Word: blue
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Dates: during 1950-1959
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Early Life: Born April 10, 1906 in Philadelphia's blue-blooded Germantown, son of a millionaire attorney-banker-industrialist who became president of the University of Pennsylvania (1930-44). Prepped at Philadelphia's Chestnut Hill Academy; majored in English at Penn ('28), played basketball, managed the football team, made Phi Beta Kappa...
Government: Tapped by President Eisenhower as Under Secretary of the Navy in 1953, Republican Gates was promoted to Secretary when Charles Thomas resigned in 1957. Known as a black-shoe, sea-blue navyman at home either behind a desk or on a deck, he helped guide the Navy through its heady revolution from guns to guided missiles, from props to jets, from steam to atom power. Businessman Gates also brought into the Navy the best electronic bookkeeping system of all the services, bucked the admirals to inaugurate a program under which talented but untrained enlisted men now take science courses...
...everything. As in Christopher Morley's 1939 bestseller, the story tells what happens when a Philadelphia girl (Diane Brewster) tries to go beyond her station on the well-known Main Line. She marries into one of the very best families, but on her wedding night discovers that the blue blood has run pathetically thin. Frightened and confused, she flies back to the arms of her redbrick-Irish boyfriend (Brian Keith) and soon finds herself with child. She also finds herself without a husband: he smashes up his car and is killed. Coldly refusing to marry the man she really...
...Robinson: "Within their range, mutual funds can fit the need of almost any investor." They can also find a host of critics. Many critics charge that the funds, along with other institutional buyers, have needled the roaring bull market to artificial highs, that their constant buying, chiefly of blue chips, has helped create the present shortage of stocks. The funds' answer: they hold only 3.4% of all stock on the New York Stock Exchange, and do not hoard it; they turn their shares over faster than the exchange as a whole...
...stock funds just kept pace with the averages in the seven-year bull market. But Broker Arthur Weisenberger, the Boswell of the industry, whose brokerage house puts out the definitive yearbook of the funds, argues that an investor could pick a slow mover even in the stocks in the blue-chip Dow-Jones averages. Only 14 of the 30 stocks have done as well as the 229% gain in the averages in the last ten years...