Word: stocking
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Dates: during 1940-1940
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Last week two New York Stock Exchange seats were sold by disgusted broker-owners for $33,000 each, lowest price since 1899. Even in 1933, Wall Streeters paid up to $250,000 for seats. But by last week, the 26th of U. S. industry's post-Flanders upward trend, it looked as though Wall Street was one place in the U. S. where the defense program was definitely depressing...
...York Stock Exchange is hunting a buyer for its oldfashioned, 20-story building at No. 20 Broad Street. It paid $5,000,000 for the building in 1928, will take any reasonable offer, expects none...
...silence Wall Street suffered when the rival Chicago Stock Exchange added one hour to its trading period, thus got a bigger share of the nation's stock trading. New York has pondered adding an hour to trading, rejected it because many afternoon papers might drop their financial pages if closing prices came any later...
...rest of the evening Jesse Lauriston Livermore, most fabulous living U. S. stock trader, sat brooding at his table while his wife danced with friends. It was just three years short of half a century since he had made his first play in the market-a $3.12 profit on Burlington Railroad common. He was 15 then, a board boy in Boston's Paine, Webber & Co. They told him to stay out of the bucket shops or quit his job. He quit. A towheaded greenhorn from West Acton, Mass., son of a poor Yankee farmer, he began beating the bucket...
After the war, Trader Livermore was hired to push Piggly Wiggly stock. He pushed it 52 points in a single day and cornered the market; the Stock Exchange had to set aside its rules and allow shorts five days to cover. In the 1925 wheat market ending with the Black Friday crash he bought grain in 5,000,000-bushel lots while the market was rising, turned bear at the top and sold 50,000,000 bushels short for an approximate profit of $10,000,000. Quietly sensing the end of a falling market in 1927, he bought Mexican Petroleum...