Word: stockmarket
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Faced with these cold facts, money-losing corporations, which had kept payrolls fat in hopes that peak production would pull them out of the red, now began to think about trimming. After the stockmarket crash, Wall Streeters had predicted that many a businessman would start using the ugly word "retrenchment" instead of expansion. Last week, in one of the country's key industries, at least, it looked as if the retrenchment had started...
...finger in the financial pot. He made friends with the great London bankers, J. Henry Schroder & Co. and Alfred Loewenstein, the hard-headed Belgian who came up from nothing to be rated as third richest man in the world, controlling a worldwide utility empire. And V.E. played the stockmarket. By 1928, when he had just turned 30, he was worth some $40,000,000-on paper. But it was not enough. It just whetted his appetite...
...Chicago retailer exclaimed: "New York gets discouraged by a seven-point drop in the stockmarket but by the time the flash gets here, we're only two points discouraged. Five points get lost in the Illinois corn...
...time the stockmarket slump reached Southern California, it had become for many a storybook affair concocted of wishful thinking. "It's manipulation and you know it is," snapped an angry Los Angeles businessman...
Stockbrokers came back from their Labor Day weekend with nothing to worry about, apparently, but their golf scores. There had been no new shocks, international or otherwise, to the queasy stockmarket. Then it happened. At first, orders to sell were only a trickle. Soon they became a flood. More & more holdings were dumped, until nearly every stock on New York's big board was skidding...