Word: peak
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...voracious demands of over worked air conditioners resulted in power failures from New York to Nebraska, and in dozens of new kilowatt-output records for utility companies in between. At the peak of the heat in Memphis, beer sales foamed 40% above normal. Throughout the swelter belt, appliance stores were soon as bare of air conditioners and fans as if they had never been invented. "There comes a point," exulted a Manhattan dealer, "when a person can't stand it any longer-even if he knows it's only going to be for just one more night...
Though the strike caught the airlines at the seasonal peak of their biggest year ever, they still managed to plug a good many of the gaps in service to 231 cities. Pan American, for example, substituted cramped thrift-class seats for spacious first-class accommodations on all its New York-San Juan flights so as to squeeze aboard 200 more people a day each way. American halved service between New York, Syracuse and Rochester in order to add nine flights a day between New York, Cleveland and Washington. Mohawk Airlines stepped up its schedules where American cut back...
Cunard's basic trouble is competition in the air. From a peak of 1,000,000 passengers who traveled by sea across the Atlantic in 1957, the total dropped to 650,000 last year. In the same period, the number of passengers traveling by air across the Atlantic rose from 1,000,000 to 4,000,000 annually. Sir Basil is determined not to let Cunard founder. His philosophy is: "If we go on regarding ourselves as primarily transport operators, then there isn't any future for us, because the airlines have captured the pure transport market...
...cost of money-the most influential cost in the U.S. economy-soared last week to a peak not seen since...
With that bad news, Douglas' difficulties increased. In seven trading days, Douglas common stock sank 25¾ points to close last week at a 1966 low of 61¾, or 50⅛ points below its 111⅞ peak in February. Many stock prices have skidded since then in the wobbly market, but the Douglas drop is the sharpest in the $22 billion aerospace industry, inflicting a $263 million paper loss on investors...