Word: chipped
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Dates: during 1950-1959
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Burly Mike Souchak birdied the tough 16th hole to move within a stroke of the lead, but an overstroked approach gave him a bogey on the 18th and he was out of the running. Rosburg, who grips a club like a baseball bat, sank a chip shot and 30-ft. putt for successive birdies on the 11th and 12th. But on the final hole he needed to sink a 40-ft. putt to tie. It stopped a foot short, and Bill Casper was the U.S. Open champion...
...salary of $12,000 yearly* was made possible last week by Philadelphia's Donner Foundation, for one teacher at each of six blue-chip U.S. private schools: Andover, Exeter, Groton, Hill, Mount Hermon, St. Paul's. Reason: the schools are "among those setting teaching standards." By giving them endowments of $300,000 apiece, the Donner Foundation has a sound scheme: releasing money to raise all teachers' salaries within the lucky six schools, and creating a lever to boost pay across the country...
...funds just kept pace with the averages in the seven-year bull market. But Broker Arthur Weisenberger, the Boswell of the industry, whose brokerage house puts out the definitive yearbook of the funds, argues that an investor could pick a slow mover even in the stocks in the blue-chip Dow-Jones averages. Only 14 of the 30 stocks have done as well as the 229% gain in the averages in the last ten years...
...most fervent opponents of splits are old-line managements who feel that the high price of a stock is synonymous with quality. Splitting a blue chip selling at $100 so that it sells at $20 would wash out its blueness. Superior Oil of California takes a defiant pride in the fact that its stock sells at $1,850 a share...
...where it can compete with mutual funds. Many funds price their shares in this range (e.g., Lazard Fund, One William Street), keep splitting so that prices remain low. Says Harold Clayton of Hemphill, Noyes & Co.: "A. T. & T., at 20 or 10 or 5, is a blue chip regardless of its selling price...