Word: slide
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Dates: during 1960-1969
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...President's promise was part of a hastily mounted Administration drive to avert a further slide on Wall Street and to restore business confidence. Earlier in the week. Treasury Secretary Douglas Dillon, in a speech to New York financial writers, implied blandly that the Administration had been planning to cut taxes all along. In fact, until Wall Street's Blue Monday, Kennedy and Dillon had conceived of the tax-reform plan-which they hope to push through Congress next year -primarily as a measure to close loopholes and eliminate inequities...
Last week, with production running 9% ahead of last year, all signs were that paper's long downhill slide had finally ended. West Virginia Pulp & Paper Co. reported that its net for the three months ending April 30 was up 40% to $2,200,000. Union Bag-Camp Paper Corp. increased its first-quarter earnings 21% to $4,900,000, and most other major paper companies also showed solid gains. Said President William R. Kellett of Kimberly-Clark Corp. (Kleenex, Delsey): "The industry isn't out of the woods yet, but we're beginning to see light...
...Dream of Freedom. One result of the week's unnerving slide was an outburst of resentful complaints at Wall Street's ability to panic stockholders everywhere. Protested Belgium's leading financial paper, L'Echo de la Bourse: "Nothing in our industrial situation justified an adjustment of such importance." Zurich's Neue Zürcher Zeitung wished that Swiss stock markets "would show some sense of emancipation" from Wall Street. But with the international financial community becoming ever more intertwined, one man's aches are surely going to continue to be another's pains...
...bear has become a more formidable character on this week's cover. The story was written by Marshall Loeb, 33, with some feeling, since of the ten stock issues in which he has small holdings, three were among the 15 biggest losers in the current slide...
Last week 1,500 Rio slum dwellers were homeless after the sandy hillside on which they perched gave way. Luckily, no one was killed. A few years ago, thousands lost their homes in a similar slum slide...