Word: instruments
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Dates: during 1950-1959
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With Anderson, Persons, Halleck and Dirksen giving him incalculable aid, Ike adeptly forced his balanced budget upon the overwhelmingly Democratic 86th Congress. His sharpest instrument was his veto power; five times so far this year, the President vetoed measures he considered extravagant, and each time he made his veto stick. By mid-session, even as Senate Democratic Leader Lyndon Johnson was grumbling about "vetoes, vetoes, vetoes," the Democratic congressional leadership threw in the towel, began working for legislation close enough to the President's own spending recommendations to escape the veto. At that point, the Eisenhower budget battle...
...Navy, Dr. Dooley persuaded the International Rescue Committee to set up Medico (Medical International Cooperation) to sponsor hospitals in remote, underdoctored areas. Meanwhile, he made use of his immense energy, considerable Irish charm and silver tongue to get equipment and supplies: drug and instrument manufacturers have donated material, several individual gifts topping $100,000. For ready cash, Dr. Dooley plowed in his book royalties and the proceeds from grueling lecture tours, once raised $10,000 (largely in dimes and quarters) from a single, heartfelt appeal on Dave Garroway's Today program...
...California's Vandenberg Air Force Base, the Air Force launched Discoverer V, putting a ton of hardware into orbit, including the 1,700-lb. second-stage rocket and a 300-lb. instrument package-a new record for U.S. satellite payloads (but still far behind Russia's 2,134-lb. Sputnik III). After 17 trips through its polar orbit, retrorockets were to plunge Discoverer V back into the atmosphere, and C-119 transport planes-trailing trapezelike devices to snare the descending parachute-were waiting 700 miles southwest of Hawaii. But Discoverer V was never heard from again...
...hardest fall was taken by the highest flyers, the space-age electronics stocks, which have soared giddily in recent months. Fairchild Camera & Instrument Corp. fell 23¾ points on the American Exchange. So great was the confusion when trading in Fairchild Camera was suspended temporarily that Exchange President Edward T. McCormick went onto the floor to discuss the break at Fairchild's trading post. Other electronics stocks followed; Texas Instruments fell 3⅞, IBM 2½. Zenith 4⅛, Litton...
...that an end to the cold war would be bullish, since it would open the way for a cut in the U.S. budget and in taxes. The Dow-Jones industrial averages dropped 6.31 points in the week, led downward by the electronics stocks. Electronics manufacturers were flying high; Texas Instruments reported alltime-high second-half earnings of $1.62 per share v. 66? last year. Its stock dropped 20⅜ points during the week to close at 126⅛. Volatile Fairchild Camera & Instrument Corp. announced first-half earnings of $1.61 per share v. a $104,000 loss last year...