Word: fasts
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Dates: during 1950-1959
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NOVEMBER: BERLIN. When the Kremlin's Khrushchev put out his provocative plan to turn prosperous, private-enterprise West Berlin into a "free city" demilitarized and disengaged from the cold war, the NATO governments proclaimed their intent to hold fast at Berlin. West Berliners themselves rejected Khrushchev's "free-city" plan by voting 98.1% to 1.9% against the Communist candidates in city elections. Score at halftime: West leading in defense of a key position deep in Communism's territory...
...many new capitalists that the number of stockholders passed the 10 million mark. Merrill Lynch alone is adding new accounts at the rate of 950 a week. Mutual funds are growing almost as fast. In 1940 there were only 68 mutual funds with $448 million in assets; today 149 funds hold $12.75 billion in assets, the great bulk of it stocks. Another $12 billion in stocks is held by other institutional buyers such as insurance companies and pension funds. Even such stiff-collared investment bankers as Lehman Bros. and Lazard Frères went into the fund business, unable...
...year's end some Wall Street professionals worried that the Bull had overreached himself, that the market had gone too high too fast. A few years ago, a stock that was selling for 15 times its earnings was considered expensive. At year's end the price-earnings ratio for industrials on Moody's index stood at 21, and for many stocks it was much higher, e.g., IBM is selling at 47 times earnings. Viewed at current earnings, the market may indeed be too high, reflecting a hedge against more inflation as well as a hope of sharing...
...Motors President George Romney, who had staked the fate of his company on the small Rambler and won. As sales soared, he turned American Motors' $11.8 million loss in 1957 into a $26 million 1958 profit, and at year's end sales and profits were still climbing fast...
Johns Hopkins File 7 (ABC, 11:30 a.m.-12). Nothing like a new look at the earth after Christmas, and this one is a fast summing up of what 10,000 scientists from 66 nations have learned during the International Geophysical Year...