Word: higher
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Dates: during 1950-1959
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...body all at once caught up with his mind. "It was wonderful," he says. "One day I was a scrawny little thing that everybody could beat up, and the next time I looked around I was the biggest boy in the class. I could run faster, jump higher, dive better than almost any body, and all the girls wanted to feel my muscles." His sense of relief was so terrific that it became a kind of constitutional euphoria, a lifelong fizz of high spirits...
...rails, the nation's No. 1 rail carrier, Pennsylvania Railroad, steamed in with its best total in three years, a 6% rise to $991 million, but income crept up only 1% to $41.5 million. Helped by higher freight rates, Erie Railroad sales rose 9% to $175 million, while profits were up only $200,000, to $8,100,000. Union Pacific's gross income of $514 million bettered 1955's by $5,000,000, but earnings were off $600,000 to $78.6 million...
...recover; it was swamped as corporation after corporation, cut off from long-term loans by tight money, floated bonds to pay for their enormous expansion. In 1956 a record 1,843 new bond issues worth $12.3 billion were floated. Since most of the new issues were forced to offer higher interest rates to attract investors, prices of older, less profitable bonds dropped. Thus the average price of all listed domestic bonds on the New York Stock Exchange tumbled from 97.37 in December 1955 to 92.42 at the end of November 1956, and their market value dropped sharply to more than...
...Government's tight-money policy also hit Government bonds themselves. Many banks sold off low-interest, long-term Treasury obligations to get more money to lend at higher rates. In addition, the Government has had a hard time selling its low-interest savings bonds at a time when other interest rates were climbing. In 1956 the Government sold $5 billion in E and H bonds, a big $600 million drop below estimated sales. What was worse, the public has flocked to cash in its savings bonds. In the first two weeks of 1957 the value of bonds cashed in actually...
...peak. Many bond dealers believe that the tight-money policy, by forcing marginal borrowers out of the market, is now increasing the supply of available investment capital. Others think that the present rally is seasonal, but that credit will ease later in the year; thus nudging bond prices higher as other interest rates slip. In any case, to customers who had been waiting for the best time to buy brokers were saying...