Word: stockmarket
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...definition Bernard Mannes Baruch is a "practical economist." His theory has been applied in the most hazardous of profit mediums-the stockmarket. But of Mr. Baruch, his old boss. Columnist Hugh Johnson wrote last week: "His effectiveness as a practical economist is suggested by his own magnificent solvency." Last week before the Senate's Special Committee to Investigate Unemployment & Relief Mr. Baruch had a lot to say about his country's solvency, which is currently not magnificent. He took two days to say it, and when he was through his testimony was hailed as the "heaviest...
...traders for the first time in three months sold more shares than they bought. For four successive trading days small transactions in lots of less than 100 shares-supposed to be a good index of what the public, as opposed to the professional, is doing in the stockmarket-showed sales exceeding purchases. Since the public had been a consistent buyer during the recent market decline, this suggested to Wallstreeters that the old market adage, "The public is always wrong," was still true. But SEC suspected something else. It launched an investigation to find out whether the sudden change...
...transatlantic season. The cruising business has not yet been materially affected by the present depression except for the abandonment of the sold-out Round-the-World cruise of the Bremen scheduled for February 1938-due partly to cancelations by passengers after the early autumn recessions of the U. S. stockmarket, partly to cancelations because of the alteration of the cruise route from the Orient to the Antipodes. In the main, however, battles in Spain, China, unrest in the Holy Land, North Africa and the Mediterranean have simply diverted cruises to South America, Scandinavia, New Zealand, Australia, South Africa...
...year's emptiest. Furniture sales were 30% less than last year. But indices, being statistical compilations of past events, are always a bit behind the times. More intangible but more up-to-date indications last week seemed to point in the other direction. The New York stockmarket completed ten days of solid gain with Dow-Jones industrial averages reaching 128. Moody's commodity price index was up from 144.6 on November 24 to 149.2 last week with industry buying heavily for the first time in months. And Bernard E. (''Sell 'em Ben") Smith, most famed...
...than last year. About the only thing that could have halted a market slide in the face of such statistics was good news from Washington. This there had been for Little Business, in that part of the President's address to Congress which favored lowering their taxes. The stockmarket, however, is dominated by Big Business...