Word: yorke
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Dates: during 1930-1939
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Noted without comment last week by the New York Journal of Commerce was the fact that a third great group of prices in its commodity index had pushed above the average level prevailing in the boom years 1927-29. Building materials and iron and steel products have been in new high ground for some time. To these conspicuous markers on the highway to inflation were added non-ferrous metals (lead, zinc, copper, tin, etc.), which as a group have risen 46% since the commodity boom got underway last autumn...
...continued to boost the costs of rearmament, dampened London's ardor. But metals did not calm down until zinc had zoomed to the highest price in eleven years (7½ per lb.) and lead, in the heaviest trading in that heavy metal in the history of the New York Commodity Exchange, was whooped to 7¼? per lb., highest since...
...peculiar appeal to people with an itch for quick money has the stock of Atlas Tack Corp., a little Fairhaven, Mass, concern whose volatile shares are listed on the New York Stock Exchange. Four years ago, by high-powered manipulation which attracted the attention of New York's Attorney General and later drew Federal mail fraud indictments. Atlas Tack was crow-barred from about $2 to $28 per share in less than a twelvemonth. That rousing performance was almost duplicated in 1935, the stock rising in less than four months from around $9 to above $30 per share...
Test case of the constitutionality of New York's Feld-Crawford Fair Trade Act of 1935 was Doubleday, Doran & Co., Inc., publishers, v. Manhattan's R. H. Macy & Co. (TIME, Nov. 18, 1935). No facts were disputed. Macy's admitted selling books at prices lower than those agreed upon between Doubleday, Doran and its retail affiliate. New York Supreme Court Justice Frederick P. Close decided Macy's could sell books at whatever price it chose, declared the Feld-Crawford Act unconstitutional (TIME, Nov. 25, 1935). Opined he: "The act attempts to give to private persons unlimited...
...Dearborn Distributing Co., the U. S. Supreme Court unanimously held that those States' anti-price-cutting laws were not in conflict with the U. S. Constitution (TIME, Dec. 21). Since the Feld-Crawford Act was for all intents & purposes identical with these fair trade laws, New York's Court of Appeals could do nothing but gracefully perform a judicial flipflop. Last week...