Word: streeters
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While many businessmen groan about "profitless prosperity," one manufacturer of everything from manure spreaders to nose cones has reversed the trend: profits are rising despite slipping sales at New York's Avco Corp. Last week Chairman Kendrick R. Wilson, 48, a onetime Wall Streeter told a luncheon of securities analysts that Avco's earnings for the first nine months of its fiscal year jumped 20% to $8,800,000, though sales slumped 3% to $234 million. As soon as Wilson sat down, his good friend, President James R. Kerr, 44, got up and explained how Avco turned...
...coming-out ball for Jeanette Constable Maxwell, 17, daughter of a longtime Getty friend. The party drew excellent notices from the press. "Easily the most fabulous evening since the war," burbled London Daily Express Columnist William Hickey, who also hailed it as "good, oldfashioned, vulgar fun." Another waggish Fleet Streeter made a kill joy calculation: the party lasted eight hours and probably cost Getty $30,000 -but in the same period his fortune automatically swelled by an estimated...
...major criticisms by many a Wall Streeter of the technical approach to the market is that the technicians often cannot agree on what the charts signal. Last month, when the Dow-Jones industrial and rail averages dropped through their previous lows, such classic Dow theorists as Richard Russell held that a bear market was on (TIME, March 14). But another group of Dow theorists, led by E. George Schaefer of Indianapolis, argued that it was a false bear signal: the market was really getting ready to rise to new highs...
...that they have come down to earth. Wall Streeters expect a year of steady growth instead of soaring boom, and a possible recession in 1961. But they do fear that the disappearance of paper profits may have made many investors turn cautious, at least temporarily; they are also unhappy at the decrease in stock buying, since they feel that only big volume when the market stages a rally is a convincing sign that the bottom has been reached. But many a Wall Streeter who thought that the market would reach its lows later in the year is now convinced that...
Johns Hopkins File 7 (ABC, 12-12:30 p.m.). The Unknown World is the planet Venus, explored in this second segment of a three-part series on astronomy. Guest commentator: John Streeter of Philadelphia's Franklin Institute...