Word: wall
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Dates: during 1950-1959
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...Modern Art, designed in 1937-38 (completed in 1939) with the late Philip L. Goodwin, one of the earliest U.S. buildings constructed in the International Style. Conceived as a luminous rectangle, incorporating vast, flexible loft space for exhibitions, and an inviting, open ground floor, it is fronted by a wall of insulated glass to give the interior an alabaster glow. Stone calls it "a simple, vivid, workable building...
...allies in Middle East. Agreement has been drafted to lay $500 million 1,100-mile line from Iran's Qum field (TIME, May 6) to Turkey's Mediterranean port of Iskenderun, and the two nations have offer of financial help from U.S. investors headed by Wall Street's Allen & Co. Prospect is that Iraq will hook into line via short feeder pipe, thus bypassing Syria...
...Fenner & Smith, biggest brokerage house. The proposed increase, said Merrill Lynch's Managing Partner Michael McCarthy, discriminates against the small investor, who will pay 30% more on a $500 transaction. He argued that most brokers are getting an adequate return despite higher operating costs, since commission earnings of Wall Street houses after partners' compensation and expenses run an average of 10.1% before taxes. But most Wall Streeters thought the chances were better than even that commissions would...
...Today Wall Street is looking to a brighter future. Experts expect that trading will be slow for the rest of the year, that stocks will seesaw in a narrow range. The big test of whether the market has seen its low will come in the next six weeks, when companies release their first-quarter earnings. Railroads, copper and other metals, already hard hit in 1957, are not likely to improve. Nevertheless, Wall Street feels that the basis is being laid for a rise in late 1958 and 1959. One clue is the widening spread between stock dividends and bond yields...
Stumbling Bull. This calm view of the recession was reflected in normally jittery Wall Street. The bull market had been the first to take fright last year. After hitting a July peak of 522.77 on the Dow-Jones industrial average, only a shadow below the alltime high, the bull started to slip, stumbled to his knees in October, when the average hit 419.79. As a result, shrewd investors have long since discounted the current news...