Word: discount
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Dates: during 1920-1929
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...market away from its position as world's leader. "Home Rails," long considered a prime investment, have seen the cycle bring Depression, as have Industrials. British Consols, once the "world's safest security" have depreciated with high interest rates. Last week's lowering of the Bank of England's discount rate to 5% and the shipment of $21,000,000 gold from New York were bullish items on the London market but could not compensate for the collapse in the gigantic Royal Mail and doubts concerning Kylsant, "Lord of the Seven Seas...
...discount could perhaps be given for buying such coupons issued in booklet form, and the plan would also be advantageous to the H. A. A. in handling funds. To the conscientious student who, at the beginning of the season promises himself to play squash at least three times a week, such a system would be of great convenience, as well as an added bulwark against the temptation to break the pledge, that comes with December hours, theses, and too much Vagabonding...
...four boys in an orchestra who advance from a $100 a week job at a low dive to a $3000 position at the Little Aregon Cafe, all because of the energetic work of "Freddy" as played by Miss Compson. Then there is the usual mushy ending, but one can discount that in view of the rest of the picture...
...cent some 30 per cent above the legal minimum. Indeed, this unprecedented gold revenue may be said to have indirectly been behind the bull market, since the public knew there were far greater supplies of credit available in the country than they would ever need, and that the high discount rates which the Federal Reserve has maintained in effort to check speculation have largely been a "false front". Related to this situation is the relatively low level which call money has kept during the current crisis--a development most unusual in an uneasy market. Connected with these two characteristics...
...consideration of these factors seems to give a certain weight to the theory that the discount rate of the central bank of a country is not the ultimate determinant in a country's credit position, particularly when public opinion refuses to take cognizance of the message of the rate, and when--as has been the case in the late years in the United States--the credit policy is controlled by other factors than the gold reserve. In view of these facts it does not seem too much to say that stereotyped financial theory and business practice are rapidly being...