Word: timed
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Dates: during 1950-1959
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...decision closely paralleled the plan proposed by Du Pont itself after the U.S. Supreme Court had ordered the separation under the trustbusting Clayton Act (TIME, June 17, 1957) and sent the case back to Judge LaBuy to decide the details. He firmly rejected the Justice Department's demands that Du Pont distribute two-thirds of its G.M. holdings to its shareholders, sell the other one-third on the open market over a period of ten years. Such a plan, said the court, would have a "serious impact on the market value of the stock of General Motors...
...fatherly lecture from U.S. Treasury Secretary Robert Anderson. Anderson underscored what the delegates already knew: the U.S. is suffering from a deficit in its balance of payments that is causing an outflow of gold from the U.S., steadily raising the amount of U.S. gold earmarked for European nations. The time has come, said Anderson, for the rest of the world to give a helping hand to the U.S. Said he: "There must be a reorientation of the policies of the earlier postwar period...
...doing their share to bear the cost of help to the world's underdeveloped nations; they should take over a greater share of the burden from the U.S. To this end Anderson had a pet U.S. project on hand: the establishment of an International Development Association (TIME, Aug. 19) to lend to underdeveloped nations from funds contributed by nations now belonging to the World Bank. The loans would be made on more liberal terms than the World Bank...
...Encouraged and coached by his father, Sid began trading, at 17 made $3,500 by shrewd cattle dealing. For a year and a half he attended Waco's Baylor University and Abilene's Simmons College, left after telling friends that he saw no reason to spend his time in the library when there was so much money to be made on the outside. He served a three-year apprenticeship in the oil business as salesman, scout and leaseman, left the oilfields to return to his first love, cattle raising. His herd died of tick fever, putting...
Died. Captain Bruce Bairnsfather, 71, British World War I cartoonist who spent his spare time in the muddy trenches in France drawing "Old Bill," the sad-eyed, shaggy-headed, walrus-mustached embodiment of the dogged British Tommy, earned a fortune as Old Bill endeared himself to readers around the world; in Norton, England...