Word: stockmarketeer
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Dates: during 1930-1939
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...Charles A. Beard indict the U. S. railroads before the Senate Interstate Commerce Committee last fortnight. Something of an authority on railroad mismanagement. Historian Beard was urging adoption of a pending Senate resolution authorizing a railroad investigation on the order of the Banking & Currency Committee's famed stockmarket probe. Even Jesse Jones, whose RFC millions have not prevented the worst succession of railroad failures since the days of Jay Gould, has admitted that the investigation "might be a good thing...
...alarmed the nominating committee that it dispatched a plea over the ticker requesting members to refrain from any & all unofficial voting. And from his chambers New York Supreme Court Justice Ferdinand Pecora issued a hasty denial that he sought to influence the coming election by an article on the stockmarket which he lately wrote for Collier...
...fall of the pound has helped intensify the gloom but no single cause can be spotted. Business has tapered off very little from the peak of the upswing that began last autumn, yet the stockmarket last week rounded out a long month's decline...
...numbered slip. Instead of settling individual transactions, each broker records his trades as he would on the Floor, turning over to a volunteer "clearing agent" for "settlement" at the end of the game his "bought" and "sold" memoranda. The game goes on until trading peters out or the real stockmarket stirs in its sleep. Losses have run as high as $200 in a single game but the average gain or loss is between $10 and $20 per "session." Lately the Stock Exchange Governors banished the game to the smoking room but there two groups are usually in session. For peeking...
True, the stockmarket greeted Chief Justice Hughes's pronouncements last fortnight with a skyrocketing rally but prices soon relapsed and trading dropped back into its old rut. Bonds, notably Governments, climbed to new records but as a business shot-in-the-arm the gold clause decision was a notable flop-with one exception. The two biggest U. S. steel companies perked up enough to announce for 1935 big programs of expansion and improvement...