Word: curbs
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Dates: during 1940-1949
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...Eaton and his Otis & Co. Kaiser testified that on the day before the new issue was to be floated (Feb. 3), Otis & Co. told him that K-F's stock should be "stabilized." Kaiser did not know what that meant. The underwriters, he said, explained: to keep the Curb price of the old stock steady, K-F ought to peg it by buying at a fixed price...
After 16 days of tumult and picketing, striking clerks, pages and elevator operators returned to their jobs on the New York Curb Exchange. The members of Local 205, United Financial Employes, A.F.L. had won little: the Curb agreed to change its pre-strike offer of a temporary 10% cost-of-living bonus to a straight 10% wage raise, but it did not grant demands for a union shop and it insisted on a two-year contract...
...union shop, a $9-a-week raise for employees making less than $40, and $15 for those making more. The exchanges refused the union shop, but offered pay boosts of $3 to $5 from the Stock Exchange and a one-year 10% cost-of-living bonus from the Curb...
With the drop in trading, the exchanges argued that that was all they could afford. To pay even the bonus, said Curb President Francis Adams Truslow, he would probably have to dig into the Curb's cash reserve. Keefe threatened to strike, shrewdly waited till the market was on its way up-and brokers had their hands full with heavy trading-to call his members out. But even with the lusty help of the seamen, he fell far short of crippling the citadel of speculation...
...employees walked out. Their places were taken by brokers and exchange members. Robert A. Magowan and Norman Smith, partners in Merrill Lynch, Pierce, Fenner & Beane, helped run messages on the floor of the Stock Exchange. Vice President John Haskell headed a detail that cleaned up the exchange at night. Curb President Truslow and Chairman Edward C. Werle padded around as night watchmen. In a, day or so, the exchanges were operating almost normally, though the makeshift staffs sweated to keep up with the heavy trading...