Word: indexed
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Dates: during 1950-1959
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...that lies deep in the traditional pioneering instincts of the nation. No other country has come close to the U.S. in creating the mechanized giants of road building. "Road building," said one contractor, "is really the American art." Said the late Bernard DeVoto: "A highway is a true index of our culture. The machinery that builds it embodies developments in technology, invention, industrial progress, education, finance and so many other things that our whole cultural heritage has gone into producing...
...stock market and seek the security of bonds and their guaranteed return. This made money easier to borrow, helped check the rise in interest rates. But the return of confidence and the recovery in the stock market checked the shift; even though the Dow-Jones index of the yields on top bonds was about 4.40% v. 4.50% for the blue chips, many investors no longer cared. They were interested less in yields than in the capital gains of growth stocks...
...price of clothing went down a bit, but just about everything else, from food to laundry soap, went up. And so that restless thermometer of inflation, the Bureau of Labor Statistics' retail price index, crept higher again in April. It was the eighth monthly rise in a row, bringing the index to a record high of 119.3 (the 1947-49 average = 100). The new mark was .4 above the March figure and a notable 4.7 above early 1956, when the index, after three steady years, started edging upward. Forecast for May: higher...
...steelmen gathered in Manhattan in an optimistic mood last week at the annual meeting of the American Iron and Steel Institute. A decline in the steel index that dropped production from 98% of capacity in January to last week's 87% seemed about over; many steelmakers reported a pickup in orders. The good news came at just the right time. Steelmaker after steelmaker said the U.S. is in for another steel price rise, for the twelfth consecutive year since World War II, to offset an automatic wage rise in July. Some plugged for $10 a ton, claiming that last...
...chief reasons for the industry's drop in index is the disappointing performance of the auto industry, which is still drawing heavily on its steel inventories. Last week, Henry Ford noted that Ford automobile sales were up 14%, and the company will gross a record $3 billion in the first half. He predicted that "industry new-car sales for 1957 should equal or exceed slightly the 5,800,000 sold in 1956"-well below the 6,500,000 figure originally predicted by the industry, and later dropped to 6,000,000. General Motors' President Harlow S. Curtice...