Word: stockly
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Dates: during 1950-1959
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Though the College is predominantly residential, and proud of it, over 11 per cent of its students now live off-campus as "commuters." Thirty years ago when the stock market crashed, the percentage was up over 40, but then Harkness gave Harvard its Houses, President Conant laid heavy stress on "national distribution," and the non-resident segment began shrinking to its present minimum...
Asked to react to "second-class citizen" as a "stock phrase," the majority considered it--and rejected it--as a description of the commuter, the most typical comment being "nonsense" followed by one of more exclamation points. Others, however, saw a "grain of truth." "Many commuters suffer from an inferiority complex . . . and show it," wrote one, and another snapped out: "I gather that as a member of Dudley I belong to an underprivileged group of some sort." A third non-resident observed that "I haven't come up against scorn; what I do resent is the automatic pity...
...investors have been stepping up their buying of European securities for the past six months. The largest single stock purchase by 26 major U.S. funds in the fourth quarter of 1958 was the holding company for Philips' Gloeilampenfabrieken, the G.E. of Holland. So many orders are going into London from the U.S. that at least two London brokers are keeping their trading desks open until 8:30 p.m. to handle orders to buy British securities. The Frankfurt stock exchange, which closes before the New York Stock Exchange opens because of the time difference, is thinking of reopening later...
...traveling New York security analysts were looking for cheaper buys than exist in the booming U.S. stock market. Though European prices have risen sharply in the past six months, stock yields are still higher and price-earnings ratios lower than in the U.S. The analysts found plenty of reasons why U.S. investors need to be sophisticated in buying European securities. Tax laws and accounting systems differ; dangers of nationalization and freezing of capital still lurk in some countries; many European companies have yet to adopt the U.S. attitude that the stockholders have every right to look at the books...
Some German businessmen were openly cool to U.S. investment. "American stock purchases overseas," said Georg Bruns, manager of the Frankfurt stock exchange, "often have a speculative character. We need sound, long-term support from .our shareholders. Also, Germany must export capital to rid itself of high currency reserves. There are already not enough shares to meet demand...