Word: spring
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Dates: during 1960-1960
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From Harvard to Holyoke, Massachusetts cherishes rich colleges with independent incomes-and barely gives an allowance to its own virtually unendowed University of Massachusetts in Amherst. No one feels this more keenly than Massachusetts' able President Jean Paul Mather, who will quit this spring in protest against low faculty pay (TIME, Aug. 31). Last week Mather's 5,200 students offered another kind of protest to the penny-pinching state legislature. To import sorely needed "cosmopolitan contacts," Senior Winthrop F. Sheerin, 25, of West Stockbridge, Mass., proposed that a "distinguished visitors' " chair be endowed by the students...
...last spring, Kavas Nanavati asked his wife a dangerous question: Why was she acting so cold toward him? Sylvia confessed that she was having an affair with a Bombay businessman named Prem Ahuja. After a painful discussion, Nanavati drove to his ship in Bombay harbor, checked out a .38 service revolver from the Mysore's armory. His next stop was the apartment of Philanderer Ahuja, whom he surprised as he was stepping from his bath. In a struggle over the gun, according to Nanavati, he shot Ahuja three times and killed him. Nanavati then surrendered himself to the Indian...
Despite the home builders' gloom, a traditional spring surge in construction could quickly change the outlook. Says Housing Administrator Mason: "The money situation has definitely improved, and I expect a fairly rapid upswing two or three months from now in home building. It takes some time before builders find that money is more available and then translate that finding into new building plans and actual operation." As proof that many builders are bracing for the possibility of a spring upsurge, the Federal Housing Administration reported that applications for mortgage insurance on new loans rose 30% in February...
...Spring has come early to the U.S. labor force. The Labor Department reported last week that, contrary to the usual seasonal pattern, total U.S. employment in February rose by 500,000 to a record monthly high of 64,520,000. At the same time, unemployment, which usually changes little in February, dropped by 218,000 to 3,931,000, the greatest January-February decline since 1942. The improved job picture brought the seasonally adjusted rate of unemployment down to 4.8%, lowest since October 1957. Seymour L. Wolfbein, Labor Department manpower expert, foresaw further improvement during the next few months. Said...
...February production, reach 667,900 units, best March since the alltime high of 794,105 in 1955. The heavy production will leave the industry with its first million-car inventory of dealers' stocks, but the oversupply is a calculated buildup for what dealers hope will be a heavy spring demand...