Word: slump
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Dates: during 1960-1969
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...been forced to spend $516 million of its U.S. reserves not to press the dollar down farther, but to prop it up at 95? U.S. Last month the drain on its reserves was $115 million. Last fortnight heavy selling by foreign exchange speculators betting that the Canadian dollar would slump still lower suddenly raised serious doubt that the government could hold the line without exhausting the exchange fund altogether-and confronted it with a tricky political choice. Rather than let the challenging Liberals moan about the run on the dollar, the Tory government boldly decided to flee to the pegged...
Marty Beckwith, breaking out of a slump that has dogged him all spring, set a new Harvard high ump record yesterday in the Greater Boston meet at Brandeis. Beckwith cleared 6 ft. 4 1/2 in., 1/2 in, better than his old mark, to take second behind John Thomas...
...Downey, biggest of Nairobi's safari firms, is already considering setting up shop on the Bechuanaland border as a hedge against a bad slump in Kenya...
Changing Rules. Optimists argue that the statistics on housing starts, although weighted to take into account the normal winter slump in building, do not make proper allowance for the fact that the recent winter was the worst in 50 years in many parts of the U.S. The optimists believe that many builders who sat on their permits during the winter will hatch them this spring. They point out that, historically, all but 1% of the building permits issued in the U.S. are eventually used...
...Steel Executive Vice President R. Conrad Cooper, who is the steel companies' chief bargainer and was Goldberg's adversary in the 1959-60 steel negotiations. Goldberg impressed upon "Coop" that John Kennedy wanted early bargaining and a quick settlement so as to avoid a surge and subsequent slump in steel buying. Soon after, at the A.F.L.-C.I.O. Convention in Miami's Americana Hotel. Goldberg told the same to Dave McDonald. Though the Administration firmly denies that it dictated terms, it did declare publicly that any increase should approximate the 2% to 3% annual increase in productivity...