Word: stockly
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Dates: during 1950-1959
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...Herbert J. Yates, 78, president of Republic Pictures, one of the few old-line movie bosses left in control of his own studio, was hit by a stockholder's suit intended to deprive him of control. In the suit, a New York accountant charged Yates with improper stock deals and with running Republic "as though it were a private business.'' Supporting item in the complaint: for years Yates has been casting his wife, aging (37) Vera Ralston, possibly one of the most wooden actresses ever to appear on a screen, in a series of money-losing movies...
Shaking off warnings from the Federal Reserve-and many a market analyst-investors continued to buy stocks and dump bonds last week in a speculative drive that sent Dow-Jones industrials up 2.15 points to 508.28, within four points of the year's high. While confidence in the nation's overall economic health is a factor in the rise, soaring stock prices have outdistanced foreseeable earnings. A bigger factor is the fear of inflation, which has grown so strong that many investors break previously accepted rules in their race to cover themselves against a possible decline...
...serious inflation will probably rise faster than retail prices, offering no protection to profits. So heavy is the buying that many blue chips have been priced almost out of the market. More and more investors are turning to low-priced speculative issues as repositories for their money. Such stocks represent only 6% of the value of all issues listed, but they have accounted for 37.2% of the trading activity on the New York Stock Exchange this year...
...first market corner in several decades occurred on Wall Street and caught short sellers in a classic trap-without stock to deliver unless they paid fantastic prices. The corner was nothing like those when Morgan and Harriman battled for the Northern Pacific, gobbling up so much stock that shorts had to bid Northern Pacific from $170 to $1,000 in one day. But it was bad enough. In a single day, the stock of E. L .Bruce Co., a small Memphis hardwood flooring manufacturer, jumped $100 a share after the American Stock Exchange ruled that short sellers had to cover...
What the shorts got caught in was a war for control, which saw almost all the company's stock taken out of circulation. Originally, the shorts had sold at a price of about $42, expecting the stock to decline because book value and earnings indicated a price closer to $30 a share. They guessed wrong. Trying to oust the Bruce family management, which owns 31% of the 314,600 shares outstanding, New York Manufacturer Edward Gilbert and his associates began buying, sent the price to $77 by June. More than 280,000 shares were traded, including at least...