Word: long
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Dates: during 1940-1949
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...gold (TIME, Nov. 14), speculators apparently followed the dictum attributed to Bismarck: "Never believe anything until it has been officially denied." Over the past months, the speculators went right on bidding up the price of gold stocks. Last week, President Truman pricked the speculators' golden bubble. As long as he was President, he said, the price of gold would not be raised. Next day, speculators unloaded 13,900 shares of Homestake Mining, which dropped 3½ points...
Last week, Du Pont finally found its long-sought competitors in Olin Industries, Inc., one of the biggest U.S. makers of cartridges, military small arms, and sporting rifles. Du Pont will sell Olin licenses on all Cellophane patents. Du Pont will also design and build a plant with a capacity of 33 million pounds of Cellophane a year on a fixed fee basis, and then help train Olin's personnel to get the operation started...
...chance to supplement the Olin cartridge line by buying one of the world's biggest sporting-firearm plants for $8,000.000. Since he likes to hunt, John has since neatly combined business with pleasure. He holds some 20 basic cartridge patents (e.g., Western Cartridge's "Super X" long-range load for small arms...
...along with more than 500,000 Garands. The Olins ran the St. Louis Ordnance plant, turned out a total of over six billion loaded rounds of ammunition. At war's end Franklin Olin stepped down as president (at 89, he is still a director), and John, long the big wheel in fact, took over...
Died. Walter Runciman, Viscount of Doxford, 78, onetime Liberal M.P.,* President of the Board of Trade (1914-16, 1931-37); after long illness; in Chathill, England. In 1931 Runciman drafted, under Tory pressure, the emergency tariff that ended Britain's 80-year-old free trade policy; in 1938 he was unofficial mediator in the Czech-Sudeten pre-World War II crisis...