Word: levelation
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Dates: during 1950-1959
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Were they content with the present level of U.S. investment, did they want more, did they want less or none? In every city except Caracas, where U.S. investment had become identified with Dictator Marcos Perez Jimenez before his overthrow, the vote for more investment outweighed the have-enoughs and the lessor-nones. As for economic aid, only in Mexico City did a majority feel that the U.S. was sending enough; elsewhere more than 57% thought...
...need some deep X-ray therapy that we have not found." Agnosticism, he complained, is flourishing in Britain in place of the great religious revival for which Methodists so fervently hoped. Last year the number of new Methodist church members (current membership: 739,000) fell to the lowest level in 13 years; some 100,000 children stopped attending Sunday schools. Every year, for the last twelve years, the total number of ministers has declined; it fell by 276 during the past year. There is a shortage of 5,000 preachers in rural areas, where Methodism may soon "expire." Added Sangster...
...experts think that inventory liquidation, still proceeding at a fantastic $7 billion annual clip, will level off rapidly, perhaps even reverse into a modest inventory accumulation. The uncertainties of international affairs will cause many a manufacturer, wholesaler and retailer to think twice before eating more deeply into his stocks. The wise businessmen will tend to keep inventories level, or increase them a bit as a hedge against possible emergency. Said a Cleveland machine tool manufacturer: "Our story to customers is that now is the time to buy before we get jammed." In the same way, businessmen look for industrial expansion...
...Federal Reserve reached the same conclusion with a different set of soundings. At 130 on the 1947-49 index, June industrial production was two points above the May level-and four points higher than April. Output was up in all major categories with increases ranging from four points in both industrial goods (machine tools, aircrafts, etc.) and consumer durables. Even more meaningful was the news on personal income. Though total personal income has held remarkably stable throughout the recession, serving as a needed ballast for the whole economy, April's rate for wage and salary disbursements had still dipped...
Despite the general enthusiasm, many shrewd traders are skeptical of the current market level, feel the market is due for a retrenchment. The experts argue that prices are already so high that they discount both a business upturn and any acceleration the Mideast crisis might bring. "Korea brought a quick dip and then a quick recovery," said Ralph A. Rotnem, partner of Harris, Upham & Co. "But today the market is more vulnerable; people are paying twice as much for earnings now as in 1950." Bears point out that the Dow-Jones industrials in mid-1950 sold at eight times earnings...