Word: stockly
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Dates: during 1950-1959
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...framed Teamster constitutions that sapped power from local unions and centralized it in conferences and national officers. CJ Seattle's Sam Bassett, 61, a quarter-century Beck intimate, arranged secret Teamster loans to truckers, joined Teamster officials in borrowing union funds to make a killing on Campbell Soup stock...
Whether the market is at a record high depends on which yardstick is used. Like the Dow-Jones, Standard & Poor's index of 425 industrial stocks was close to a record at 52.06, only a shade under the alltime high of 52.18. On the other hand, the New York Times index, at 556.67, still had a good way to go to its 590.96. Moreover, the averages are heavily weighted in favor of leading blue chips, most of which have risen in the bull market. Thus they do not show that many another stock has declined. Some...
What has happened is that the supply of money pouring into blue chips has grown faster than the supply of stocks. While the total number of listed shares has increased from 1.8 billion to 4.9 billion since 1946, the increase is deceptive, has not really increased the floating supply of stock to that extent. Many of the new shares are the result of stock splits, and dividends go to those already holding the stock. Most investors who receive extra shares continue to hold them, thus keeping much of the added stock out of the market. Major mutual funds alone have...
...first to admit that "we have a long way to go"-and that the road ahead will be slippery. Though Litton's profits reached $3,700,000 in the last fiscal year, they have yet to live up to the price of his highly touted, fast-rising stock, now selling at 56^-or 26 times earnings. The competition in the industry is growing so rough that competitors still question whether Litton is strong enough to compete over the long run. Tex Thornton himself expects that many a promising, new electronics maker will be shaken out of the industry. Says...
Congress decided the issue Schenley's way. Last week Schenley President Lewis S. Rosenstiel said that his fight was not for Schenley alone, pointed out that virtually every distilling stock has risen since Congress acted, many to new highs. (Schenley's rose the most, from 18½ earlier this year to 31½.) Distress selling of whisky to collect the tax is now over, said Rosenstiel, and there is no reason for "senseless" price wars...