Word: stockmarket
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...press conference the President still had nothing to say, no announcements to make. Questions poured in from newsmen. The skidding stockmarket? The President was interested, of course. But he had no comment. The maritime strike? Still in the hands of the Department of Labor. A special session of Congress? The President didn't think there was any emergency that would require it; Congressmen were entitled to an uninterrupted spell of politicking...
Trouble in Stocks. Nor was the stockmarket, the consensus of guesses on the business future, reassuring. For the second consecutive week it cracked badly. The Dow-Jones index of industrial stock prices fell 5.95 points in one day, the sharpest break since May 1940. By week's end it was down 8.56 points to 189.19. The decline was as steep as the one which signaled the collapse of the last big bull market in 1937 (see chart). (Some Gloomy Guses observed that the 1937 recession was also preceded by piling up of inventories...
Just before Peron put on the sash of office, he brought about Government control of the six great Argentine universities, the Buenos Aires stockmarket, the all-powerful Central Bank, and the Industrial Union (equivalent of the U.S.'s National Association of Manufacturers). Once inaugurated, Peron paid off some old scores. The Government bureaucracy got the biggest shake-up in a generation; everyone "not identified with revolutionary ideals or imbued with the precepts of social justice" was suspect...
...price rises in one week of free markets, big as some were, were not enough to persuade Wall Street that this was to be the pattern. The stockmarket rose slightly at the beginning of the week, then sagged down again. For four years, the Big Bull market had been riding up on inflation. Now, when there were cries on all sides that the greatest inflation was yet to come, cold-eyed speculators were not so sure. They wanted to be surer before they...
...Standard's slick C. Stirling Smith for juggling B. of L.E. collateral of doubtful value to window-dress Standard's shakiness. The Grand Chief Engineer had to admit on the witness stand that, as president of the predecessor bank, he had borrowed some of its funds for stockmarket speculations-at a $36,000 loss to the bank. Along with Smith, previously convicted as an embezzler, Johnston was found guilty of misapplying funds and making false entries. An Ohio appellate court tossed out the Johnston conviction as against the weight of evidence, granted a new trial; then the case...