Word: stockly
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Dates: during 1950-1959
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...stock market's steep climb is beginning to cause more uneasiness than cheer. Last week, just after the market hit a 1958 high of 510.33 on the Dow-Jones industrial average, the Federal Reserve Board joined the ranks of the worriers. Noting that customer credit had increased by $746 million in the first half of the year, it raised margin requirements (i.e., the minimum cash payment required on stock purchases) from 50% to 70%. While the Fed thought its action would act as a damper on speculation, changes in margins have usually had almost no effect on the market...
...last week word leaked out that he was chasing one of the brightest properties in the nation: the Baltimore Sunpapers, which thrive on civic crusades and solid, sober news coverage (six foreign correspondents, a nine-man Washington bureau). Newhouse has offered to buy between 51% and 70% of the stock of A. S. Abell Co., which owns the three papers (morning circ. 196,725; evening circ. 214,938; Sunday circ. 317,648), plus the Sun's TV station WMAR. Estimated price for 51% control: $20 million. So eager is Publisher Newhouse to get the prestigious Sunpapers that he might...
...week's end shares of aluminum and copper helped lead the stock market to a new high for the year on the strength of price rises. The Dow-Jones industrial average closed the week at 505.43, highest since Aug. 1, 1957, after the market turned over 18,760,460 shares for the heaviest week of trading since last October...
LOUIS WOLFSON got out from under SEC charges of manipulating American Motors Co. stock by signing consent decree pledging not to perpetrate "fraud or deceit" on future buyers of A.M.C. shares. SEC action was light wrist slap for Wolfson, who made about $1.7 million in A.M.C. stock dealings, now avoids a public airing of his deals. But in future attempts to move in on corporations, Raider Wolfson probably will have to show on his proxy that he was once restrained by SEC for fraud...
...Chrysler Corp., whose January-July production plummeted from 832,122 last year to 370,359 this year, will get into the small-car boom by marketing the French Simca. Chrysler bought a "substantial interest" in Simca, including Ford Motor Co.'s 15.2% of stock. The Simca, which looks like a kissing cousin to Renault's fast-selling Dauphine, last year almost tripled its U.S. sales to 5,766. Its major models range from the 57-h.p., four-cylinder, 96-in.-wheelbase Aronde, priced at about $1,700 in New York, to the 84-h.p., eight-cylinder...