Word: chipping
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Dates: during 1940-1949
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Even such a blue chip as U.S. Steel went begging at $73½, which was less than six times what it earned in 1947. Goodyear Tire & Rubber Co. brought only 3½ times its earnings. Other blue chip markdowns...
Harvard may have no football coach, but a pilot lack has not kept the Crimson line-up from doing a little off-season scrimmaging. Chip Gannon, 180-pound wingback, muscled his way onto the floor of the Hotel Somerset's Balinese Room Thursday night and into the arms of Betty Anne Grove, 100-pound chanteuse...
...high as Trader got, but chimpanzees can master a subtler money economy. At Yale's Laboratories of Primate Biology, Dr. John Wolfe confronted six young and impressionable chimpanzees with a "chimp-o-mat," a slot machine which passed out a grape when fed a white poker chip. The chimps learned quickly how to operate the contraption. They also learned that poker chips were things of value, to be cherished and scuffled...
Then Dr. Wolfe showed his chimps the seamy side of money: work. He put in their quarters a "work-machine" with a heavy handle. When a chimp hoisted the handle, he got a poker chip (convertible into one grape). Some of the chimps went into a frenzy of work and accumulation, heaping up capital and guarding it savagely. One earned 185 power-chip coins in a single ten-minute session...
When the chimps were thoroughly accustomed to working for money, Dr. Wolfe made the currency more complicated. Blue chips dropped into the chimp-o-mat yielded two grapes instead of one. A red chip was worth a drink of water. The chimps soon mastered this system...