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...many pressures have converged on stock prices that few brokers last week foresaw much chance of a quick rebound, though fewer still expected the slide to grow into a severe plunge. "The market is awash in a sea of doubt," said Vice President Robert T. Allen of the Manhattan firm of Shearson, Hammill. Along with the prospect of an economic slowdown because of the 10% income tax surcharge, there were worries over declining profits, falling interest rates (which help to suck investable funds back into bonds), and reduced business spending on expansion. With many big institutional traders sitting...

Author: /time Magazine | Title: Wall Street: Converging Pressures | 8/16/1968 | See Source »

...observers, disturbed by what they took to be ominous portents for Wolfgang's-and Bayreuth's-artistic future, waited anxiously for his new production this year of Die Meistersinger. The work's chauvinism and its basis in medieval history had traditionally called forth productions that were awash with romanticist naturalism-gingerbread houses, magical forests and peasant maids. Wieland Wagner twice tried to replace all this with fresh approaches. In 1956, he staged the work as a spare, poetically brooding vision, in 1963, as an authentic but highly mannered recreation of Shakespearean theater...

Author: /time Magazine | Title: Opera: Looking Forward Backward | 8/2/1968 | See Source »

...translated the 12th century Persian poem The Rubaiyyat of Omar Khayaam. He condensed, combined and reshuffled the stanzas, dropping what did not suit him and pumping in generous transfusions of his own sentimental, post-Darwin fatalism. The result is one of the enduring minor poems of the language-awash with fanciful exoticism, vivid and resonant. But scholars have been scandalized by the liberties that FitzGerald took with the original, and for a century have tried in vain to supplant his version with more literal renderings...

Author: /time Magazine | Title: Books: Stuffed Eagle | 5/31/1968 | See Source »

...Unlike the first days, the people of Ein el Hilweh now see scant hope of ever returning to their homes, but they continue to live in the spirit of cruel dispossession. The roads and fetid alleys are still either choked with dust or, during the winter rains, awash in light brown mud. A few shops provide essential services-shoe repair, clothing-and the U.N.'s daily ration (1,600 calories in winter) can be supplemented at ramshackle fruit and vegetable stands. Menfolk gather, as they always have, in coffeehouses, to talk and sip thick, dark coffee...

Author: /time Magazine | Title: The Middle East: Return Visit to Despair | 12/29/1967 | See Source »

...into the open, where air support and artillery, when it arrived, could plaster them. The Marines paid dearly for their courage, suffering 41 dead and 162 wounded; U.S. losses were 13 killed and 73 wounded. But at the end of the daylong battle, 235 Viet Cong bodies were awash in the paddy waters...

Author: /time Magazine | Title: World: Erupting Delta | 12/15/1967 | See Source »

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