Word: rising
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Dates: during 1940-1949
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Wall Street's young bull market kept right on growing. On three successive days last week, trading topped 2,000,000 shares, making it the most active week since the big rise of May 1948. The Dow-Jones industrial average rose 3.37 points to 198.05, the highest since August 1946. Most spectacular rise: Superior Oil Co. (California) which in three days jumped 69½ points to 227 on the news of a plan to split it into two gas & oil companies. Wall Streeters now expect the next test of the market at 200. If the bull gets over that...
...ever done." To get an explanation, O'Mahoney asked Ben Fairless to appear before a congressional committee right after New Year's. Fairless, who in the past has often had as little to say as Garbo, promptly said that he would "welcome the opportunity" to explain the rise in steel prices...
Could the price rise be justified by higher costs? Two freight-rate increases had boosted the cost of steel's raw materials; another boost in coal prices was in prospect. But scrap, which is a major cost in making steel, was selling at an average of only $27.25 a ton, compared with $43 a year ago. As for the new pension program-U.S. Steel officials could not, or would not, say what it would cost the company in the first year (guesses by outsiders ran as high as $80 million a year...
Coalmen everywhere were finding business harder & harder to hold on to. This was due to: 1) Lewis, whom coalmen call "the best oil salesman in the country"; 2) the greater efficiencies and cleanliness of oil and natural gas; 3) the rise in coal prices and drop in oil prices, which has put oil on a competitive footing with coal. On the East Coast alone switchovers from coal to oil have cut this year's coal sales at least 20% below...
...King's Men. The sensational rise & fall of a grass-roots demagogue (TIME...