Word: stockmarket
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...night last week, Columnist Walter Winchell, who writes for Hearst and sells lotions on the side, panted over the radio: "Insiders in New York expect a very sharp decline in the stockmarket before the holidays, suckers." Next day impressionable "suckers" rushed to dump their holdings. Result: the worst market break in two years. In the unreasoning selling, nearly every stock on the Big Board slumped. By day's end the Dow-Jones industrial averages had dropped 3.4 points...
...stockmarket is advancing all along. Values are increasing and there is no cause for pessimism in the future. To quote the immortal James A. Garfield: 'America is sound. God reigns and the flag flies over the Capitol in Washington...
Rudy Vallee, the Vagabond Lover, was singing the Stein Song With Yale-boy gusto. America's other favorite band, Paul Whiteman's, played a promising new song called With a Song in My Heart. Bing Crosby was touring in vaudeville. That week the stockmarket crashed, and Manhattan's Hotel Roosevelt introduced a Chicago band to its customers. The band, fancily titled Guy Lombardo and his Royal Canadians, played Stardust and My Blue Heaven. They still...
...cheered him last week. Tories were relieved. Bankers beamed. Even Lord Catto, certain that his bank would soon be taken over by the new Government, was not shocked. Britain's new budget was a good, middle-of-the-road job. Next day, prices rose on London's stockmarket...
Actually there were no signs last week of a stockmarket boom. Investors were still able to find stocks in Wall Street that yield 4 to 6% in dividends. Standard Oil Co. (New Jersey) sold at $63 a share compared to a 1939 top of $53.50, although Chairman Ralph W. Gallagher told stockholders that profits for the first six months of 1945 might run higher than the $71 million ($2.60 a share) earned in the same period last year.' And General Electric Co.'s President Charles Edward Wilson has repeatedly said that G.E.'s postwar annual gross sales...