Word: slowdown
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Dates: during 1950-1959
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Oilmen, grumbling about refinery stocks of 437 million bbl., one of the highest early winter supplies in history, chopped back production 5%. Appliances, autos, machine tools all felt a slowdown. Private housing starts dropped 10% to less than 1,000,000 new houses, for the first time since 1947. And as freight-car loadings fell 16% at year's end, railroads were in such a fever to cut rising costs and bolster sagging profits that the Pennsylvania and the New York Central, giants of the industry, talked longingly of merger...
Pinch & Punch. What did the signs add up to? Answers ranged from a breather (Dwight Eisenhower) to a serious recession (Texas' easy-money Democratic Congressman Wright Patman). Various economists and businessmen called it recession, rolling readjustment, healthy adjustment, mild cyclical adjustment, slowdown, shakedown downturn, downtrend, sidewise movement, plateau, leveling off, period of hesitation, soft period, temporary cyclical swing in long-term growth, polka-dot prosperity with the spots getting bigger...
Chief reasons for the slowdown are a surplus of oil and light demand. The trouble started during the Suez crisis, when oilmen expanded to meet a big demand that did not come; it was made worse by the failure of the U.S. to increase oil use at a normal 6%-a-year pace. In October, demand, ran only seven-tenths of 11% ahead of October 1956. In this softening market, the oil-rich states are holding down the amount of allowable production to hold up the price, and offshore oil has been cut by the general slash. The State...
...slowdown has idled millions of dollars worth of drilling equipment. Humble Oil, which vies with Magnolia as the third biggest offshore producer (12,115 bbl. a day), has only twelve rigs operating in the Gulf now, v. 16 during the first ten months of this year. The powerful CATC oil combine-composed of Continental Oil, Atlantic Refining, Tidewater and Cities Service-last week was working only 15 rigs, v. 19 in August...
...expense of such caution was added the extra costs of a deliberate slowdown on construction to recheck everything in the process. For example, the 58-ton reactor core was lowered into place as slowly as three-thousandths of an inch at a time, a job that took 24 hours. But for Navy Rear Admiral Hyman G. Rickover, who closely checked the building of the reactor at Shippingport (and of the Nautilus), the whole point was to make the plant "safe enough for my son to play in." To persistent questions from businessmen about the high costs, Rickover has one stock...