Word: bulled
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Dates: during 1950-1959
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Businessmen, consumers and the Government are all formulating new rules, and the recession was the test of how well they worked. The new economy (see BUSINESS IN 1958) is as different from the old as the soaring bull is from the bawling calf...
...five-man team rolled back a hangar-like shelter, elevated the bird, force-fed it with liquid oxygen, sent it soaring in 19 min. after the launch command was given (ultimate goal: 15 min.). The shot traveled the predetermined 1,450 miles over the Pacific, was rated a nuclear bull's eye by hitting within five miles of its target. The Vandenberg shot pointed up the fact that both Thor and military launching crews are well on their way to full operational status and readiness to fire within minutes after the word is passed...
...just missed the moon. But Wall Street's Bull made it-and over-with ease...
Investors' Market. Better than anything else, Wall Street's high-flying Bull symbolized the new economic power and stability of the U.S. Within twelve months the Dow-Jones industrials went up 137.48 points from 435.69 to a historic high of 573.17 in the closing weeks of 1958; utilities jumped 20.42 points; rails soared 58.72 points. There were still skeptics who had seen such high-flying stocks and heard such talk of the new prosperity before-in 1929. But in 1929 the market was founded on fantasy, frenzy -and credit. In 1958 the Bull's flight...
...wonder the Bull could flick his tail at recession. The 1958 market kept climbing, not a bit disturbed by threats of war in Lebanon and Quemoy, and bad corporate news that showed a 30.5% drop in six-month earnings. The new investors were looking at other values. As steel dropped to 47.1% of capacity in April, Bethlehem Steel, the No. 2 producer, failed by 8? to make its 60? first-quarter dividend. But Bethlehem confidently paid the dividend, and the stock climbed 5⅛ points...