Word: cash
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Dates: during 1950-1959
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...chance to own gold bars holds an appeal for both ultracautious and speculative buyers. Investors willing to pay cash, forgo dividends and interest, and accept the hazard of a gradual decline in the buying power of their money, can get high safety and liquidity. Speculators can buy a 1-kilo bar for as little as $34 margin plus $63 a year on the unpaid balance, stand to turn a handsome profit if the price of gold should rise. In effect, they bet that the U.S. Treasury, which has been able to corner more than half of the free world...
...pear tree." Later, they launch into another holiday favorite: "Dashing through the snow in a 50-foot coupe." They stop to admire a cigarette-ad Santa Claus with a tattoo on each arm-one reading "Merry Christmas," the other "Less Tar"-and then jangle through Jingle Bells with a cash register clanking in the background...
When it comes to automation, U.S. department stores still slosh around in the Ice Age. This week the biggest of them all, Manhattan's Macy's, announced a deal with National Cash Register Co. for the first major automated system. Due to start whirring in 1961, the $1,000,000 system will speed Macy's customer-account billing 25-fold. By punching a few buttons on a keyboard, operators can register each of Macy's 40,000 daily charge sales on tape, which is later fed to a computer. It sorts the bills, tots them...
Millions for Research. The breakthrough at Macy's is the result of a major advance at venerable N.C.R., the world's No. 1 seller of cash registers and No. 2 maker of office equipment (after International Business Machines). N.C.R. is hustling to expand beyond mechanical to electronic machines. In this fiercely competitive field, N.C.R. started long after IBM, Remington Rand or Burroughs; its real push began only in 1952, when N.C.R. bought the small Computer Research Corp. of Hawthorne, Calif. (TIME, Oct. 6, 1952). Since then it has moved fast, boosted its research and development bill from...
Brains for Banks. While N.C.R. hopes to cash in with these and other new specialty products, Allyn feels that the big market is for small computers and automated office equipment for small as well as big companies. He is willing to let IBM and Remington Rand dominate the market for huge scientific computers while he guides N.C.R.'s research into the broader market for smaller business computers. "We're aiming for fields where we can sell more than one computer," says Allyn. "We would rather make the Chevrolet than the Rolls-Royce...