Word: walls
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Dates: during 1930-1939
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...after the annual slack season which this year was concentrated chiefly in September,* such figures seemed ample reason for extreme good cheer among automobile-makers. Tending their new creations in Manhattan's vast Grand Central Palace (see p. 67), makers almost unanimously anticipated their best year, pooh-poohed Wall Street talk of a major Depression. But, though this week's show in Manhattan marks completion for manufacturers of the crucial business of launching new models, to an equally important segment of the automobile industry-sales and distribution-it is only the beginning. Some 515,000 people are engaged...
...Interstate Commerce Commission on Jan. 1 removed the emergency freight rates set up in 1931. Anticipating this $120,000,000 cut in revenue, the roads in October 1936 petitioned the I. C. C. to raise freight rates on certain basic commodities. Last week it somehow became generally understood in Wall Street that the I. C. C. was about to announce a favorable decision. With throttle wide and all passengers clinging to their seats, railroad stocks thundered up, pulling the whole market along with them...
...about asking for more.* Meanwhile, however, railroad stocks on California exchanges, which had not yet closed when the I.C.C. decision was announced, surged still further ahead on the good news. New York Central closed in San Francisco $1.13 above its New York final sale. Witnessing this, many a Wall Street "market letter" went out that night predicting a thumping bull market in Manhattan next morning. Instead, to the confusion of prophets, railroad stocks and most others fell like a load of corncobs dumped from a hopper car. In heavy trading for a half-day (1,570,000 shares), the ticker...
...continue in their accustomed sales routines. And prices, already raised some 5% in August, are generally being raised some 5% more with the show. Having ridden a rough road in 1937 because of unprecedented Labor troubles, U. S. automobile men last week were noticeably free from the gloom of Wall Street...
Last week Southern Railway Co.'s twelve directors convened in Manhattan's 60 Wall Tower for their monthly meeting and annual election of officers. Scholarly President Fairfax Harrison walked in and sat down in the slot of a huge old semicircular, yellow pine dispatcher's table. The minutes read. Mr. Harrison rose and, instead of passing the chair to someone else while his name was put in nomination (as he had done for a quarter of a century), he quietly announced to the board that he wished to retire. Having served the Southern since he joined...