Word: stocking
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Dates: during 1950-1950
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...Actually there are probably more, since capital gains, e.g., stock-market profits, which are not counted as income, are not taxable in England.In the U.S., according to the last (1948) available figures, more than 300,000 people earned more than $14,000 after taxes...
Merrill Lynch, Pierce, Fenner & Beane is often mockingly called "The Bureau of Missing Persons." The joke has some point. The world's biggest brokerage house has 89 partners. Its downtown Manhattan office is so big that back-row customers' men use binoculars to read the tiny stock-price figures on the automatic electric board. The overhead on this and 99 other offices across the U.S. is so big, laments Managing Partner Winthrop Hiram Smith, that "it costs us $70,000 a day just to open the doors." Last week, Merrill Lynch reported that not enough business came through...
...trouble was that Merrill Lynch* was set up to do a big chain-store brokerage business, and that, for half the year, the stock market had been only as busy as a corner grocery. What was wrong, said Directing Partner Charles Edward Merrill, was that "Americans spent more than $9 billion last year for new automobiles, and yet were willing to invest only $580 million of new money for industry by the purchase of common stocks . . . People . . . did not invest because they did not know enough about [stocks], or because they thought the risk was too great...
...long would the bullishness last? As the stock market started off this week with a slight drop, many an investor kept a sharp watch on the growing troubles on the union front (see NATIONAL AFFAIRS) and a sharp increase in seasonal unemployment that boosted the jobless to 4,480,000, highest since the war. Until the labor troubles were settled, Wall Streeters thought it likely that the bull market might take a breather...
...under the counter of one of his stores, too worn-out to go home. When his mother, the sole inspiration for his Spartan drive toward big money, died in 1889, he buried himself still more deeply in his work, spent his spare time shopping around for new products to stock. He settled...