Word: crashes
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...commodity prices, which have risen sky-high in the last six years, cracked last week. Down, with a resounding crash, tumbled King Cotton. On Tuesday cotton futures fell as much as $2.05 a bale. Next day they flopped $10 a bale, the maximum under exchange rules. In the next two days, prices continued to plummet, $10 a day. On Saturday, the panicky New York Cotton Exchange closed. Chicago and New Orleans followed suit...
...worst crash in the history of U.S. commercial aviation...
...dawn came, field authorities started rescue parties across the fir-patched barrens. There seemed to be no logical explanation for the crash, The plane's flight from New York to Newfoundland had been without incident. There had been a delay at Harmon, but for purely routine reasons. Weather had shut it out of Gander Airport, where a relief crew waited, and CAB rules had kept the plane grounded for twelve hours while its pilots slept. An engine check, made during the delay, revealed that all its power plants were functioning perfectly...
There was only one possible method of burial. Sober-faced workmen packed 300 pounds of dynamite to the cliff, tamped it into the rock, set it off. An avalanche rumbled down. As had been done after the recent Newfoundland crash of a Belgian Sabena airliner, a Catholic priest, a Protestant clergyman and a Jewish rabbi read burial services from a plane which circled overhead. Then the wilderness fell silent again...
Faced with these cold facts, money-losing corporations, which had kept payrolls fat in hopes that peak production would pull them out of the red, now began to think about trimming. After the stockmarket crash, Wall Streeters had predicted that many a businessman would start using the ugly word "retrenchment" instead of expansion. Last week, in one of the country's key industries, at least, it looked as if the retrenchment had started...