Word: depressions
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Dates: during 1950-1959
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Harsh & Punitive. It was clear to LaBuy that the Government's plan would depress Du Pont stock by eliminating the huge dividends that the company is paid by G.M. (1958 total: $116 million). By forcing Du Pont to sell 2,000,000 G.M. shares yearly, it would also flood the market with G.M. stock, depress the price of G.M. More important to LaBuy was a ruling by the Internal Revenue Service that any G.M. shares spun off to Du Pont stockholders would be taxed at the full market value as ordinary income...
...strong note on West Berlin: "Freedom, if there's to be peace, is indivisible. We've really got to be firm." Macmillan said, "I agree." On parley-at-the-summit, the President cautioned firmly: "I will not be a party of a meeting that is going to depress and discourage people. Therefore, we must have some promise of fruitful results...
...numbers not names made the season what it was, jamming the beaches, the bistros, the boulevards. Among the regulars, a social historian might have noted an evolutionary decline in the Riviera male. His feet are no longer used for walking, but only to depress accelerators or shuffle through the cha cha cha. Long hours spent in low sports cars seemed to have given him a spinal slump. His flaccid hands may seem barely strong enough to steady a highball glass or stifle a yawn...
...thin 100 miles up for any aerodynamic controls to be effective, the X-15 has an independent system of ballistic controls that need no air. In the nose are four pairs of small jets pointing up, down, left and right (see diagram). When the pilot wants to depress the nose of his craft in near-airless space, he will shoot superheated steam (produced by catalyzed hydrogen peroxide) through the upward-pointing jets. The reaction will push the nose downward. Similar jets in the wingtips will keep the wings level or make the ship bank or roll...
After kicking around Congress for weeks, the Administration's metals subsidy plan (TIME, May 19) finally died last week at the hands of the House of Representatives. Originally put forward to bolster prices in five depressed industries (copper, lead, zinc, tungsten, fluorspar) -and incidentally win support for the President's reciprocal trade program from mining-state Congressmen-the $458 million support program ran into rough going after passing the Senate. Chief reason: many Congressmen felt that the bill would aid mainly those big international producers who are making money anyway and are doing most of the importing that...