Word: smashly
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...went to 67% of normal; auto output stood at 58,000 units v. 85,000 last fortnight and 102,000 year ago. And the New York Times business index slid on down, having slumped more in the past three months than in the 13 months following the 1929 market smash With such figures in the headlines, mostly a week to two weeks behind hand and only a further decline in view, there was ample reason for renewed fall of stocks, and week Dow-Jones industrial averages set a new low of 113.6, then bounced back ten points in the customary...
...second quarter when Ray Daughters caught a forward pass and shook off two Yale tacklers, scored. In the next quarter Yale got moving, and the great Frank bounced off the Yale line to tie the score. But with seven minutes to play, Harvard's Francis Foley faked a smash at tackle and scuttled ten yards around end for a touchdown. Harvard's season was successful...
Last week, as it is likely to be for some time, major influence upon the New York stock market were the inspirational efforts of Washington. Three weeks ago, when the Federal Reserve Board reduced margin requirements, prices rose in the best weekly rally since the smash started. Then they fell back. By early last week the Dow-Jones industrial averages had set a new low of 123.9. Railroads at 31.7 and utilities at 21.3 were almost at their bottoms...
Among the major causes for the bear market which has existed since March were the smash that month of the British commodity boom and a simultaneous dishoarding of gold under rumors that the U. S. was about to raise the gold value of the dollar. Last week almost the exact reverse of this situation became evident. U. S. commodity prices were almost all at the year's cheapest and the Dow-Jones commodity index declined 3.26 to 52.60, a new low since 1935. Cotton was down to 7.70? per lb., wheat to 86? per bu., copper...
...September, Edward B. Smith & Co. and other investment houses underwrote an issue of 442,443 shares of Pure Oil Co. 5% preferred stock convertible into Pure Oil common at $22.22 per share. But the coincidence of the market smash with the slow period of gestation which the Securities & Exchange Commission requires before permitting new stock issues threw the conversion plan askew. When the offering was finally made, Pure Oil common had fallen to $17 per share. As a result stockholders who had first rights to the stock took only 8,040 shares. The underwriters then took over the balance, impounded...