Word: slumping
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Dates: during 1950-1959
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While the National League leaders wore each other out, the high-riding Yankees began their last Western trip of the year as if it were a vacation. Mickey Mantle's chance of hitting 60 home runs had died in a late-summer slump; Yogi Berra had already hit the 237th homer of his career and broken Gabby Hartnett's record for major-league catchers. There was nothing left to worry about but playing baseball. The Yanks played like champs...
Wall Street bounced back last week from the August slump brought on by the first alarm over the Suez crisis and the Federal Reserve Board's damping down of credit (TIME, Sept. 3). As investors began to pay more heed to good news at home rather than bad news from abroad, the Dow-Jones industrials jumped 5.62 points in the first trading session after Labor Day, one of the biggest gains in months. Wall Streeters took the upswing as a bright omen: the market after Labor Day has often forecast the trend for months to come; e.g., the wartime...
...Federal Reserve noted at week's end that retail sales (excluding autos) for first-half 1956 averaged 6% above the same period in 1955, more than offsetting the slump in car sales. Wholesale prices and the cost of living seem certain to edge even higher when 1,250,000 union workers collect automatic raises as a result of June-July advances in the consumer index. After raising price tags a record $8.50 a ton in June, steelmen are already talking up another boost. The -auto industry, setting its sights on a near-record 7,000,000-car year...
...interlude (1941-51) as a puppet of the Treasury, back into an independent and effective custodian of the nation's money. Republican officials sometimes question Democrat Martin's judgment, notably after he boosted the discount rate last spring, at a time when many experts thought that a slump in business was ahead. But no one ever questions his integrity. He is famed in Washington as a man of low pressure and high principle, the boy wonder who has continued to make good ever since he was elected president of the New York Stock Exchange at 31. Martin regards...
Tobacco Money. A realist who knows his history, Martin is well aware that he could overnight become the scapegoat of slump. In the crisis-stained chronicles of U.S. finance, bankers have been crucified on crosses of gold, silver, paper and every other substance used to back currency. From early colonial days, when they had to ship scarce gold and silver abroad to pay for imports, Americans chronically lacked sufficient backing for stable money. Virginia in the 17th century used tobacco for money (top-grade weed was worth 3$. a lb.), but was plunged into inflation by citizens' cash crops...