Time Clock, Jun. 8, 1953

DESPITE the furor over the $5 billion cut in the Air Force budget, planemakers are not worried—yet. Not only has there been no warning of contract cancellations among the old-line companies, but Boeing expects to hire another 1,600 workers this summer, mainly for B-52 production. North American is keeping up its fast pace on F-86 Sabre jets; Lockheed expects that "production will continue at its present high level for some time." The planemakers even hope that a revision may stabilize plane building and avert drastic cuts a few years hence.

WALL Street's description of the current stock market: the "horse market."Derivation: neither...

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