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...heavy selling to establish tax losses against gains made earlier, forced selling on margin accounts as prices declined beyond what traders could bear. Underlying all was the growing uncertainty about the course of the U.S. economy, and indeed the nation itself. Early announcements that the U.S. would not embark on a crash program to catch Soviet Russia's earth satellite had a depressing effect. Investors were increasingly worried about high interest rates that led economists to forecast a slight fourth-quarter decline in the rate (currently $37 billion annually) of expenditures for new plant and equipment, the first drop...

Author: /time Magazine | Title: STATE OF BUSINESS: Deflation on Wall Street | 10/21/1957 | See Source »

Controversy still rages in informed quarters as to whether six months training is necessary or desirable in a reserve program. As the time is too short for the enlistee to do much valuable work in the service after his basic training and far too short to embark on the technical training that an effective soldier in a modern army needs, many claim that the bulk of the six month program is "make-work." It is generally agreed that the Air National Guard has done an outstanding job by requiring requisite active-duty training which varies for the various career fields...

Author: NO WRITER ATTRIBUTED | Title: Write Your Congressman | 4/23/1957 | See Source »

...happy day for Harold Jesse Berney when he ran into Pauline Goebel in Washington, D.C. six years ago. Happy for Pauline, too. Berney told the fascinated Miss Goebel that he was a manufacturer of TV antennas, and was about to embark upon the production of a revolutionary device called the "Modulator." Wide-eyed, Pauline listened to Harold's story-and a real whopper it was. Harold had been in touch with officials of the planet Venus. Matter of fact, he had visited Venus in a flying saucer. And after two wonderful visits with his Venutian hosts...

Author: /time Magazine | Title: CRIME: Two Weeks on Venus | 4/15/1957 | See Source »

...varsity tennis team will embark upon its annual trip to the south, this weekend in order to pick up some valuable pre-season practice against some of the perenially strong southern squads. The team will play the University of North Carolina on April first and second, Duke the third and fourth, and Navy the sixth...

Author: NO WRITER ATTRIBUTED | Title: Varsity Tennis Team to Embark On Series of Southern Matches | 3/29/1957 | See Source »

...shocker that leaves Humbert a chastened European innocent is that Lolita seduces him. For she is an experienced hoyden who has already been ravished at a fashionable summer camp. In the second volume the sexual farce is more corrosive and the human comedy less exuberant. The couple embark on a kind of illicit grand tour of the 48 states; the settings-hotels, motels and tourist traps-have the infernal cast of a Hieronymus Bosch painting...

Author: /time Magazine | Title: Books: Pnin & Pan | 3/18/1957 | See Source »

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