Word: premiums
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Dates: during 1940-1949
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Toughness at Premium...
Commercial Credit Co., C.I.T.'s No. 1 rival, was also expansion-bent last week, bought a 95% stock interest in up-&-coming Pennsylvania Casualty Co. which took in $5,000,000 net premium income last year, will do better this year...
When OPA and Metals Reserve Co. offered a 5? premium over and above the 12? ceiling for increased copper production last winter they deliberately set the base quota on which no premium will be paid so high that they not only froze out the big three (Anaconda, Kennecott and Phelps Dodge, which produce 85% of U.S. copper) but also froze out all but one of the other 15 companies which with the big three produce 98½% of U.S. total...
Every cent of premium money has been paid to microscopic concerns, while the important producers have been expected to take an actual loss on as much as 30% of their production, on the theory that they could make up this loss out of profit on their low-cost mines...
...trading rule, decided to permit a greatly increased number of stocks to be traded in units of 10 shares instead of 100. Effective Sept. 1 on 24 high-priced, inactive issues still to be picked, this change means that 1) millions of small investors will save the odd-lot premium (usually ⅛ point per share) formerly paid to odd-lot brokers; 2) small purchases or sales can be made in the regular market without waiting for a 100-share transaction. If the experiment succeeds it will be extended to other issues...