Word: stockmarket
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...from $400 to $12. Durant spent an estimated $90,000,000 trying to bolster it before he finally lost control of G.M. for good. He founded Durant Motors, aiming to start a new G.M. But this time it was no go. He piled up another fortune by playing the stockmarket, but the 1929 crash virtually wiped him out. Later, he went into bankruptcy, listing $250 (the clothes on his back) as his only assets...
...after this gloomy talk, the stockmarket had its sharpest one-day drop in six months. The Dow-Jones industrial averages fell 4.83 points to 177.05 and continued to slide down 1.21 points the following day. Wall Streeters, who have lately been blaming the "international situation" for the jittery market, promptly put some of the blame on BAE. But commodity prices, which have risen so sharply recently that many besides BAE think they are in for a bad fall, kept right on rising. March wheat futures hit a new 27-year high of 2.64¼ a bushel. How high would they...
Gloom on the Exchange. Wall Streeters jumped to the conclusion that rising food costs might upset the none-too-steady labor-management peace. The stockmarket slumped, wiping out all of the gains of two months...
...Housemaids, Invest! In Bogota, money is usually invested in real estate. But in Antioquia, industrial joint stock companies have achieved a fabulous development. Even the housemaids follow the stockmarket. The biggest investor in the Cia. Colombiana de Tabaco, the country's No. 2 enterprise, owns no more than 3% of the stock. When a new hotel or steel plant is launched, the stock issue is subscribed practically overnight. It is as though every Antioquian peso were motorized to rush into the breach at the first opportunity...
What had caused the rift? Woodhead and Gross blamed it on "the substantial decline in the stockmarket" which took place while the merger details were being arranged. They might have been more specific without raising any eyebrows. In less than a year, Convair's stock had slipped from a high of 33⅝ to 16¼ points a snare, Lockheed's from 45¼ to 18. The declines simply wiped out the differential on which all the negotiations were based...