Word: indexes
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Dates: during 1960-1969
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automatic increases in city rents based on the cost of living index...
...should the students want to know? Well, PRL is the closest thing Harvard has to a how-smart-are-you index, and because of that is one of the College's greatest status symbols. Does ranking first in your class at Exeter make you smarter than a science type who gets a bunch of 800 board scores? It's hard to say. PRL is Harvard's answer to such questions; it is a tidy composite of your high school academic achievements and what the College knows of your aptitude...
...economic confusion continued last week. The consumer price index for July rose at an annual rate of 6% . That was down from a 7.2% rate in June, but little comfort can be taken from the fact. The 3.6% rise in prices between January and July was the greatest for the period since 1951. But a special Federal Reserve Board study shows that businessmen plan little increase in spending for new factories and equipment during the rest of this year. Such outlays have been a major source of inflationary pressure, and for all of 1969 the Reserve Board expects capital spending...
Despite a rally last week, the Dow-Jones industrial average is 15% below the year's high of 969, which it reached in mid-May. The Standard & Poor index of lower-priced shares is down 35%, and many other stocks have lost 50% or more of their value. The plunge has hit nearly every industry. From their 1969 peaks, shipping stocks are off 46%, airlines and motion pictures 40%, aerospace 39%, sugar companies 38%. Losses are only slightly less among coal, copper, textile, oil and insurance shares. Most of the leading conglomerate corporations have dropped disastrously: Litton...
...their airline investments," says Bache & Co. Analyst Henry Siegel. Now the airline stocks are no longer the high and the mighty. They are among the leaders in the market's decline, down as a group by 37% since the beginning of the year. The drop is accelerating: the index of air stocks fell by a startling 11% in five trading days two weeks ago and again by 6% last week. TWA, Pan American and Western Airlines skipped their second-quarter dividends because of sharply reduced earnings...