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...Gulf of Mexico, Coast Guard crewmen saw-and tracked on radar-a U.F.O. that sped across the sky. A few of the sightings were accompanied by fascinating detail. From Reinhold Schmidt, a 48-year-old grain buyer who was driving through Nebraska, came the claim that he approached a cigar-shaped object that had landed. A ray of light froze him in his tracks, he said, and two spacemen dressed in American business suits searched him, then invited him aboard. They spoke High German, Schmidt insisted, and told him that "you'll know in the near future what this...

Author: /time Magazine | Title: AMERICANA: Dinner Time | 11/18/1957 | See Source »

...stock market, which started out strong, bouncing up 8.30 points to 441.04 on the Dow-Jones industrials average. But as the week progressed, a new report on railroad freight-car loadings showed a sharp drop to 703,688 cars for the week or 13.8% below 1956 levels; loadings of grain, ore and manufactured goods were all down. What worried Wall Streeters was the fact that freight-car loadings normally increase until the end of October, then fall off steadily until year's end. This year the decline started several weeks early, due largely, according to the Association of American...

Author: /time Magazine | Title: STATE OF BUSINESS: Mutes in the Trumpet | 11/11/1957 | See Source »

...FEED-GRAIN CROP will grow to new high this year, slice pork prices next summer. Because of favorable weather and 47-million-ton carryover from surplus in earlier years, output of feed corn, oats, barley and grain sorghums will rise 6% to 213 million tons...

Author: /time Magazine | Title: Time Clock, Nov. 11, 1957 | 11/11/1957 | See Source »

...Immigration slowed to a trickle; only employable men and women with needed skills found it easy to get visas. The Labor Department stepped up its campaign to encourage winter construction ; fatter pension checks would soon go out to the aged and war veterans; and government cash advances on stored grain would help tide many a prairie farmer through a cold winter. Even so, economists privately gloomed that unemployment this winter would almost surely exceed the postwar high of 401,000, might reach 600,000, or 10% of the labor force...

Author: /time Magazine | Title: CANADA: Economy Jitters | 11/4/1957 | See Source »

...virtually no industry. In the struggle to industrialize, Pakistan raised industrial output 285% between 1950 and 1955. But so much land was shifted out of wheat into such crops as cotton and jute for export (to get the foreign currency needed to industrialize) that Pakistan has to import grain for her rising population. Now with cotton prices down, throwing its foreign trade out of balance and forcing a cut in imports, prices in Pakistan have risen 20% in six months...

Author: /time Magazine | Title: The Capitalist Challenge: WORLDWIDE INFLATION | 10/28/1957 | See Source »

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