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...than the realization. When the production cuts finally started, the nation's mood gradually turned from nail-biting to cool appraisal. The quick shift in sentiment was clear on Wall Street, which for a change accurately reflected business opinion through 1957. In January and February, when the first gloom-sayers gave tongue, stocks tumbled 44 points to 454.82 on the Dow-Jones industrial average. Later, when it became apparent that the initial pessimism was overdone, the market soared to within only a quarter of a point of the alltime 521.05 high reached in 1956. Then in October, with...

Author: /time Magazine | Title: Business: Business, Dec. 30, 1957 | 12/30/1957 | See Source »

...rainy afternoon skies hovered in leaden gloom above the modernistic A.F.L.-C.I.O. headquarters building on Washington's 16th Street. James Riddle Hoffa, president-elect of the International Brotherhood of Teamsters, scissored briskly up to the front entrance. A photographer asked him for just "one cheerful smile." Snapped Jimmy Hoffa cheerlessly: "Don't worry, kid. There'll be lots of them. Nothing has happened...

Author: /time Magazine | Title: LABOR: The Boot for Jimmy | 11/4/1957 | See Source »

...matter of fact, it's good." The facts showed that business, moving at historically high levels, was indeed far better (see below) than business sentiment. Yet Wall Street, which likes to talk of the investor's lack of knowledge, could blame itself for much of the gloom. From brokerage offices have poured forth a flood of market letters, rumors and reports that painted the current economic picture in unwarrantedly pessimistic colors...

Author: /time Magazine | Title: WALL STREET: Historic Week | 11/4/1957 | See Source »

...that they are in the United States, most of them want to stay. They see only gloom in Hungary's future, and feel that to return there unless it is free is foolish. I don't believe Hungary will be liberated in the near future," says one; "and my decision not to go back springs from an appreciation of the American way of life. Pretty soon I will grow roots here, and I will not want to go back...

Author: By Richard N. Levy, | Title: Hungarian Students Recall Escape On 1st Anniversary of Revolution | 11/2/1957 | See Source »

...Murrow's look, the look of an intelligent man of good will who has encountered too little cause for joy and too much for gloom-if this look can be described as "hangdog," what a ragtag pack of mongrels inhabits our world today...

Author: /time Magazine | Title: Letters, Oct. 21, 1957 | 10/21/1957 | See Source »

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