Word: towers
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Dates: during 1950-1959
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Another item cited by the bulls was the fact that 1954's market boom, unlike 1929's, is not built on a tower of credit. Stock buyers must now put up 50% in cash v. only 10% then, with the result that there is now only $1.5 billion of borrowed money in the market v. more than $8 billion in 1929. And despite the buying surge, new money for investment is being accumulated so fast that cash in brokers' accounts totals a record $1 billion v. only some $250 million...
This year Kansas City replaced its last gas street lamps with electric lights. For beauty as well as to advertise its cattle industry, it acquired a monumental bull, perched atop a 90-ft tower and equipped with neon innards. Last week came the biggest innovations for the first time since 1886,* Kansas City had a major-league ball club. The news came after three months of nerve-racking suspense for Kansas Citians: the Philadelphia A's westward move was considerably slower than a walk to the privy in the rain...
Manners' twice-weekly chore with the big clock was a simple matter of starting the motor that winds its huge weights into place. As he worked away inside the tower, hurrying Londoners in the crowded Strand below glanced up as usual for a reassuring look at the great white dial that guided their daily scurrying. Auto horns blared their impatience at a moment's delay, exhaust pipes splattered with selfimportance, old friends called out greetings, and tardy law clerks beat sharp tattoos on the pavements with hurrying heels. In the cacophony that makes a great city...
...hours later, the clock was still running, still keeping perfect time, but something was wrong. Two other clock mechanics went up the tower to see why the great clock was no longer striking the hours. There, his long brown work smock caught in the relentless turning gears of the clock's winding mechanism, they found Thomas Manners, strangled to death by the clock he had tended so long and faithfully...
...needed between ground and air. The airlines want a more complete net of Government-built communications control stations, enabling airports to talk directly with pilots several hundred miles away (maximum range in most places is now 30 miles). With such new radar, DME and communications equipment, the airport control tower at La Guardia could pick up a plane an hour out, slow it up if necessary, reserve a landing time and guide it to a straight-in landing. By thus eliminating stacking, much wasted air space could be reclaimed...