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Rushing to Cut Back. The drought was particularly painful because in the last two years many firms had invested heavily in new electronic equipment and personnel to service a flood of bull-market orders. Now, in an effort to cut swollen overhead, some were driven to drastic economies. In Glore, Forgan & Co.'s Chicago branch, all employees last month took a salary cut of from 5% to 10%. In San Francisco, the monthly take-home pay of some customers' men had slipped to a bare $150. Even in Manhattan, where the big brokerage houses can count...

Author: /time Magazine | Title: Wall Street: The Lonesome Brokers | 9/28/1962 | See Source »

Throughout the Appalachian region where corners of Pennsylvania, West Virginia, Maryland and Virginia tangle together, hundreds of farmers agree with disgruntled Dairyman Beck in blaming cloud seeding for the worst drought in a generation. The farmers are furious at the area's fruitgrowers, who are sponsoring the seeding-and with increasing frequency, the threat is heard that somebody's going to get hurt...

Author: /time Magazine | Title: Agriculture: Battle of the Clouds | 8/31/1962 | See Source »

...weathermakers hope-eventually reach the clouds. The notion is that silver iodide in either form prevents hailstones from forming. As for the farmers' conviction that the seeding also prevents rain, the weathermaking team argues that this year's dry spell is simply part of the widespread drought afflicting much of the Northeastern...

Author: /time Magazine | Title: Agriculture: Battle of the Clouds | 8/31/1962 | See Source »

...Rain. Such protestations of innocence have not diluted the drought-stricken farmers' bitterness. In several towns, farmers have held protest meetings against seeding. In Falling Waters, W. Va.. Farmer Bruce Kitchen and two neighbors are collecting signatures on a petition in hopes of getting an anti-seeding bill introduced in the state legislature. Farmers have threatened to shoot at cloud-seeding planes. In Mercersburg, they were blamed for cutting down 138 plum trees belonging to Orchardist Henry Heisey; he decided to withdraw from the Weather Modification Association...

Author: /time Magazine | Title: Agriculture: Battle of the Clouds | 8/31/1962 | See Source »

Teodoro Moscoso, the Puerto Rican who bosses President Kennedy's Alliance for Progress, flew south to Brazil three weeks ago in search of a little progress. By the time he reached Natal, capital of the drought-plagued Brazilian state of Rio Grande do Norte, Moscoso had made up his mind on one thing: Brazil needed help in a hurry and its national government was so bogged down in political crisis that state and regional agencies were his best bet. Last week, after a conference with Rio Grande do Norte Governor Aluizio Alves, Moscoso signed an agreement promising an immediate...

Author: /time Magazine | Title: Brazil: Help in a Hurry | 8/31/1962 | See Source »

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