-men's" securities...
...speech was defense by attack. Delivered before Chicago brokers and businessmen, it defended the Stock Exchange by attacking the Federal Reserve. Outstanding points...
...speechmaker was Edward Henry Harriman Simmons, who has been President of .the New York Stock Exchange since 1924-longest term in history...
...Five. No uncommon occurrence is a stock split-up on a five-for-one basis, involving exchange of five new shares for one old share, but a stock split-up involving one new share for five old is not so unusual or so pleasant. Such, however, was the arrangement last week urged by P. A. S. Franklin, head of International Mercantile Marine Co. (operating the White Star,* the Red Star and other lines), who suggested reduction of capital from 120 million dollars to 30 million. Not only were common stockholders asked to turn in five shares for one, but holders...
Three-for-One. The more usual variety of stock split-up was reported by Hiram Walker-Gooderham & Worts, Ltd., of Canada, shareholders approving a three-for-one split-up, with rights. Hiram Walker is, of course, famed as whiskey-maker. U. S. interest in the split-up was keen in Missouri, whose Congressman Leonidas Dyer recently purchased Hiram Walker stock without knowing the nature of the product and sold, precipitately, at a loss, when the horrid truth became evident to him. Congressman Dyer talked of suing the Manhattan Curb to get back his lost money. Had he not been...