Word: stockmarket
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...next problem was money. Pyke solved it by studying the stockmarket, making a carefully calculated killing. This enabled him, in turn, to tackle the problem of educating his son. Since he could find no school in tune with his own ideas, he founded the Malting House School at Cambridge, a fabulous institution (annual cost per student: $4,000) where children aged four to ten were taught laboratory physics and chemistry before they could read or write. Pyke went back to the stockmarket for additional funds, but this time the professionals ganged...
...last week's showing, they could not be sure. Grain prices seemed to have found an uneasy bottom. Corn and wheat seesawed, ending the week about where they started. The stockmarket also caught its breath; trading was small and cautious. Traders, like most other businessmen, were waiting to see how severely the crash in commodities had shaken the boom. Last week, a few soft spots appeared...
Next morning the panicky selling spread to other grains, drove both wheat and corn futures down their full permissible limits (10? a bushel for wheat, 8? for corn) for the day. In New York City the stockmarket, alarmed by the tumble in grains, had its worst break since last April...
...noon, the closing gong ended the worst week the pits had seen in seven years. Cash wheat had fallen 41⅝? a bushel to $2.46½. Cash corn was down 49¾? to $2.13. In sympathetic spasms, almost every other commodity had tumbled with them. The stockmarket had steadied by week's end, but before it leveled off, the Dow-Jones industrial average had dropped 6.24 points to 168.81, lowest since June...
Still Consistent. But whereas he advocated Government spending in depressed times, Eccles has fought easy-money policies during the postwar inflation. He tried to keep the clamps on installment buying, favored high margin trading on the stockmarket, recommended the virtual doubling of reserve requirements in commercial banks. From Robert Taft, last week, he received this left-handed accolade: "Mr. Eccles may be a New Dealer but he is at least consistent...