Word: walls
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Dates: during 1950-1959
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Nearly 1,000 runners from Wall Street underwriters and dealers converged one morning last week at 1 William Street, home of Manhattan's old (108 years) Lehman Brothers. The runners turned over checks for $183,070,380, picked up 15,833,114 shares of Lehman's new One William Street Fund, Inc.-the largest initial financing ever made by an investment company. Then Lehman Senior Partner Robert Lehman turned a check for the total amount over to the Fund president, Dorsey Richardson. Lehman originally planned to sell only 3,000,000 shares. But demand proved so great that...
...growth has come in the open-end funds, whose assets total $9.5 billion (see chart). They are so big that some Wall Streeters fear that a wave of redemptions from worried investors might force a market break. But in all the recent sharp market breaks, the funds have bought, not sold, and thus given stability to the market. Recently the funds, thinking the market too high, were cautious about buying; of the 15 largest funds, twelve reduced their percentage of common-stock holdings in the first quarter...
After Post died in 1914, the company went on a stock-swapping spree. Led by President Colby Chester and Chairman E. F. Hutton (who married Post's famed daughter Marjorie and is still a partner in the Wall Street brokerage firm carrying his name), the company from 1925 to 1929 picked up many of the best-known U.S. food processors. Among them: Baker's chocolate, founded in 1765, which Postum got for $9,000,000 in stock; Maxwell House (for $46 million); Jell-O ($44 million); Birds Eye ($22 million); Swans Down ($7.4 million); also Minute Tapioca...
This Angry Age (De Laurentiis; Columbia). "There were many children in the plain," wrote Marguerite Duras in The Sea Wall (TIME, March 16, 1953), the brutally beautiful French novel about Indo-China on which this film is based. "They were a kind of calamity . . . They came each year, by periodical tides, by crops. They were everywhere, perched in the trees, on the backs of buffaloes . . . in the mud, looking for the dwarf crabs of the rice fields, [and] they were always followed by packs of stray dogs, whose . . . main nourishment was their excrement . . . They died in such numbers that they...
...long years she pounded the keys and squeezed the centimes until she had enough money to get a farm-and then bought a plot of lowland that the sea invaded every summer, carrying off the harvest before it could be gathered. Indomitable, Ma built a wall of mangrove logs to keep the sea away, but a storm came and broke the wall in a single night, and broke Ma too. She kept on talking of the things she was going to do ("We'll have a show place here some day!"), but after that she never did them...