Word: stockmarket
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Next to the Big Board and the Curb the leading U. S. stockmarket is the Boston Stock Exchange, a large part of whose volume is made up of trading in standard stocks with a State Street flavor. The Chicago Stock Exchange ranks fourth, the San Francisco Stock Exchange fifth. Smallest registered market is the New York Real Estate Securities Exchange, where, during the depth of Depression, days would pass without a single sale. Typical little stockmarkets are the following...
Last week the stockmarket was running into the fourth week of a dragging decline. This week a number of developments including the French elections (see p. 22) and President Roosevelt's "economics" speech (see p. 13) caused the sharpest recession since July 1934, with representative stocks dropping from one to nine points on the New York Stock Exchange. Since early April the Standard Statistics stock average has dropped from 124.9 to 110.9. After more than a year of rising prices such a reaction was not precisely surprising. However, the market's downward drift was accompanied by something more...
...seer, Colonel Ayres is by no means infallible. Though he viewed the 1929 stockmarket with a jaundiced eye, he was talking about the "last phase of the Depression" as early as the autumn of 1930. He can analyze other people's analyses with devastating results. Yet his own conclusions are often challenged, and his vision is sometimes curiously narrow. But given a popular economic delusion, he can demolish it in one swift paragraph. His prestige has grown uninterruptedly throughout Depression, while the stature of other economic prophets was shrinking rapidly. Today he is one of the most-quoted bank...
...Securities & Exchange Act upon Wall Street was a notable improvement in demand for margin clerks, that unsentimental class of brokerage house employes whose thankless task it is to keep tabs on customers' accounts. For the guidance of the Federal Reserve Board, which administers the credit end of Federal stockmarket control, Congress suggested a dual formula for fixing margin requirements which has been in effect since 1934. A broker could lend a customer the greater of either: 1) a flat percentage (now 45%) of a security's current market value; or 2) 100% of the lowest price-since July...
Biggest question mark confronting both business and the stockmarket was not the extent of the spring rise but what will happen after the rise has run its prosperous course. By that time the business atmosphere may be thickening with campaign politics. There is no sound historical evidence that Presidential-election years are worse for business than other years. But both business and the stockmarket will be almost pathologically conscious of politics...