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...last year. Last May's stock prices were based on rosy hopes for big 1946 profits; last week's stock prices were based on the realization that many 1946 profits would be quite modest. The market drop was far sharper than after World War I (see chart] because the shock of disillusionment in the "postwar boom" was greater. Biggest shocker: the Pennsylvania Railroad would lose money this year for the first time in its loo-year history, unless it got a 25% freight increase (estimated loss: $14,616,000 after carryback tax credit...

Author: /time Magazine | Title: THE ECONOMY: First Disillusion | 9/30/1946 | See Source »

...industrial stock prices fell 5.95 points in one day, the sharpest break since May 1940. By week's end it was down 8.56 points to 189.19. The decline was as steep as the one which signaled the collapse of the last big bull market in 1937 (see chart). (Some Gloomy Guses observed that the 1937 recession was also preceded by piling up of inventories...

Author: /time Magazine | Title: Full Speed Ahead? | 9/9/1946 | See Source »

...ordinary G.I.s had no protection from faulty technique. They suffered neglect, abuse and indignities in silence, because to complain meant having yet another psychiatric term added to an already lopsided medical chart...

Author: /time Magazine | Title: Letters, Sep. 2, 1946 | 9/2/1946 | See Source »

...Groove. Molotov was only one of the 14-man Politburo (see chart) which made that policy, and every decision of the 14 could be changed or reversed by one man, Stalin. But in the field of foreign affairs Molotov was the chief executor of the Politburo's will. Last week a diplomat who has spent more than a decade in close study of the Russians called Molotov "perhaps the best executor of policy in the world...

Author: /time Magazine | Title: CONFERENCES: Old Rock Bottom | 8/19/1946 | See Source »

...safety: many airports are "deficient in length of runways, clearness of approaches and other features important to efficiency and safety." Landing at any airport in bad weather is a long, ticklish job. It necessitates a dangerous "stacking" in the air of all incoming traffic (see chart). Planes must fly a tight, narrowly prescribed course on instruments until, directed by ground radio to land, sometimes hours later. A plane last spring had to circle Washington airport for 5 hours...

Author: /time Magazine | Title: Business: Boom & Bedlam | 8/5/1946 | See Source »

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