Word: boomingly
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Dates: during 1950-1959
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...heavy is total U.S. investment in Canada ($4.2 billion in the past five years) that it now equals almost half the gross national product. Canadians rejoice in the boom that the money brings-but they are increasingly uneasy about the implications. CAN WE SURVIVE u.s. INVESTMENT? asked a recent headline in Toronto's Financial Post, Canada's most influential business newspaper...
...question. Such fears, he told the Toronto Board of Trade, came as a "shock and a surprise" to Americans, who have been "perhaps somewhat naively proud" of the part U.S. capital has played in the economic development of friendly nations -and particularly in Canada's postwar boom. Since 1953, he said, for every dollar withdrawn from Canada as an investment profit, U.S. firms have reinvested more than $2 in Canada's long-term growth. They have paid $450 million yearly in Canadian income taxes, built up some of Canada's most profitable exports, e.g., nearly $1 billion...
...inventories or plants. Industries have piled inventories so high (adding at an annual rate of $10.4 billion in the second quarter alone) that economists feel they will now begin to channel their funds into new plants to meet consumers' rising demands. That does not mean that the inventory boom has spent itself; inventories have moved up close to the peak level of January 1957, but sales have moved up even faster...
...Manhattan's Radio City Music Hall, riding the crest of the boom, reported its own record, a two-week nonholiday gross of $404,056, for Alfred Hitchcock's North by Northwest, well over the total of runner-up High Society. Additional Music Hall intelligence: Northwest's star, Gary Grant, is the Music Hall's male favorite; he has appeared there in 23 pictures that ran for a total of 75 weeks. Closest male competitor: Fred Astaire, with 14 pictures, 48 weeks...
...Treasury's troubles are a key part -but only a part-of the squeeze on money. Because of the new boom, there has been a large rise in business loans, which have soared from a recession low of $52 billion in May 1958 to $58 billion last month. Heavy Government financing ($13 billion deficit last year), a record volume of state and local fund-raising in the first half of 1959, and a jump in consumer credit have added to the competition for funds. Following the surge, interest rates on bank business loans in 19 major cities went from...