Word: wall
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...Wall Street prides itself upon its practicality, and its freedom from academic theory. Recently, however, it has been engaged in a curiously theoretical dispute. An innocent reader of the Wall Street Journal sent the editor a query as to how he could invest $100,000 to best advantage, 20% in bonds and 80% in common stocks. The Wall Street Journal published it, thereby casting a golden apple of discord throughout the financial community...
Back of the dispute about the inquirer's $100,000, as a matter of fact, lie several serious questions of economic theory. Some months ago, a Wall Street iconoclast, Edgar L. Smith, wrote a book, Common Stocks as Long Term Investments, which proved that shares were better long pull investments than bonds. This caused no small ruffling in the Wall Street dovecote, especially among its bond houses, but Mr. Smith's figures were persuasive. Now, with the public seriously preferring shares to bonds, some Wall Street bond dealers feel that the pendulum is swinging...
...Thomas W. Lamont was well up in the financial profession. Two years later, he became a partner of J. P. Morgan. But the gulf that yawns today between Wall Street and Vesey Street, where the now pinko Nation is published, was narrower in those days. The Nation was still a "little American," a Mugwump, a champion of "intellectual minorities" rather than an assailant of "the predatory interests." Thomas W. Lamont, banker, and Hammond Lamont, editor, were not the poles apart that "Wall Street" and The Nation have since become...
...There is an identity of interest between railroad workers and railroad owners, but hitherto there has been no way of expressing that identity. When there is trouble the owners have been inaccessible ' to us. They were to be found in Wall Street, no matter where the road in question was located. So we decided to buy into 'Wall Street.' Now we can sit at the same table with these men and talk things over...
...leading factors in the security underwriting business of New York City. What proportion of earnings comes from the bank proper, and what proportion from the subsidiary, is known only to Mr. Baker. And, on this subject at least, the veteran banker still deserves his cognomen: "The Sphinx of Wall...