Word: peakes
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Dates: during 1950-1959
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Harvard, too, has attracted a peak number of applicants; but since the war, it has suddenly become locked in a friendly but dead earnest rivalry with every other top eastern college to recruit the "most outstanding" students in the country. For over the years Harvard has sought a Balance in the College" that includes not only top brains but also leaders in a variety of things other than scholarship. But certain fears have lately been growing that the numbers of men seeking admission to the College do not represent the best possible of all applicants...
Wall Street's bull market has been faltering ever since it hit its 20-year peak on May 3. Last week, the bull did more than falter; it fell. At midweek a wave of selling struck the market just before noon, drove some stocks down as much as six points. Before that day's close, the market got back some of its losses, and it held steady to week's end. But its old, heady vigor seemed to be gone...
Would there now be a big drop? Wall Street's chartists conceded that the bull had taken quite a tumble, from the 263.13 peak of the Dow-Jones industrial average to last week's intraday low of 241.89. But they took cheer from the fact that every time the market approached the lows reached in March, new buyers rushed in and pushed it up. Since the market had "tested" the old lows and held, the chartists thought that it could go up again...
...could put much of the burden on them, did not have to spread its own staff too thin. United expanded its own engine-making twelve times, turned out 137,436 engines in all. It expanded its propeller-making ten times, boosted its plane-making from 72 to a wartime peak of 2,677 a year. Its production was so important that the Government arbitrarily ruled it out of experimenting with jets; it did not want anything to interfere with engine & plane output. Instead, the Government got the plans of some British jets, turned them over to General Electric and Westinghouse...
...nowhere near what the U.S. needs to fight a hot war, or even supply reasonable protection in a cold one. In the past year, production has not even doubled. In 1951, it will not exceed 5,000 planes (about the 1939 rate) v. World War II's peak of 96,318 (see chart). Engines are the bottleneck, and there are two main reasons: shortages of machine tools and of critical metals (cobalt, columbium and tungsten). Moreover, engines are so much bigger and more complicated than World War II's that it takes more time, more skill and three...