Word: w
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Dates: during 1950-1959
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...radio waves pass through cosmic dust clouds. By tracking the 21-cm. waves given off by hydrogen, radio astronomers have been able to probe deeper and deeper through the Milky Way toward the galaxy's center. Recently, Dutch Astronomers G. W. Rougoor and J. H. Oort of Leiden Observatory reported that they had been able to peer into the mysterious nucleus itself. They found there a strange pinwheel of rapidly spinning hydrogen...
Curtiss-Wright Corp. and its Chairman Roy T. Hurley are having their woes in the business of making aircraft engines, but when it comes to press releases, they fly high. Month ago, with sales down from $599 million in 1957 to $389 million in 1958 and still slumping, C-W displayed a "revolutionary" new air-car for U.S. travelers, a vehicle that has no wheels, but zooms along at 60 m.p.h. just off the ground on a cushion of compressed...
...news brought only a statement from NSU that it was working on such an engine, which "still requires much research before it can become a commercial proposition." Privately, the Germans were furious; they claimed that the engine was their invention, that C-W had helped with development funds, and that any announcement at the moment was premature. But on Wall Street, where Curtiss-Wright stock has been hovering in the mid-30s for most of the year, the stock hopped 3¼ points to 35¼. Next morning C-W could not open for 35 minutes because...
...that point, Chairman Hurley and C-W's board of directors had another piece of news: the company cut its quarterly dividend almost in half, from 62½? to 37½?. Sales for the first nine months of 1959 were down $40 million, with a $6,400,000 drop (to $9,000,000) in profits. Once again C-W was suspended from trading as investors tried frantically to dump their stock. When trading was resumed, C-W dropped, wound up 5⅞ points below the high...
...firmed a bit, was back to 36½. But both the New York Stock Exchange and the Securities and Exchange Commission had some questions to ask Curtiss-Wright and its managers. The exchange began investigating to see if Chairman Hurley or any other officer had bought or sold C-W stock recently. SEC Regional Administrator Paul Windels Jr. questioned Hurley about the price movements of the stock. Said Windels: "We are investigating to see if this sequence of corporation actions was done deliberately to have an effect on the market...