Word: stockmarket
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Chairman Huston, whose temporary use of Muscle Shoals lobbying funds for his stockmarket account caused loud demands for his resignation, had promised a statement when the Senate adjourned (TiME, July 21). When the Senate session did end, Mr. Huston was nowhere to be found. President Hoover despatched scouts in search of him. James Francis Burke, general counsel of the National Committee and Joseph Randolph Nutt, its treasurer, hurried to New York on a tip, cornered Mr. Huston at the Ritz Carlton Hotel, presented a White House ultimatum, sped back to Washington to report to the President. Next day Mr. Huston...
...bull market and fancies himself a financier. On the side and from time to time he also chaffs men of less strawy mold, notably Banker Charles Edwin Mitchell (National City) for his extremely bullish utterances, his apparent unawareness of what was going on, just before the late great stockmarket crash. Otto Munson, umbrella-rib manufacturer, sells his business for $20,000 and buys everything he can on margin. Unable to go wrong in the kind of market he has to deal with, he begins to clean up, and before a year is out is worth (on paper) over a million...
...abrupt break in the stockmarket at Bombay, followed by closing of the Exchange "indefinitely" was a result last week of an address by Baron Irwin to both Houses of the Indian Legislative Assembly, still fuming over the Simon report (TIME, June 30 et ante). Baron Irwin said that he spoke "rather as friend than as Viceroy," referred to India as a "country," declared in ringing tones: "His Majesty's Government last year authorized me to declare that, in its view, the attainment of dominion status was the natural completion of India's constitutional growth. That declaration was made and [despite...
...Stockmarket traders last week found themselves forced back to the neighborhood of the line established by last November's panic. Stocks stood generally at or near their 1930 lows, which in several cases had sunk even under the 1929 panic figures. Lowered money rates and reduced brokers loans had no effect. It was generally felt that bear operators were ready and able to force continued lows during the present week...
...Among stockmarket issues near or below their November 1929 prices were...