Word: set
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Dates: during 1950-1959
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...year, because there is money piling up in mutual funds, pension funds, and with other institutional investors; but it will be a market of selective stocks." Said Sidney B. Lurie of Josephthal & Co.: "The lows for most stocks are near at hand, and the stage is set for an autumn advance...
Tightening money last week sent the Federal Reserve discount rate to 4%-the highest level in 24 years. It was the fifth such increase since the Fed set the discount rate at 1¼% in the 1957-58 recession as an aid to recovery. In abandoning the 3½% level that had held since last spring, the Fed's purpose was to narrow the abnormal gap between the cost of Fed money to member banks and the rate at which the banks could lend money to their customers. After commercial banks upped the rate to their best customers from...
...said that sales from its mail-order back-to-school brochure are running 23% ahead of last year. Biggest demand is for old standbys such as polo and Chesterfield coats, but there is also a fad for kilt skirts and shaggy-dog coats. In Los Angeles the Smart Sixteen set is buying blankets for a sew-it-yourself skirt and blazer set. Most popular are clothes adorned with raccoon. Says Angela Kroll, buyer for Saks Fifth Avenue: "We can sell anything with raccoon." Best & Co. is doing a big business in detachable raccoon collars ($10.95 for a 14-in. Peter...
Died. Gilbert Adrian, 56, Metro-Goldwyn-Mayer's head dressmaker for a dozen years, husband of Hollywood's first Oscar-winning actress, Janet Gaynor (Seventh Heaven); of a stroke; in Hollywood. For more than a decade Adrian set the pace for women's fashions across the U.S. and even to Paris, made Jean Harlow, Katherine Hepburn and Norma Shearer look like haute couture models, put Greta Garbo in sequined slacks. Lynn Fontanne in a white organdy bow that started a national fad, released Joan Crawford from a movie prison in a little basic black dress that...
Balloons & Barricades. The first relief expedition that set out by rail from Tientsin bogged down when the Boxers burned the bridges. A second was mounted with agonizing slowness and comic-opera disorganization. The 20.ooo-man force was a command nightmare, as seven nations (Japan. Britain, Russia. France, Italy, Austria, the U.S.) raced for glory. Nevertheless, the melee helped train such young military men as U.S. Marine Lieut. Smedley Butler, and British Naval Officers David Beatty and John Jellicoe. successively commanders in chief of the British fleet in World...