Word: stockmarket
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...Federal Reserve Bank from 3 to 3½%. The rate had not been changed since Aug. 8, 1924, when it was lowered from 3½ to 3%. Considerable conjecture arose as to the cause for raising the rate, and whether it indicated a move to halt speculation in the stockmarket. Most editorial writers decided to the contrary −a position which the bank's own statement confirms. The New York Bank rate at 3% was below the market rates and also under every other Reserve Bank− Boston, Philadelphia, Cleveland and San Francisco already standing...
...stockmarket held up well, although the change in the rate came as a complete surprise. This was not, however, at all unusual, since an advance in the rate had been long expected, and since the meetings of Reserve officials wherein rate changes are adopted have never yet disclosed any "leaks." Wall Street can usually gain, in one way or another, advance information concerning action by corporations as to dividends, and even moves of individual banks in ordinary business, but the "Reserve crowd" are noted for being a close-mouthed aggregation; and in this last rate change, they very completely lived...
...stockmarket, which has lately been the band ahead of the Business Prosperity Parade, a purely technical reaction has occurred. Meanwhile, industrial and commercial news continues to grow more favorable. Commodity prices at wholesale are experiencing a sharp rise. Gasoline is being marked up. The steel industry is operating at about 85% capacity, while other metallic industries are doing well. Automobile companies, despite keen competition, anticipate good business this coming year. Except for a handful of roads, among them the St. Paul, the railroad outlook is singularly good. Moreover, the absence of sensation in business at present is a sign...
...stockmarket, prices of shares have resumed their long upward rise. The public is interested in stocks and is as usual optimistic...
...Hertz abjures all this: "I have had a bitter lesson. I was pitch-forked into the stockmarket; now I am going to pitch myself out of it. ... I have done nothing for the last six months but worry over the stockmarket action of our securities. I had an eye glued to the tape most of the time and missed many a good night's sleep. I am through with this forever. . . . Surplus earnings from now on are go- ing to be ploughed back into the company...