Word: stockmarketeer
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Dates: during 1930-1939
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...investigation of manipulation in Bellanca Aircraft shares by famed Broker Michael J. Meehan (TIME, Nov. 4, 1935 et seq.): A Decision, the first involving manipulation since SEC was set up, ordering Broker Meehan barred from all U. S. stock exchanges. To the nervous little broker whose name in stockmarket history was written in Radio stock during the Coolidge bull market, the order will mean little in money, much in honor. His health broken by SEC's interminable proceedings, Mike Meehan has not been active for more than a year and a half...
...seriously believed, during the stockmarket's long slide last spring, that Recovery was over. What was feared then was that the combination of strikes, rising labor costs and higher commodity prices would make for slimmer profits. That fear was by no means without foundation but it was exaggerated, as usual, in the stock-market's behavior. Stock prices have regained on the average about two-thirds of all ground lost between March and June. And by last week enough corporations had reported earnings for the first half of 1937 to indicate clearly that Big Business was still profitable...
...change last week the stockmarket went up. It was no whooping rally; the Dow-Jones industrial averages showed a net gain of less than 3 points for the week. Daily trading on the New York Stock Exchange never reached 1,000,000 shares.* Yet Wall Street had what Owen D. Young calls a "feeling in the seat of the pants" that the market had turned a corner. From a recovery high early in March to their low in June the Dow-Jones industrials dropped approximately 15%, from 194.4 to 165.5. By last week they were back to 172.2. Mercurial shifts...
While war talk is a stockmarket depressive it is always a shot in the arm for the grain market. As the bumper U. S. wheat harvest rolled north last week, the red cereal soared to a high of $1.26½ per bu. on the Chicago Board of Trade, registered a net gain of 10? for the week. Even more important than war talk was the disastrous failure of the wheat crop in Canada, where drought & rust in the past few weeks have cut 150,000,000 bu. off early estimates of the Dominion's harvest...
...gasoline. In his day kerosene for household lamps was a utility, and public resentment of its monopoly closely paralleled the later hatred of the Power Trust. But Mr. Rockefeller was never accused of writing up assets or watering stock. When the "splinters" of old Standard Oil filtered into the stockmarket after the Trust's dissolution, they were whooped skyward on the sudden realization that the value of the operating properties had been understated by hundreds of millions. As an efficient, consistent money-making machine, the Standard Oil organization has never had a peer...