Word: walls
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Dates: during 1950-1959
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Since most of the world-acknowledged masterpieces of painting are now safely behind museum walls, the few prizes that remain for big art hunters are all tagged, numbered and precisely located. A sudden blank space on the wall of one of Europe's castles, cháteaux or palaces does not go unnoticed for long. Last week word quietly leaked out that what may be the prime catch of the years was quietly bagged last December by Manhattan Financier and Collector Robert Lehman, whose one-collection show at the Louvre's Orangerie last summer...
...businessmen who pride themselves on inside dope, Wall Streeters were caught flat-footed last week. The Federal Reserve Board announced what no one on the street had expected: a cut in margin requirements (money that must be put up to buy stock on credit) from 70% to 50%. For a few heady hours next day, the market marched uphill. But before day's end it had marched right down again. It closed the week at 444.12 on the Dow-Jones industrial average, up 5.44 points, mostly on gains made before the announcement...
...quite sure why the Federal Reserve had lowered margin requirements at this time. Wall Street looked on it as a move to bolster investors' confidence, although the Fed insisted that its motives were not that at all. Said a Fed spokesman: "Our only interest is in loosening a credit restraint that was no longer needed." Actually, the higher margin has not been needed for months. Since last June, stock-market credit affected by margin requirements has declined steadily, at latest report stood at only $5,218,000,000, the lowest point in three years and less than...
...combined office and plant in Pasadena. He saw a dazzling, 400-ft.-long, low, white-and-gold façade, faced with an airy grille of masonry, half given over to a carport spaced by hanging saucer-gardens. Black-bottomed reflecting pools reached under the cantilevered grille-wall to give the building a hovering effect. Five evenly spaced jet fountains splashed aerated water in the sun. The whole structure was set back a deep 150 ft. from the boulevard, and magnificently set off by San Francisco Landscapist Tommy Church with lawns, ferns, clusters of palms. "Oh, my, Ed," mumbled Hanisch...
Dynamics' stock is one of Wall Street's most glamorous, and hardly a week goes by without a spate of reports about another project or merger planned by the company. Last week three mergers were rumored; all were denied by the company. The glamour is more than skin-deep: a share of Dynamics' stock bought for $25 in 1952 is now worth $192 (after splits); the company's profits rose 40% to an estimated $44.8 million last year. In the deadly competition of weapons, brains and power between the U.S. and the Soviet Union, General Dynamics...