Word: marketeers
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Dates: during 1930-1930
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...York Stock Exchange. On the chief U. S. market, January resulted in sales of only 62,308,290 shares against 110,803,940 in booming January of 1929. In February the breach was narrowed, by the end of March sales for the first quarter, bolstered by the reappearance of 5,000,000 share days, were 227,579,470 against 294,410,000 last year. But in March 1930 there were 1,300 issues listed, a gain of 100 over March...
During this time the prognosticated "creeping bear market" turned out to be, at least for the period, a "creeping bull market." On Jan. 2 the Dow Jones averages stood at (industrials) 244.20, (rails) 144.68 and (utilities) 286.38. By March 31 they had climbed to (industrials) 286.10, (rails) 157.28 and (utilities) 106.13. Notable was the fact that the first stocks to start recovering included most of the utilities (which had suffered severely in the crash). Union Carbide, American Tel. & Tel., Steel, American Can, General Electric continued as leaders. Stocks which started the year off poorly remained soft. Selling of Montgomery Ward...
Bonds. With lower interest rates, much money has drifted to the bond market causing great activity in that section. From 93.85 on Jan. 2, the bond average has risen to 95.41. Volume for the quarter, on the Stock Exchange, was $761,247,000, more than last year's $642,178,300, but less than 1928's $851,156,850 and far below 1927's $976,352,900. Especially active was the foreign bond division...
Chicago. Modeled on the New York Stock Exchange, the Chicago Stock Exchange is what brokers term "a good market." Chief boast at present among Chicago houses is that volume on their Exchange is unique in its performance of running ahead of 1929. For the first quarter, sales came to 19,100,700 shares against 17,046,000 last year. New listings have played some part in this, Marshall Field and Greyhound Bus Lines, both recently added, being very active...
Seats on the Chicago market sold as high as $50,000 in September, dropped to $24,000 in November, are back to $32,000 now. A bull on Chicago is Robert Arthur Wood, president of the Exchange. His two sons are 17 and 15 years old, yet he confidently predicts : "By the time my sons are old enough to be Exchange members (21 years), seats will be selling for a quarter of a million each. Such a rise would be less than that which has already occurred." President Wood is 43, is the only man to be a three-time...