Word: slumping
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Dates: during 1950-1959
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...spur business, the Federal Reserve Board last week brought out the most potent anti-slump tonic in its bag of economic medicines. It cut by ½% the minimum cash reserves that must be kept by the Fed's 6,400 member banks to back demand deposits; minimum reserves were dropped to 19½% of deposits in New York and Chicago. 17½% in most other big cities and 11½% in "country" bank areas. This freed $500 million from reserves, and since each such dollar can generate up to $6 in loans, it could add close to $3 billion...
...SLUMP WILL END by fourth quarter of 1958, predicts Leon Keyserling, onetime chairman of President Truman's Council of Economic Advisers. Keyserling expects economic activity for final quarter to run 3½% faster than 1957 pace, and this year's gross national product to hit $437.7 billion v. last year's $433.9 billion, with large gains in personal-consumption expenditures (up $3.6 billion) and U.S. Government buying (up $1.6 billion...
...Kress & Co., founded 1896, was beginning to feel its years. While its five-and-ten competitors expanded vigorously into the suburbs and prospered in the postwar boom, Kress kept its stores in the downtown sections, saw sales of its 261-store chain slump from $176.2 million in 1952 to $158.6 million last year. Shareholders could do little to change management's conservative policies because the controlling stock-a 47% block-was held firmly by shy Chairman Rush Harrison Kress, 80. He owned 5% outright and traditionally was permitted to vote the 42% owned by the Samuel H. Kress Foundation...
...cars to small even though the public may want them. As expected, he feels it does. American's January production of its small Ramblers was up 163% over the same 1957 period, and Romney expects "a substantial profit in 1958." Every other automaker had a January production slump. Chrysler slashed output 54% below the same period last year, Studebaker-Packard was down 59%, Ford 34%, General Motors...
American Petrofina is expanding at a time when the petroleum industry is in a general slump. Says President Harry Jackson: "A great time-when everybody is down in the doldrums...