Word: centrals
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Dates: during 1950-1959
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Three Doughnuts. Britain's ZETA (Zero-Energy Thermonuclear Assembly), which was shown last week by Sir John Cockcroft at Harwell atomic laboratory, looks like three 10-ft. doughnuts laced together like links of a chain. The central horizontal torus (scientific word for a doughnut shape) is a ring-shaped aluminum vacuum chamber with a 39-in. bore. The two vertical doughnuts linked into it are the iron cores of a transformer. When a small amount of deuterium gas is fed into the evacuated torus and a heavy electric current is shot through the transformer, an even heavier current (this...
...wooden shapes. They are made of orange crates, piano ornaments, driftwood, barrel tops and shipwreck planks, glued, twisted, nailed or pushed together. This is The Moon Garden + One, one of the most unusual exhibitions of sculpture in many a moon, on view this week at Manhattan's Grand Central Moderns Gallery...
...partly through open market purchases of Treasury securities. But so far, it has failed to use its strongest economic medicine: lowering the reserves all member banks must maintain to cover deposits. Currently, the FRB requires banks to keep reserves at an average ranging from 20% of loans for big central city banks to 12% for small country banks, well above the legal minimums. Even a 1% reduction in reserve requirements would make possible nearly $6 billion in new loans...
Robert Ralph Young was a bantamweight scrapper (135 Ibs.) with heavyweight ideas, who came out of obscurity as a Wall Street speculator to become the most powerful and most debated railroad tycoon of his day. As board chairman of the New York Central, the nation's second biggest railroad, and an important voice in several other roads, Bob Young had collected all the prizes of a champion battler: wealth, power, glittering friends (the Duke and Duchess of Windsor et al.), palatial homes in Palm Beach and Newport...
...their control of the railroads, set himself up as the champion of the people in a crusade to revitalize U.S. railroads. And all the while, he strengthened and expanded Allegheny's holdings, started his biggest battle of all: an attempt to win control of the mighty New York Central...