Word: stockmarket
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...When the stockmarket closed last week, 60 stocks had made new highs for 1935, while New York, New Haven & Hartford was sinking to a record low (see below). Dow-Jones averages on 30 industrials showed a week's rise of 4.38 points. Moody's Investors' Service reported that 70 industrial companies reporting nine-month 1935 earnings were 17% ahead of 1934. Many of the market favorites were selling at two or three times their lows of last March. Cheered by Chrysler and General Motors earnings, excited by the approach of the New York automobile show...
...Manhattan's Grand Central Terminal to perform the saddest duty that ever devolves upon a railroad man. He announced that the New Haven could not meet its obligations, was filing a reorganization petition under the Bankruptcy Act. Mr. Palmer's announcement was hardly a surprise. Indeed, the stockmarket was so resigned to the huge collapse last week that shares of other carriers actually rose after the bad news was out. Alone in their decline were New Haven bonds, which dipped to 25? on the dollar, and New Haven stock which sold at an all-time...
...predicting that stock prices will become inflated. I recognize however, that the stockmarket provides an inviting field. . . . Here we can have inflation in an insidiously pleasant form, under the guise of visible, day-by-day 'profits.' . . . Like a thin spot in a tire casing, the stock-market might conceivably become inflated the more, because of the inflexibility of other parts of the structure to which inflationary pressure is applied...
...double reserve requirements which would nearly wipe out the current reserve surplus of $2,800,000,000 -base for ten times that amount of credit. Present excess reserves could also be sterilized if the Federal Reserve banks sold all their Government bonds. And the Federal Reserve may boost stockmarket margin requirements to 100%-cash trading...
...stockmarket promptly passed judgment on its president's speech by darting upward. Wall Street funsters called it the beginnings of the "Great Gay Market...