Word: throgmorton
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Dates: during 1940-1949
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Despite Cripps's inveighings against "profiteering," Britons who had bought South African gold shares, in anticipation of devaluation, made whopping profits. Two thousand traders, shut out of the Stock Exchange, gathered outside the building on Throgmorton Street. For an hour the crowd was quiet. Then one trader made a bid-and the boom was on. Brokers, jobbers and clerks shouted orders. Clothes were torn and hats battered...
...others have a less depressing explanation: that the progress of World War II has been marked by a two-year lag between U.S. and British experience. London hit its market low in the summer of 1940, after the collapse of France. Thereafter its war production drive became singleminded, Throgmorton Street became practically impervious to bad news (including the fall of Singapore), and the market reacted mainly to the compulsion of too much money and too few goods. The U.S. had its Dunkirk at Pearl Harbor, only five months ago, and the same forces are only now beginning to be severely...
...levels. In Shorters Court, the dingy yard where 400 yelling traders often moiled till 10 p.m., there is now no trading at all, for "Yankees" (U. S. securities) formerly traded there are all Government-held. Two fire engines block the narrow passageway to Shorters. Throgmorton Street, a sort of Curb exchange for oil and mining shares, is empty too. In the idle House, the brokers drill four nights a week for home defense; by day they play Spitfire pools. These pay off on the number of "Jerrys" brought down by R. A. F. each day. The proceeds buy new Spitfires...