Word: stocking
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Dates: during 1970-1970
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...aristocratic lover into a flat beige and gold of costume, complexion, hair-proud wigs. Against them all, Dandin's shaggy authenticity strikes out like a bear baited by spaniels. When at last Dandin finds the house empty at night and locks out his wife, the creaking stock situation leaps up with delight while Dandin exults...
...usual, the stock market got a lift from the rate reduction. Moving up on every trading day of the short Thanksgiving week, the Dow-Jones industrial average gained 20 points to close at 781, its highest in seven weeks. The bond market experienced one of the sharpest price rallies in decades. In two weeks, many investors have made paper profits of $45 to $50 on each $1,000 bond. Last week South Central Bell Telephone Co. brought out a $150 million issue of debentures yielding only 8.14% interest, the lowest on a long-term Bell System bond in more than...
...Wall Street, Fannie Mae is a volatile stock that has suddenly become enormously popular. Logically, a Government-sponsored enterprise ought to be about the last source of frenzied speculation. Yet in the three months since Fannie Mae common began trading on the New York Stock Exchange, more than four-fifths of its 8,600,000 shares have changed hands. Last week it was the most actively traded issue on the Big Board. Its price has gyrated sharply since the initial listing at $46.75 a share; it closed last week...
Buyers of Fannie Mae stock have been gambling that interest rates will continue to fall. Even a modest ½% to 1% drop in the rate that the corporation pays for its funds could cause profits to soar. Reason: Fannie Mae borrows short but lends long. By issuing three-year debentures last week, for example, the corporation borrowed $500 million at an interest rate of 5¾%, the lowest in more than two years. Meanwhile, Fannie Mae will be collecting income on a huge bundle of recently written mortgages-many of them paying 8½%- that run for 30 years. "Fannie...
...Fannie Mae's offices, which now sport bright red and yellow pile carpeting, original oil paintings and plush furniture. Gordon Nelson, the association's press agent, even wears a flashy tie pin engraved with a bull and a bear and the price of the company's stock when it moved onto the Big Board...