Word: wall
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Dates: during 1930-1939
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...Roosevelt Field is largely taxi service and training schools. Bendix, in New Jersey, developing fast from the days when it was famed under the name Teterboro, hopes for airline patronage, so far has none. The two seaplane "Skyports" in the East River, at 31st Street and the foot of Wall Street, are important private landings which serve such potent business figures as Henry Morgan, Harry P. Davison, Roland Harriman and Rudolph Loening. Other fields-Flushing, Edo, Holmes at Jackson Heights and Jamaica-are important only to manufacturers of aircraft, students, amateurs and taxi services. Newark still dominates metropolitan air facilities...
...shut tight, timidly reopening only after informal "black-bourse" trading had reached such sizable volume that brokers grew envious. At first all business was on a cash basis, but to nearly everyone's surprise prices started to climb and the Wartime boom was on. Early last week Wall Street had occasion to recall those historic days, for a thundering war scare shook the New York Stock Exchange in the worst one-day break since...
...been falling steadily for three weeks. Supposedly it had fully discounted both war in China and a sudden wave of pessimism over fall business prospects. But the day sun-browned brokers returned from their holiday, a first-class European crisis burst on the front page. Apparently it caught Wall Street at a psychologically vulnerable moment. The market was thin, the selling persistent. Routed from its long rut, the trading volume soared to 1,870,000 shares, and at times the ticker was as much as three minutes behind the floor. When the closing bell bonged that day 385 stocks...
With the Reserve Board's move creating not confidence but more confusion, Wall Street came to the inevitable conclusion that it was all the fault of the New Deal. Last month Stock Exchange President Charles R. Gay took the unprecedented step of warning the Securities & Exchange Commission that the thinness of trading, resulting directly from, market regulation, would in time produce "abnormal market conditions" (TIME, Aug. 30). Last week President Gay's gloom seemed justified indeed...
...average insider would rather speculate in any stock than the one he knows best. Purpose of restriction on inside trading, like that of all the New Deal's securities regulations, was to make the market safe for the true investor. Violent and unjustified fluctuations were to be ended. Wall Street last week was asking whether the result, ironically enough, was to make the fluctuations more violent and unjustified than ever...