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This week, in a new history of the British press called Dangerous Estate, newsmen may find a timely re-evaluation of their basic role on both sides of the Atlantic. Written by Francis Williams, a veteran Fleet Streeter who was editor of the Laborite Daily Herald before the war and now edits the Socialist Forward magazine, the book was hailed by the London Observer's reviewer as the best study of the press he had read, praised by the London Times and recommended by the Manchester Guardian as "required reading...
Nevertheless, every real Wall Streeter knows that Standard & Poor's daily average, like the Dow-Jones, is only a sketchy cross section of the whole market and thus attempts merely to show the broadest changes in trading sentiment. On a weekly basis, Standard & Poor does publish a mammoth index of 480 stocks, but for hourly and daily operations, it is impractical to calculate, such a wide selection, thus statisticians limit themselves to what they hope is a small but representative sampling. As a result, the averages sometimes show a rise in the market, when the fact is that...
...Clubs' other major extra-curricular function is performed through the University Relations Committee, formed two years ago. Its purpose, according to Frank S. Streeter '40, Secretary of the Club, is to try to build closer relations between alumni and the University by holding events in the Club emanating from the University. Thus far, the committee has organized dinners for the Graduate School of Education, the Divinity School, and the Department of Fine Arts at which an exhibition from Fogg was shown...
...Club is ruled by a board of Managers headed by the President, George A. Brownell '19; the Vice-President, Cornelius C. Felton '16; the Secretary, Frank S. Streeter '40; and the Treasurer, S. Whitney Satterlee '30. They will be replaced at the Annual meeting on January 18 by a new slate; Felton will move into the presidency; Philip B. Kunhardt '23 will be Vice-President; Frederick Holdsworth, Jr., '40 will be Secretary; and Saterlee will remain as Treasurer...
...that his own family had increased by 100 per cent (with the birth of two of his three children) and his income had decreased by the same proportion. Ten years later he wrote confidently that "I find myself not at all ashamed to be tagged a Wall Streeter." He also considers himself a "red-hot capitalist...