Word: wall
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Dates: during 1960-1969
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...York Stock Exchange last week announced that more Americans than ever-20 million in all, or three times as many as 13 years ago-now own stock. The fact was impressive, but few cheers were heard on Wall Street. Reason: not many of the 20 million seemed to be doing any buying. Confused, uncertain and frequently just plain listless, the stock market drifted down for the sixth straight week, sold off heavily on one day and closed the week with a loss of 24.75 points on the Dow-Jones industrial average. At 854.42, the market had reached its lowest point...
While puzzling over the market's performance for the past few weeks, Wall Streeters have centered much of their speculation on those powerful but somewhat shadowy giants, the institutional investors. The institutions have become so wealthy that their assets now bulge above $600 billion, nearly as much as the U.S.'s gross national product; they currently account for close to one-third of the $60 billion-a-year trading on the New York Stock Exchange. Clearly their decisions to buy or sell have a powerful impact on which way the market goes. Lately these large investors have been...
High & Rising. All the talk about the institutional investors has heightened public curiosity about the size, scope and nature of their market operations. The largest of the lot are the life insurance companies (assets: $151 billion), but their influence on Wall Street is limited because state laws and inbred conservatism have held their stock investments to only $6 billion. Much more active in the market are the fire and casualty insurance companies (assets: $40 billion), the private foundations ($14 billion) and college endowment funds ($8 billion, of which $1 billion belongs to Harvard). By far the most important, however...
...fund amounts to $4.7 billion, and U.S. Steel, General Motors and Sears, Roebuck each approach $2 billion. The pension funds, into which the employer usually pays all the money, are run by a mixed board of management and labor, which heeds the advice of a bank or a Wall Street investment house...
...producer, six weeks ago changed its brand name to Citgo and its pumps from green and white to red, white and blue to stimulate sales. The company has diversified into copper mining and cable production, printing inks, fertilizers, and even real estate (a string of five Wall Street skyscrapers). It now gets about 60% of its $1.17 billion operating income from non-oil sources. To handle this complex, the directors wanted someone with broad management background-and Burns seemed to fit the bill...