Veal stock

“ They also made the whole market run into a wild bull speculation, stimulated by a rush of “shorts” to cover their contracts, and a sudden influx of fresh buyers from the outside public. Reckless buying by these made it easy for the bull leaders to run prices up sharply, especially as it was expected or feared by many that the example set by Union Pacific in dividend raising would, or at least might, be followed by certain other large companies, both railway and industrial, whether the increase was justified by actual net earnings, or only intended for stock-jobbing purposes. ”

“ From our own observations we can state that within the last twelve months, the increase of stock has been very considerable, the holders having acted more judiciously of late in withholding the breeding stock from the butcher, however tempting the price, whereas formerly they thought merely of the present, by killing ewes, &c., whenever the condition of the animal or great demand for meat gave present profit. ”

“ Woolens'll take another big drop on Monday and at least two hundred and fifty thousand shares'll be thrown on the market at perhaps an average price of eighteen—less rather than more. I want you quietly to organize a syndicate to buy what's offered. They must agree to sell it to me for, say, two points advance on what they pay for it. I'll put up—in your name—a million dollars in cash and forfeit it if I don't take the stock off their hands. As Woolens is worth easily double what it now stands at, they can't lose. ”

“ In this way they lose all except what they may have happened to purchase at a fair price in a mine of real merit.
Persons who purchase mining-stocks on a “margin” pay their broker, as a rule, one-half the market value of the stock so bought. The other half is advanced by the broker, the customer paying him interest on the amount at the rate of two per cent. per month. The broker also receives one per cent commission on all sales and purchases made for the customer. ”

“ Prices were high and still advancing, and profits large, particularly those of industrial corporations. At the same time a mammoth bull movement was running its course on the Stock Exchange, and the grain crop turned out larger than ever before in our history, while enormous issues of new securities were announced by both railway and industrial corporations. These new issues severely taxed the resources of the money market, already being too heavily drawn upon by the “big men” of the Street to promote their wild bull campaign in stocks, and spasms of stringency were frequent. ”

“ And they all can churn butter, too,” announced Norma.
“If we keep on adding members to our stock company the poor cow will be divided into minutest pieces to enable each stock owner to hold a share,” remarked Mrs. James laughingly.
“Well, the more shares we have to make of the cow the less each one will cost us,” said Natalie.
“And the less our dividends will be, too,” added Janet
“Whether we get dividends or not, we will have our milk, butter and cream, right at hand all the time. And if we want to sell the cow in the Fall we can get our money back again,” said Miss Mason. ”

“ A bull market, however terrific, always is tame beside a bear crash. In the few moments it took me to get to the floor, the battle had started. The greater part of the Exchange membership was in a dense mob wedged against the rail behind the Sugar-pole. I could not have got within yards of the centre of that crowd of men, fast becoming panic-stricken, if the fate of nations had depended on my errand. I had witnessed such a scene before. It represented a certain phase of Stock-Exchange-gambling procedure, where one man apparently has every other man on the floor against him. ”

“ The fish take a long time to cure, and the summer is often done before much of the fish can be sent to market. Then the merchant generally sells at two or three months' credit to the buyer, and it is that time before he can realize his money.
9971. Do you know whether the merchants in Unst are in the habit of dealing much in stock?-I don't know; there is generally a sale once a year for the cattle, and any one who wishes to go to the sale is at liberty to go. If any one wishes to dispose of his stock privately to any one else, he is quite at liberty to do so. ”

“ But the most elusive and intangible items of this marketable capital are, of course, those items which consist of capitalized good-will, since these are intangible goods from start to finish. It is upon this factor of good-will in capital that a change in presumptive earning-capacity falls most immediately, and this factor shows the widest and freest market fluctuations. The variations in the capitalized value of merchantable good-will are relatively wide and unstable, as is shown by the quotations of common stock. ”

“ Val, with the amateur's delusion that after the initial expense all is profit, rushed into the usual mistake of overstocking.
"Every fowl is an asset," she told herself, and bought fowls by the dozen, regardless of age, pedigree, or laying qualifications, until pulled up at the round turn by an article in the poultry journal on the importance of good breeding stock. Thereafter, she and Haidee decided to keep all the early purchases for "laying purposes only," and buy a special pen of thoroughbreds for breeding chickens. Earnestly they studied the advertisement columns of the poultry journal. ”

“ Investors, their equity leveraged with bank and broker loans, crowded into stocks of exciting "new technologies", such as the radio and mass electrification. The bull market - especially in issues of public utilities - was fueled by "mergers, new groupings, combinations and good earnings" and by corporate purchasing for "employee stock funds". ”

“ I said rather wearily, "just now, when I am in deep water with this railroad and all the rest, and the banks calling my loans, some fellows are selling their Meat Products stock. It will all go to my enemies—to Strauss and his crowd, and I shall find myself presently kicked out of the company. I suppose it's Mr. Dround's stock that's coming on the market. It's like him to sell when prices are going down." ”

“ Francis Delavan merely smiled, and Tom Halstead, looking covertly at him, admired the difference between his employer and Eben Moddridge.
A “bear” is one who is trying to lower the selling price of a stock. Often, in order to accomplish this, the “bear” “sells short.” That is, he offers to sell large blocks of the stock in question, at a lower figure than the market price. ”

“ In order to secure and maintain a supply of these six classes of stock it is necessary to provide a force of three kinds of artificers, namely: fowlers, hunters and fishermen, or else you may buy breeding stock from such men, and trust to the diligence of your servants to rear and fatten their offspring until they are ready for market. ”

“ When a new run is taken up, it is pretty sure, in the first instance, to be stocked with cattle. Cattle-raising requires no heavy outlay of capital, because, beyond horses for the men, yards to work the stock, and perhaps one or two paddocks to enclose young heifers and separate them from the general herd, no buildings have to be erected. Then the produce of a cattle station—the fat stock—can be cheaply driven to market. Travelling with stock through the bush costs no more than the wages of the men employed, and, if carefully driven, the bullocks do not deteriorate. ”

“ Every trade gets its turn to a certainty. We will say, during a period of prosperity, a general recovery of the sounder stocks to a level at which they yield on the money invested 41⁄2 per cent. per annum, takes two years from the time the advance had fairly set in. During that two years is the bull speculator’s opportunity. If he does not make money then, he never will. Now we come more to the minutiæ: “Any jackass can take a profit, but it requires a devilish clever fellow to cut a loss,” is a well-worn expression in the city of London, but there never was a truer one. ”

“ It is better business policy to underestimate the worth of your stock and undervalue it than to ask too much. There is no advertisement better than a well-pleased customer, and giving him full value for his money and a little more is cheapest in the long run. It builds trade for you.
Do not sell stock that you would hate to have the other fellow palm off on you. Do not, under any consideration, ship diseased stock. This is a crime worse than horse stealing. Practise the golden rule in your business dealings, because the rabbit industry has black eyes enough. ”

“ Warren had seen the bottom drop out of the bull trade and he would not relinquish the suspicion that any business dealing in four-footed stock was hazardous in the extreme and he insisted that the solution of all their financial problems rested upon owning land, not cows. ”

“ We will buy over the old ten-thousand-dollar company for one hundred and fifty thousand in stock of the new company. Dividing this pro rata, you and I, Clover, will each have nearly twenty-six hundred shares. Mr. Neil, in place of his present ten shares, will have six hundred, and we shall have left four thousand shares of treasury stock. These we will sell among your members. We will reduce your present insurance rate one fourth, and use the hundred thousand dollars we take in on stock sales to get new members to whom to sell more stock. In the meantime, we'll see money every day. ”

“ This method of capitalization, therefore, effects a somewhat thoroughgoing separation between the management and the ownership of the industrial equipment. Roughly speaking, under corporate organization the owners of the industrial material have no voice in its management, and where preferred stock is a large constituent of the capital this alienation of control on the parts of the owners may be, by so much, irrevocable. ”

“ Unless, therefore, it can be shown that the real operator has a very broad pecuniary back, an attempt to buy or sell large amounts of stock through brokers is difficult. It is sometimes necessary to have capital to throw away in feints, before the speculator commences his operations, just as a general may find it expedient to throw away a quantity of ammunition, and even the lives of some of his soldiers, to draw off attention from the real attack. ”

“ In this elevation he meets his broker, who throws more fireworks into the mine, and blows him up to so fierce an inflammation, that he employs him instantly to take guineas to accept stock of any kind, and almost at any price; for the news being now public, the artist made their price upon him. In a word, having accepted them for fifty thousand pounds more than he is able to pay, the jobber has got an estate, the broker two or three hundred guineas, and the esquire remains at leisure to sell his coach and horses, his fine seat and rich furniture, to make good the deficiency of his bear-skins ”

“ It is so whether the purchases or sales are by investors or speculators, for speculation on the Stock Exchange is not gambling. Whether stocks, or bonds, are bought, or sold, by investors or speculators is immaterial between the contracting brokers on the floor of the Exchange. They know no difference whatever. Delivery of the stocks or bonds is made by the one, and received by the other, in every case, and payments made accordingly, at the sale and purchase prices, investment and speculative transactions being treated exactly alike. ”

“ There is always a considerable amount of interest bearing securities outstanding, and the claims of these securities have to be satisfied before dividends can be paid on stock, or before profits accrue to industrial ventures which have issued the Securities. These fixed charges, together with others of a like kind, narrow the margin from which profits are derived and increase the handicap which a season of dull times brings to the business men in charge of industry. ”

“ If interested in such deal, it may pay to first investigate as to what age, weight, kind, when and how many they buy back and at what prices, and who pays transportation charges. A cheek-up may disclose that many laboratory animal brokers average to pay about one-half laboratory market price on hamsters, and that breeding stock brokers pay about one-half to two-thirds laboratory market price. Having mistaken ideas about selling back, one may easily overinvest in purchase of his foundation stock from some operators. ”

“ If the stock is very scarce, and the jobber finds it difficult to deliver to purchasers, he will be glad to carry over a bull account for nothing, and may be he will pay a consideration to postpone delivery for a fortnight. [12] On the other hand, if the stock is very plentiful when the settling day arrives, if the sellers have been numerous, and the deliveries are large, the jobber will prefer delivering the stock to the bull speculator to continuing it to the next account, because he wants money to pay those who have sent their stock to market. ”

“ All the Bulls in the zoological creation would have failed to elevate the drooping stocks and shares and first-preference bonds and debentures, which hung their feeble heads and declined day by day, the weaker of them threatening to fade away and diminish to a vanishing-point, as it seemed to some dejected holders who read the Stock-Exchange lists and the money article in the Times with a persistent hopefulness which struggled against the encroachments of despair. ”

“ Contango [11] means continuation charge; for instance: if a bull operator has £2,000 Brighton railway [20] stock open for the account, of which there are two in a month, one in the middle and one at the end, and the settlement which is to take place, say in the middle of the month, is approaching without the price having advanced as much as he supposed it would at the time when he bought, he wishes to carry over or keep the stock open for another fortnight. ”