Word: record
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Dates: during 1950-1959
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...like a "recession" at all. Prices will probably go up 1%. Gross private investment is expected to decline some 5%, and corporate profits will be lower: some $41 billion before taxes, or about 3% less than 1957. But gross national product will stay level at this year's record $439 billion, and industrial production, as measured by the Federal Reserve's index, will only slip 1.5% or 2%, a barely noticeable drop compared to the 5% or 6% decline the U.S. experienced during the so-called 1954 recession. Unemployment will also increase, yet only...
...Economic Department, predicted that house building, down this year, will rise 10% to a total $16 billion in 1958, balancing in part a 7% decline (to $34.5 billion) in plant expansion. And by 1960-"perhaps before," added Keezer-"investment in new plant and equipment will be heading for another record...
...fall back on. While net profits rose 23.1% between June and December 1956, companies increased dividends by only 2.2% (to 14.1%), retained the bulk of their earnings. As for Japan's consumers, heavy savings from past years (12% of disposable income v.7% in the U.S.) plus a near-record 371 million-bu. rice crop give them plenty of money to spend. Department store sales are up 23% for 1957 despite the credit pinch, and in one rice-rich village on the island of Shikoku in Southern Japan, the population of 300 families bought 300 motorcycles, 300 electric washing machines...
...Adrain Robert Fisher, 62, president of Johns-Manville Corp., largest U.S. manufacturer of asbestos and fireproofing materials (1956 sales: a record $310,390,381), was named chairman and chief executive officer to succeed Leslie M. Cassidy, who retired. After graduating from Rutgers ('16) and working for two New Jersey manufacturers, he joined Johns-Manville in 1923 as superintendent of the asphalt-roofing department in its Waukegan, Ill. plant, soon moved to the managerial side as production executive, in 1951 became president (a post he will retain). Since the end of World War 11 the company has invested more than...
Died. James Edwin (Ted) Meredith, 65, fleet-footed oldtime track champion who won fame at the age of 20 by setting a world record for the 800-meter run at the 1912 Stockholm Olympic Games, later set the 440-and 880-yd. records, also served as an income-tax-delinquent hunter; after long illness; in Camden...