Word: ticker
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...Over the ticker just after 12:45 p.m. went the news that 1,500 shares of Kennecott had been sold at 25-⅛ under the last sale. Next sale was 200 shares at 24⅞; then 400 at 24⅜. Could the market take it? It could. On the fourth try 20,000 shares of Kennecott went down the chute at 24⅝-up ¼ from the low, only ½ under the high...
...Wall Street market player has to be punchdrunk and nearly broke to cheer when the ticker tape stops moving. But last week such an intermission was welcome to the Street. The market turned on its side (at around 115 on the Dow-Jones industrials average) and lay still. Wrote New York Post Columnist Samuel Grafton: "The 'better technical position' assumed by the investor consists of his lying flat on his back in the gutter with one foot on the curb, his eyes closed and his mouth open. In this position he neither buys nor sells...
...Spencer Tracy, Edison beds down thriftily in the basement of a bank for which he soon contrives a stock ticker. He also has a decorous love affair with the future Mrs. Edison (Rita Johnson), invents the phonograph by left-handed chance, the electric light by hard work, battles heroically to secure the street-lighting franchise for Manhattan, signs off with honors...
...third day the market stopped to catch its breath, rub its eyes, see whether Europe really was in the mess the ticker showed. On that day 3,770,000 shares were traded, tops for the week. Net result: a rise of 0.81 in the averages, which stopped new margin calls, but sucked back into the market many a small margin trader...
...grueling a week, two ideas were too much for the market to absorb. Soon Hitler seemed to be marching across France. Out of Washington the ticker carried stories of peace before the end of summer. Down went prices again, gaining momentum. The week ended with heavy selling that broke the industrials eight points to 122.43. Export and war-baby stocks were not the only casualties. Fear spread that closing of European markets would depress U. S. income, especially of farmers, that any subsequent national defense boom would develop at the expense of general consumer purchasing power & freedom...