Word: auguste
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Dates: during 1950-1959
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Russia's Khrushchev and Red China's Mao, meeting in Peking in early August, were accompanied by their defense ministers-a fact that led to a rush of speculation. Gist of the rumors: Communist China was again preparing to attack Formosa or the Nationalist-held offshore island chains of Quemoy and Matsu. Later events gave some substance to the speculation: Communist MIG-17s and Nationalist F-86s and F-845 began tangling more often above Formosa Strait; Communist gunners began to pound the islands, last week put down thousands of shells in two hours of the heaviest bombardment...
...Mortgage loans at savings and loan associations rose $1.1 billion in June, the highest total since August...
...speed. Items:¶ Industrial production for July stood at 133 on the Federal Reserve's index, up three points since June and seven points higher than the recession low of 126 in April (see chart). At this rate, say economists, the pre-recession level of 145 in August 1957 may well be topped before year...
...Personal income rose to an annual rate of $354.5 billion in July, highest in history. The new level was $2.5 billion higher than in June and $2.4 billion higher than the previous record of $352.1 billion, also set in August 1957. Main reasons for the jump: a $1 billion rise in private-industry payrolls, plus another $1 billion increase in the federal payroll. ¶ Housing starts rose to an annual rate of almost 1,160,000 in July, 14% higher than the rate in July 1957 and the highest in 2½ years. FHA, VA and conventionally financed housing...
...Though Hamburg-Atlantic is moving fast on Atlantic sealanes, the wonder boy of German shipping is a handsome, lean, baking-powder scion named Rudolf August Oetker, who started from scratch and now surpasses both Hamburg-American and its fellow giant, North German Lloyd. Taking advantage of the government tax law (which was repealed 3^ years ago), Oetker invested his big baking-powder profits in shipping. Oetker today controls the largest single German merchant fleet in terms of tonnage, consisting of 40 modern freighters and tankers totaling 375,000 tons...