Word: stretch
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Dates: during 1950-1959
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...Persian Gulf Strikes it Rich ON a lonely stretch of sandy, salt-encrusted coastline ranging from Oman to Iran, in lands so parched that clear drinking water is a luxury, the greatest treasure hunt of modern times goes on. Bordering the Persian Gulf, sometimes thousands of feet below the surface, lies the greatest pool of oil in the world. So far, 50 billion barrels of oil reserves, worth at least $100 billion, have been found-and this is only the beginning...
...stretch-out in the arms program began to look like a yawn-out. The military, which had been placing orders at a $5-billion-a-month clip last October and had planned to settle down to $4 billion a month, was now issuing contracts for only $2.8 billion a month. Actual deliveries of military goods, instead of increasing, were running at a rate of only $2 billion a month, unchanged since last September. Furthermore, though the U.S. was expected to run a deficit of $14 billion this fiscal year, it was temporarily running a cash surplus-another deflationary factor...
...that rearmament's tightest pinch on civilian production would come in 1952's second quarter. But last week, when the Defense Production Administration allocated the quarter's supplies of metals, manufacturers learned that the pinch will not be as tight as they had feared. Reason: the "stretch-out"in the arms program enabled DPA to reduce the additional 10% cut in metals which had been scheduled. Instead, steel will not be cut at all; copper and aluminum will be cut only 5% on the average. And even "less essential" producers (aluminum blinds, cigarette lighters, etc.) will...
...freshman sextet defeated New Hampshire freshmen on Saturday afternoon, 7 to 1, to stretch its season record to 10-1-1. Doug Manchester led the Yardlings with four points, while Pat Pratt and Scott Coolidge got three apiece. The Yardlings tied the Greater Boston All-Stars second team on Friday night...
Last week DPAdministrator Manly Fleischmann found that the armed services had allocated 20 million more pounds of aluminum than they could use under the "stretch-out" arms program. He granted an extra 1,000,000 Ibs. for the auto industry. As a result, the industry, which had been authorized to turn out 930,000 cars in the second quarter but allowed only enough copper and aluminum for 800,000, hoped it might be able to boost its production closer to the authorized quota...