Word: wall
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Dates: during 1930-1939
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...drag-out scrap Bill Douglas was surprised and pleased by the new exchange proposal. The Conway committee was made up of three exchange members, two nonmember partners and four outsiders, of whom one was New Dealer Adolf A. Berle Jr. and another, Publisher Kenneth C. Hogate of the Wall Street Journal. Last week Wall Street gossip gave Vice Chairman Trowbridge Callaway most credit for the committee's success. Their conclusion: "It is apparent to us that the organization of the New York Stock Exchange should be revised to accord with changing times and conditions." Their major proposals...
Last August the stock market climbed to a peak of 190% the Dow-Jones industrial averages, but trading was extremely thin. While Wall Street was complaining of a shortage of business due to overregulation, prices turned downward...
...where it is necessary to invest about $6 to do $1 worth of business (U. S. utilities last year had total gross sales of $2,200,000,000 from a fixed capital of $14,370,000,000) financing is vital. Therefore top utility men must be financiers primarily and Wall Street has logically become their headquarters...
...Deal disapproves of this on the ground that the system of subsidiary operating companies, pyramided to a peak in Wall Street, provides an irresistible chance to overcapitalize at the expense of stockholder and consumer. Hence, while Electric Bond & Share"undertook a major court battle against the holding company "death sentence," United presented seven successive plans to SEC, all designed to enable it to continue to exist in the form of an investment trust. Having turned all the plans down, SEC anticipated few friendly overtures. When these suddenly came from Mr. Whitney about the time that Franklin Roosevelt declared a truce...
...Wall Street word promptly went the rounds that Mr. Whitney's retreat came after a bitter squabble in the utility family in which members of the industry brought pressure to bear on United Corp. to maintain the united front. Telling the story last week, Commissioner Douglas heaved a long sigh of discouragement. "What can you do?" he asked...