Word: rosing
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Dates: during 1950-1959
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Such news sent steel stocks soaring on the New York Exchange, helped lead the whole market by week's end to a new alltime high of 543.36 on the Dow-Jones industrial average. U.S. Steel rose 4⅛ during the week to 84½. Bethlehem 2¼ to 51, Youngstown 6f to 117. Also helping push the market up was a big play in the nonferrous metals market. Copper shares rose up to 9^ points for the week, partly on the strength of copper strikes in Canada, Northern Rhodesia and New Mexico. Zinc and aluminum stocks also rose...
...eighth of nine children of a poor tenant tobacco farmer, Hodges started working as a twelve-year-old hand in Marshall Field & Co.'s Fieldcrest mill at Spray, N.C., worked his way through the University of North Carolina ('19), then went back to the Spray mill. He rose rapidly, became vice president of Marshall Field in 1943, and in 1950 he retired, at 52, to devote the rest of his life to public service. He served a year as industrial chief of the U.S. Economic Cooperation Administration in Germany. In 1952, unwanted and unsupported by the state...
...every schoolboy knows, it was wildly inflated credit that brought on the 1929 crash. When consumer credit rose to a record $44.8 billion at the end of 1957, many an economist wondered uneasily whether history would repeat itself. Would credit, which had helped speed the postwar boom, bring on and accelerate an economic downturn? Now that the recession is waning, the answer is in. The credit structure not only surprised the experts but showed strengthening timbers that no one ever suspected...
...areas hard hit by unemployment, repossessions (especially of autos) and delinquencies on installment payments naturally rose. But even they were not alarming. In Detroit, businessmen reported a "definite upsurge" in repossessions and mortgage foreclosures. In Worcester, Mass., where non-farm unemployment reached 10%, loan companies reported repossessions up from a normal .5% to nearly 2%. In Gary, Ind., dependent on steel, auto repossessions rose from five...
...Eddie Thomas out of an Akron high school in 1916, made him his personal assistant and trained the young mail carrier's son so thoroughly that in a few years he was delegating responsibilities to him. As Litchfield moved up to the presidency in 1926, Eddie Thomas also rose, became general superintendent of Goodyear in California and worked for Goodyear in England before becoming president at 41, the youngest ever chosen by a major rubber company. Together they groomed Russ DeYoung, son of a Rutherford, N.J. carpenter, for the presidency. Both Thomas and DeYoung brush off talk...