Word: telegrapher
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Dates: during 1960-1969
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Buying has been strong in oils, coppers, food, papers, machinery and steel. Some of the blue chips have taken part in the rise; IBM has jumped from 592 to 639 in a month, and American Telephone & Telegraph has gone from 104 to 113⅞. But as a group, the blue chips still draw a wary glance from many investors. "They do not provide protection against the kind of cost-push inflation we have been having," says Bradbury K. Thurlow, vice president of Winslow, Cohu & Stetson, "and they are selling at inflated price-earnings ratios, which imply a future growth potential...
...anxiously eying a growing backlog of unsold compacts in showrooms and on snow-packed car lots. The cost of living edged upward by one-tenth of 1% in December, bringing it to a record high. The stock market was strong but erratic: rails drooped badly even while American Telephone & Telegraph shares reached an alltime peak...
...pundits around the world were already debating the deeper significance of their adventure. DETENTE. THE HORIZON CLEARS, cheered headlines in Paris' L'Humanité. "We welcome this action as removing one obstacle to Soviet-American relations," said a British Foreign Office spokesman. The London Daily Telegraph was more skeptical, and more realistic: "We should not forget that it has for many years been the practice of Soviet diplomacy to take up indefensible positions, and then to expect gratitude when some small retreat is made from them...
...Moritz, Switzerland. Reason for her visible dismay was the performance of the team captain of the Royal Scots Greys-her son, the Duke of Kent, 25. The duke fell twice in the downhill, each time losing a ski, was disqualified in the slalom. Straight-faced the London Daily Telegraph: "The duke was none the worse for his experience...
...American Telephone & Telegraph, the world's biggest company, scored the highest profits ever made by any company in a twelve-month period. Net for the year ended Nov. 30 was $1,244,000,000, or $5.52 per share, v. $5.16 per share the previous year (former record: General Motors' $1,189,000,000 in 1955). Fourth-quarter earnings were $1.40 per share v. $1.33. The company's operating revenues were also a record, $7.9 billion, up from $7.4 billion. Reasons: an increase of 2,800,000 in Bell telephones in use to a 60.7 million total...