Word: record
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Dates: during 1950-1959
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...plunked down $37 billion for new plants and equipment (plus $1.5 billion more for new offices), and devised one of the major props under the U.S. economy. Steel expanded 5% to 141 million tons annually; aluminum added 2% to its capacity, synthetic rubber 14%. Oil and chemicals both spent record amounts for expansion. Serving them all. the nation's utilities grew at compound rates, increased their outlays 28% to $6.3 billion, and in the process added 7% to U.S. generating capacity. Among the additions: the first full-scale atomic power plant, which Pennsylvania's Duquesne Light...
...immediate needs, steel may not rise above 75% of rated capacity before June, but the industry expects a 5% to 10% rise from then on, expects to turn out 105 million to 115 million tons for the year as a whole. Construction value will probably increase 5% to a record $49.6 billion, including a hefty 8% boost in housing due largely to easier credit...
...boom eased in the U.S., it was also easing around the world, bringing a drop in the demand for U.S. goods. The record dollar value of U.S. exports ($19.5 billion in 1957) and imports ($12.7 billion) may slip less than 5% in 1958. One of the major battles of 1958 will be over U.S. tariff walls and reciprocal trade pacts, with traders insisting that the U.S. does not buy enough and protectionists insisting that it buys too much. Yet in 1957, an encouraging answer to critics who say the U.S. does not trade enough was the case of foreign automakers...
...politicos think it will be successful. If anything, spending on the farm program-a huge $5 billion in 1957-may rise in 1958 to keep surplus food from collapsing the market. At year's end the 1958 harvest of the winter wheat crop was estimated at a near record of 906 million bu., 28% above the year before and one more sad reminder of the failure of the farm program to cut surpluses. With revenues estimated at $73.5 billion-or less-next year and a budget of $73 billion to $74 billion, the U.S. will probably...
...Carl Zuppke, 78, alltime great football coach (University of Illinois, 1913-41); of cancer; in Champaign, Ill. Sharp-witted "Zup," German immigrant, played football (but won no letter) at the University of Wisconsin, at Illinois created teams that for 15 years were challengers for the Big Ten championship (overall record: 131 victories, 81 defeats, 12 ties, 7 conference titles...