Word: torpedoes
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...stepped to the brink of complete currency convertibility, it has not yet taken the final plunge for fear of upsetting the other European currencies. The Germans worry that if they free the Deutsche mark while other currencies are weak, so much trade would flow their way that it might torpedo the European Payments Union, to the detriment of all European traders outside West Germany. Belgium, Holland and Switzerland all have stable money and trade balances, could probably compete under the terms of free currency exchange. Italy, too, is moving ahead rapidly; the lira has been stabilized...
Died. Archibald Montgomery Low, 68. whimsical, wide-ranging British physicist, rocket expert, inventor and author, who in 1914 demonstrated a primitive form of television, three years later designed the first guided missile, went on to invent a device to photograph sound, a system of radio torpedo control, a drop-proof cigarette ash and a golf putter that lit up when swung correctly, turned out some 30 books of history, science prophecy, weapons development and scientific theory; of a lung ailment; in London...
...Cairo newspapers blossomed out last week with identical figures on what Egypt is getting from Communist Czechoslovakia: 200 MIG-15 fighters, 50 IL-28 twin-jet bombers; 200 heavy tanks, six submarines and torpedo boats. Four-fifths of this equipment was said to have been delivered already. Western sources think the figures inflated, particularly the MIG total...
From General Motors Corp.'s research shops last week came a torpedo-shaped car with a revolutionary new engine. Called the XP-50O, the car is powered by a 250-h.p. "free-piston" engine that many Detroit engineers think may be the intermediate stage between today's piston-engine cars and tomorrow's gas turbines...
Died. William Bushnell Stout, 75, famed aviation pioneer, builder of the first (1918) internal-strut, cantilever-wing U.S. aircraft, the first commercial monoplane (in 1919) and the first all-metal plane (a Navy torpedo bomber in 1922), co-designer of the famed Ford Tri-motor ("Tin Goose") in 1925; of a heart attack; in Phoenix, Ariz...