Word: steeling
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...committee headed by the late Stuyvesant Fish reported in favor of reducing the number of hours. In 1921 Judge Gary said: " We expect to make the elimination of the twelve-hour day complete during the next year." But the recent adverse report of the Iron and Steel Institute, according to the protest of the indignant churches, "shatters public confidence...
After an analysis of the findings of the committee, the churches declare than an attempted justification is made on grounds of economic necessity, the shortage of labor and the fact that a shorter shift would force up the price of steel. The strongest argument of the churches is that economic laws "cannot demand an equal position with the laws of justice." The protest concludes: "A further report is due from the Iron and Steel Institute?a report of a very different tenor." How soon the "report of a different tenor" will be issued Is unknown. Meanwhile the cry goes...
...room in which the demonstration took place is 100 feet square by 60 feet high, walled with brick and lined with steel to safeguard the exterior world. Although assured that there was no danger, the handful of invited newspapermen signed liability releases before entering and stood trembling on a high steel platform while the gigantic bolts flashed under their noses. Three huge transforming towers 30 feet high wound with 100 miles of wire and grounded in tanks containing 40,000 gallons of oil, the whole inside a protecting cage of steel wire, were used to " step up " a current...
...legitimate brokerage firm acts as an agent for public customers in the purchase and sale of securities. It also obtains credit for such customers, thus enabling them to buy "on margin." If, for example, an investor buys through a brokerage house 100 shares of U. S. Steel stock at $100 per share, he can either pay the purchase price of $10,000, or he can deposit with the broker $2,000, say, as "margin" and let the broker obtain the remaining $8,000 for him. This the broker does by paying the seller the $10,000 due, and then borrowing...
...pure profit. In the second place, if the market declines, either the customer, discouraged by the decrease in his margin which this causes, orders the stocks sold, or else the bucketeer sells him out when his margin has become exhausted. If, for example, the customer buys 10 shares of Steel at 100 on a $500 margin, his margin or equity in the stock amounts to only 5 points in its price. If the price of Steel falls to 97, and he orders the stock sold, the bucketing broker, who has secretly sold it already at about 100, makes about...