Word: sec
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Dates: during 1960-1969
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WALLACE ("BUD") WERNER. 27. of Steamboat Springs, Colo., swooshed boldly through Sun Valley's downhill course in 2 min. 20.5 sec. to beat (by .9 sec.) Switzerland's Jos Minsch-winner of Innsbruck's pre-Olympic race. Next day. Werner won again in the twisting slalom. At Mount Alyeska, he beat Minsch in the downhill-only to lose by a bare .1 sec. to another American. Plagued with bad luck. Werner took an inglorious spill in the 1956 Olympics, had to sit out the 1960 games with a broken leg. He intends to make...
...Said SEC Chairman William L. Cary: "It is not a picture of pervasive fraudulent activity." With that, the Dow-Jones average of 30 key industrial stocks rose 13.22 points in the 2½ trading sessions after the report's release, reaching 702.43, its highest level in a year. For all the relief, however, no one could afford to overlook an important fact that Chairman Cary had also noted: "Grave abuses do occur, and additional controls and improvements are much needed...
Obviously, the SEC has been mindful too that-in an area so crucial to the economy and so sensitive to cross winds -unconsidered judgments and overstatements could have wide repercussions. In the great postwar bull market, Wall Street had become the common man's Monte Carlo. Between 1945 and 1961, the army of investors tripled to 17 million, and the value of listed stocks increased 400%. The New York Stock Exchange, which accounts for 71% of all trading in listed shares, has outgrown its famed disheveled trading floor and now plans a much larger exchange by the water...
...hardly stay on the same track with a serious-minded Ferrari. But the 1963 Corvette Sting Ray is new from its independent rear suspension to its fastback body shell. On a casual test lap, a Sting Ray zipped around the twisting, 5.2-mile Sebring course in 3 min. 12 sec. -beating the official track record set by Ferrari last year. Then came Ford with the hybrid AC Cobras, developed by ex-racer Carroll Shelby, with a light British body hiding a huge 350-h.p. Ford engine. The Cobras claimed to be even faster...
...trick worked. The spectrum of one of the radio stars, 3C-273, turned out to be the spectrum of an object racing away from the earth at 31,000 miles per sec., one-sixth the speed of light. But only galaxies, which get their speed from the general expansion of the universe, can move that fast. The astronomers concluded that they were dealing not with a star but with an entire distant galaxy...