Word: rosing
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Dates: during 1950-1959
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...esteem. As director of the U.S. Information Agency, Scholar Larson was cut up by the long knives of politics on Capitol Hill (TIME, Oct. 28). But his credentials in the law area are hard to beat. A Rhodes scholar who took honors in jurisprudence at Oxford (B.S., M.A.). he rose from a Milwaukee practice to dean of the University of Pittsburgh Law School, was appointed Under Secretary of Labor because of his definitive books on fast-changing workmen's compensation laws and on the social security system. Ike read A Republican Looks at His Party while convalescing from...
Curtain Up. Day before the Brussels opening, Music Director Samuel Krachmalnick set about rehearsing a pickup orchestra of phlegmatic Flemings. A Brussels milliner, working from a photograph, in six hours ran up helmets for The Combat. At the scheduled time, in the U.S. Pavilion theater, the curtain rose on the Ballet Theatre. The first work on the bill was Theme and Variations, but variations predominated: girls in Sylphides tutus and men in tights, which had just arrived from New York, leaped and twirled against a backdrop from Gala Performance...
Despite the business improvement, unemployment was still high. The Government last week reported that, while employment rose to 65,179,000 in July, the drop in unemployment was smaller than usual. Because large numbers of new workers are entering the working force (55,000 in July alone) and heavy rains curtailed farm and construction activities in many parts of the country, the jobless total of 5,294,000 was up from June to 7.3% of the working force, v. 7.5% in the April recession peak. Most economists fear that the total will remain high for months. Just as production drops...
Although corporate bonds were holding up much better than Governments (see chart), the sharp decline in U.S. bonds was pushing up the cost of money for Sears and other prospective private borrowers. As the price of Government bonds fell, their yields rose sharply. Last week a recent issue of long-term Government bonds paying a coupon rate of 3¼% was actually yielding more than 3⅝%. A recent issue of relatively short-term bonds with a 2⅝% coupon was yielding...
...recession is not entirely curing itself. The Government has given sizable help. Military spending rose from an annual rate of $8.5 billion in the third quarter of last year to more than $20 billion in the second quarter of 1958; equally important, contract letting was speeded up, causing contractors to go out right away and hire men, add equipment. Congress stimulated housing construction by giving an extra $1.9 billion to Fannie May (actually more than the Administration had asked for), provided extra unemployment benefits for an average of 13 weeks to those who had exhausted their regular benefits. The Government...