Word: billion
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Dates: during 1950-1959
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When the moon is not in the sky, the Navy's dish will be at the service of peacetime scientists. By bringing information from as much as 6 billion light years away, it may tell the size and age of the universe. It may tell whether the universe exploded from a center a few billion years ago, or whether it is still being created and continues indefinitely in all directions in both time and space...
...report that any schoolboy could plainly see: the biggest unexpected increase in spending came not in defense, or even in fighting the recession: it came in the scandalous, runaway farm subsidy payments that raised the agriculture budget for the current prosperous farm year to an outrageous $6.9 billion...
...bare back home because the buyers had ordered cautiously last June (TIME, June 30), and the late summer surge cleaned out stocks. Retailers believe the pickup will grow stronger in the fourth quarter. The National Retail Merchants Association polled 225 members with total yearly sales of more than $2.5 billion, found that 52% expect second-half sales to rise an average of 4% over the year-ago level, while 80% expect profits to equal or top last year's level...
...blue chips as Du Pont and U.S. Steel that Wall Streeters have started to complain about the "shortage" in these stocks. More and more institutions and pension funds are also going into the market, usually by buying blue chips. Last week trustees for the Bell System's $2.6 billion employees' fund announced that the fund would buy stocks for the first time, spend up to 10% of its total assets...
What has happened is that the supply of money pouring into blue chips has grown faster than the supply of stocks. While the total number of listed shares has increased from 1.8 billion to 4.9 billion since 1946, the increase is deceptive, has not really increased the floating supply of stock to that extent. Many of the new shares are the result of stock splits, and dividends go to those already holding the stock. Most investors who receive extra shares continue to hold them, thus keeping much of the added stock out of the market. Major mutual funds alone have...