Word: wall
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Dates: during 1960-1969
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Died. Chester Dale. 79, keenly perceptive Wall Street broker who amassed one of the world's best collections of modern French painting; of a heart attack; in Manhattan...
...rooms around the country, businessmen were impressed that President Kennedy had talked even tougher to Khrushchev than to Roger Blough. Heartened too by signals of economic upturn, managers stepped up their spending for plants and machines in the fourth quarter to a record yearly rate of $38.4 billion. On Wall Street the big mutual funds and pension funds moved back into the stock market (though badly singed small investors continued to spend their money elsewhere), and the market recouped 55% of its $96 billion paper loss. The mood in business changed profoundly: instead of looking for a sharp recession...
...economy performs in 1963 will depend largely on whether the President can persuade Congress to vote a sizable cut in income taxes. U.S. businessmen, enthusiastically on the President's side for a change, view the proposed tax cut much as a company might view a loan. Says influential Wall Streeter Sidney Weinberg, partner of the investment banking house of Goldman, Sachs & Co.: "It's just like when General Motors invests in a new plant?it gets its money back over a period of years...
...with its '625 to nearly 11.6% with the '63s. If this percentage gain is held all year, it could mean a $350 million increase in Chrysler's sales. Already it has virtually ensured that Chrysler's 1962 earnings will be at least $50 million. In response, Wall Street has bid Chrysler's stock up from its 1962 low of 38 to last week...
...private secretary of the noted Wall Street broker was so shocked at her boss's extracurricular extravagance that one day she decided to speak to him about...