Word: motoring
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...York Stock Exchange's big ticker screens one morning last week flashed a cryptic legend: "F 135 62." Immediately, the cavernous trading room erupted with cheers and popping flashbulbs. The symbol "F," unused since Consolidated Vultee Aircraft gave it up two years ago, now belonged to the Ford Motor Co., which at 10:02 a.m. on Wednesday began its first day of stock trading on the big board...
...hourly in 1949 to $2.47 hourly last year, automation boosted production so fast that the labor cost per barrel of finished products dropped from 28.3? to 23.7?. Refinery workers also benefited. For example, as production at Texas' McMurrey Refining Co. increased from $7,500,000 of high-quality motor fuels a year to $22 million, weekly paychecks rose from an average of $82 to $114, and the total payroll increased. Said President Marvin H. McMurrey: "We have never had any trouble with our union people over automation, and I think the reason is that they realize there wouldn...
...Joint Committee on Highways and Motor Vehicles will hold hearings this morning on two bills which would permit all Massachusetts cities to fine jaywalkers...
Unaided by such mechanical coincidences, a bright red 1956 Chrysler 300-6, owned by Outboard Motor Manufacturer Carl Kiekhaefer and driven by last year's N.A.S.C.A.R. Champion Tim Flock, turned in the fastest flying mile of the unlimited displacement (over 350 cu. in.) class: 139.373 m.p.h. Chryslers of the same model ran the mile at least 10 m.p.h. slower. To get such spectacular performance out of his big (340 h.p.) car, Kiekhaefer kept his highly trained mechanics working for weeks at tuning the engine, test-driving the car, turning the tires down on a tire lathe until they were...
...Ditisheim tried to take over the White Motor Co., whose stock was selling at $13 although it had a book value of $55. Buying 100,000 shares (about 3%), Ditisheim proposed a complete reorganization. But when the company refused to go along, Ditisheim was squeezed out. However, White stock moved up in the general market boom, hit $48 a share last year. Gradually selling their holdings, Ditisheim & Co. wound up with a profit in the millions...