Word: sentimentality
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People who believe that pessimism has been the chief drag against business felt better last week. The mercury in the sensitive thermometer of sentiment went shooting up. Warmest of rays was a sensational rally in stock prices. What had started three weeks prior as a slow, creeping advance suddenly became a running, leaping market. In percentages, even the famed Moratorium Market with its 28.9% gain in 25 days was outdistanced. Railroad shares jumped a whopping 58%, utilities 38%, industrials 34%. The market as a whole fattened itself 37% in 22 days, putting on millions of dollars of weight, much goodwill...
Much of the improvement in sentiment was caused by a turnabout in important commodities. The Annalist index of prices for July rose to 92.2 from 88.6 in June, the sharpest gain for one month since this index was first compiled in 1925. All the ground lost since early February was made up. The gain was apparently touched off by hogs, although the rise in petroleum last April was an indication of what might happen. While hogs had re-actecLfrom their highs of late June (TIME, July 11), last week they made up much of the loss. After hogs, cattle began...
...Sentiment is after all the chief tie which still unites the nations of the British Commonwealth. Soon after he stepped upon Canadian soil Lord Bessborough struck the note that must and will be sounded again & again during the Imperial Economic Conference. "I feel," said His Excellency, "that our interests are being more closely linked day by day." This sentiment may surmount Irish hatred, Indian passive resistance and Dutch-begotten South African suspicion of the Mother Country...
...devoid of sentiment except in one matter-that of the Bohemian Union Bank," said Director Vavrecka last week. "It was the Olmutz branch of that bank which 30 years ago extended him the loan that proved to be the turning point of his career. Till the day of his death Mr. Bat'a insisted that all the business of his huge concern should go through the little Olmutz branch bank...
Strategy. In the Prohibition Party's convention the U. S. Drys, Consolidated, failed to find a practical answer to their political problem. This week in Washington the National Conference of Organizations Supporting the 18th Amendment was to hold a joint meeting to map their campaign. The predominant Dry sentiment is against any third party action on the ground that it could not achieve positive results to keep the 18th Amendment intact. Dry leaders plan to work within the two major parties, trying to elect to Congress members pledged against Resubmission or Repeal, thereby blocking any change at the start...