Word: west
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Dates: during 1950-1959
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...sounds of Manhattan are far more fascinating to Schwartz than the echo of an Indian sitar. In addition to New York IQ (covering the sounds of Manhattan postal district 19, from the Plaza Hotel to the West Side docks), he has released The New York Taxi Driver (Columbia) and Sounds of My City (Folkways). On them, listeners will find strolling sidewalk instrumentalists, the raucous chatter of pneumatic drills, the wail of sirens-plus a series of rambling speeches, sometimes funny, sometimes pathetic, in the polyglot accents of the New York streets. A plumber, on music: "I mean to me when...
...Most European stocks do look so attractive that throughout the Continent brokerage houses are becoming as popular as coffee houses. In France, where the De Gaulle government recently liberalized imports and devalued the franc to the free-market rate, the general stock index has jumped 24% in 1959. In West...
Helping the bull markets is the fact that governments publicly encourage share ownership by the little man. The West German government has begun to sell shares of state-held companies to middle-class investors in a bold step toward denationalization (TiME. April 13). But markets are so thin that a little buying can send a stock to giddy heights. Four-fifths of West German corporate stock, for example, are locked in institutional portfolios. Companies are reluctant to float more because of heavy taxes. Daimler-Benz has 93% of its stock in the hands of institutions and other companies...
...World stocks have soared since the recent currency liberalization made it easier to repatriate profits in dollars. Heavy U.S. buying in May provided the punch that lifted such stocks as the Anglo-Dutch Unilever from $143 to $153, The Netherlands' Philips' Lamps from $158 to $176, West Germany's AEG (electrical equipment) from $83 to $91. and Bayer (chemicals) from $93 to $105. One reason for particular U.S. interest in Germany: if a foreign investor holds his West German stock for more than three months, he pays no taxes, thus can use his full long-term profits...
...stem the foreign tide by registering their shares so that the company can accept or reject bids to buy. But the broad majority of European capitalists heartily hold out hands in welcome to the U.S. investor. "The more investment the better," says a top Zurich financier. "We in the West are politically and economically in the same boat. The closer we are connected, the stronger we shall...