Word: effect
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Dates: during 1960-1960
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Anastas Mikoyan went to Havana last week and in effect told Fidel Castro that Moscow, mother of revolutions, thought well of Castro's little revolution and was willing to help it out. The Soviet First Deputy Premier went at Cuba's invitation, delivered to him by a special envoy two months ago while Mikoyan was in Mexico opening the Soviets' touring scientific-cultural exposition (TIME, Nov. 30). Ostensible purpose: to open the same fair in Havana...
...systematically humiliated by being stripped, handcuffed and tossed into communal cells. Trujillo's courts hauled 40 of them out of jail, quietly tried them and handed them 30-year sentences. Departing from normal practice, U.S. State Department Spokesman Lincoln White volunteered that the U.S. was "concerned" about the effect of the arrest of plotters on "basic humanitarian principles in the Americas." But the U.S. Navy, not keyed in, sent seven ships to Ciudad Trujillo harbor to let the crews have liberty ashore. The imposing sight of the anchored U.S. Aircraft Carrier Intrepid, with its jets ready on the flight...
...actually boarding his plane." Saarinen's solution: replace the customary "finger-style" airport design, which rays out to distant plane positions, with a compact structure served by a system of "mobile lounges." Instead of boarding their planes directly, passengers will board the lounges: double-width buses in effect, equipped with comfortable seats and high enough to permit direct access to the plane doors...
...predicted budget surplus of $4.2 billion for fiscal 1961 and the promise of further surpluses, which can be deflationary. Whether or not the Administration actually realizes its 1961 surplus will not be known for at least a year, but the very possibility has already had a psychological effect. The stock market is also afraid of tight money, with its nipping effect on many areas, notably housing starts; yet the squeeze appears to be easing. Moreover, if the Administration does get its surplus, interest rates would probably drop, since the Treasury would no longer have to go to the market...
Some chemical companies (Monsanto, Vick Chemical, Freeport Sulphur) also reported moderately lower earnings for the quarter as a result of the steel strike, but all ended 1959 well ahead of 1958. Almost all railroads, whose generally sad financial plight was worsened by the steel strike's effect on business, saw fourth quarter earnings fall. But there were signs that the slump in oil may be over. Standard Oil Co. (N.J.) lifted its profit 11% for the year, made a slight gain in the fourth quarter; fourth-quarter gains were also chalked up by Phillips Petroleum and Standard...