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The First Time News Was Fit To Print, IX

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More old news from the Times archives. As always, we've found people, places and things with first mentions worth mentioning.

Hedge Fund

November 26, 1966
A Mutual Fund That Is Unusual
The Hubshman Fund, described as the first mutual fund offered to the public that will employ both hedging and leveraging principles, is scheduled to begin operating today.
* * * * *
The Hubshman Fund, with headquarters at 350 Park Avenue, is modeled after one of Wall Street's little known but profitable vehicles for private investors "“ the hedge fund.

These hedge funds are limited partnerships, as contrasted to mutual funds that are open to the public. Typical partners of hedge funds include sophisticated businessmen and families of wealth who are attracted by the principle of making money in the stock market by taking both long and short positions.

John Updike

March 2, 1958

The Magic World Of Words
updike.jpg What influences a child's sensitivity to language, to choice of words, to color, to tempo, to construction? There may be innate differences in this sphere just as there are in music and visual art. Whether for biological or cultural reasons, girls and women, generally, are more skillful "“ and certainly more prodigal "“ with words than are boys and men. Allowing for individual differences, though, what can parents do to nurture, or at least not to destroy, the young child's gift for language?

We took this question up with...John Updike, who to our mind is one of the most skillful and versatile young artists we've read. As for specifics, Mr. Updike said: "When children are picking up words with rapidity, between two and three, say, tell them the true word for something, even if it is fairly abstruse and long. A long correct word is exciting to a child. Makes them laugh; my daughter never says rhinoceros without laughing. Also around this time, puns are popular. A child sees the humor of nonsense."

Still to come: Silicon Valley, White Collar Crime, Web 2.0, Big John Studd and more.

Silicon Valley

January 16, 1975

New Markets Are Sought For Miniaturized Computers
pirates-of-silicon-valley.jpgThe United States electronic industry has developed circuitry so miniaturized that it is pushing to install many computer functions in such things as automobiles, gasoline pumps, traffic signals and supermarket cash registers. This development is expected, within a few years, to give computer technology more impact on daily life than it has today, when computer circuitry in consumer products is limited to pocket calculators, digital watches and some cameras.
* * * * *
The buildings of Intel were put up on a former citrus orchard. Santa Clara south of San Francisco Bay next to San Jose, is in the heart of what those in the electronics industry call "Silicon Valley" because so many makers of semiconductors are here.

White Collar Crime

December 28, 1939
Dr. Sutherland Says The Cost Of Duplicity In High Places Exceeds Burglary Losses
"White-collar criminality" was sharply attacked by the retiring president of the American Sociological Society, Dr. Edwin H. Sutherland of Indiana University, in an address tonight which discarded accepted conceptions and explanations of crime.

Speaking at a joint session of that society...Dr. Sutherland described present-day white collar criminals as "more suave and deceptive" than last century's "robber barons" and asserted that "in many periods more important crime news may be found on the financial pages of newspapers than on the front pages."

Energizer Bunny

October 23, 1989
Amid TV's Ad Clutter, A Rabbit Runs Wild
energizer.jpgRight from the start, the new commercial for Eveready's Energizer batteries does not look like the run-of-the-mill television ad. The star of the whimsical campaign is a bright pink toy bunny wearing Ray-Ban sunglasses and blue thongs. Banging a big bass drum as it struts around the set, the mechanical rabbit suddenly runs amok and marches out of the sound studio's doors.

But unsuspecting viewers watching when the spot made its debut last week were in for an even bigger surprise. Halfway through what appears to be a coffee commercial that shows two women quietly chatting, the runaway rabbit pops up and creates havoc as it tramps across the table.

Then, just when it seems safe to go back to ignoring commercials, the Energizer bunny charges through the laboratory setting of a spot for a nasal spray. Startled viewers were left wondering when the marauding rabbit would turn up next.

Web 2.0

August 14, 2000

As Innovation Lags Behind And The Mainstream Moves In, Net Entrepreneurs Look For Ways Out
"We're burned out," Ms. Harmel said, speaking of Net entrepreneurs of a certain level of experience and fatigue. "Some of us are tired and rich. Some of us are tired and not rich. But we're all tired."

Data on this topic are scarce, but anecdotal evidence suggests that a changing of the guard is under way in the Internet industry, as the early proponents of the Web are stepping aside for the mainstream business people who have migrated to the new medium. Such a cultural shift was to be expected, given how the Web itself has become a mainstream phenomenon. But analysts say the executive shift could have broad implications for e-commerce.

"Call this Web 2.0," said Clay Shirky, a partner at Accelerator Group, a consulting firm that works with Web start-ups, who has worked in the Internet industry since 1993. "This has been going on slowly, and now people are realizing the landscape has changed without us having caught onto it."

Post-it Notes

August 30, 1981

Some Practical Gadgets To Keep In The Bag
post-it.jpg Post-It Notes are another member of this family. In this case, however, the adhesive is to be found in a narrow stripe along one edge of the back of pieces of note paper. The notes, available in various size sheets, come in the form of handy pads. Merely jot a note to yourself or someone else, lift the note from the pad and touch it to the wall, door, film box, photo paper box, or other surface. The note will stick to almost any surface and can be removed without doing harm to painted walls or any other delicate finishes.

Big John Studd

December 22, 1983
Fitness Offerings
studd.jpgEarlier this month President Reagan gave Parade Magazine, the Sunday newspaper supplement, an exclusive story on how he keeps fit. Included in the article over the President's byline was an exhortation to Americans to follow his example and take up, among other exercises, weight lifting.

So far, according to the White House press office, there "hasn't been a large response." But among the early respondents were several people apparently seeking indirect White House endorsement of their exercise products.

Spalding, the company that gave the nation the high-bounce pink rubber ball sometimes called the Spaldeen, has offered the President the free use of Power Rings, a weight-lifting device that retails for $109. And Big John Studd, a professional wrestler who says he is the only man to have body-slammed Andre the Great, has asked the Reagan re-election committee to give the President his own exercise contraption, which is a bicycle handlebar affixed to a wagon wheel.

Here are some of the topics featured in previous installments of this series:

"¢ Volume I: The Simpsons, Barack Obama, iPod and Microsoft
"¢ Volume II: Donald Trump, Starbucks, Global Warming and Wikipedia
"¢ Volume III: JFK, The Smurfs, the Internet
"¢ Volume IV: Larry David, Ulysses S. Grant, VCRs
"¢ Volume V: Walkman, Osama bin Laden, Pearl Jam
"¢ Volume VI: Times Square, Marijuana, Googling
"¢ Volume VII: Kobe Bryant, Apartheid, Gatorade
"¢ Volume VIII: Bob Dylan, Barbie, War on Terror

T.jpgWant complete access to The New York Times archives, which go all the way back to 1851? Become an NYT subscriber.

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Space
Google Street View Now Lets You Explore the International Space Station

Google Street View covers some amazing locations (Antarctica, the Grand Canyon, and Stonehenge, to name a few), but it’s taken until now for the tool to venture into the final frontier. As TechCrunch reports, you can now use Street View to explore the inside of the International Space Station.

The scenes, photographed by astronauts living on the ISS, include all 15 modules of the massive satellite. Viewers will be treated to true 360-degree views of the rooms and equipment onboard. Through the windows, you can see Earth from an astronaut's perspective and a SpaceX Dragon craft delivering supplies to the crew.

Because the imagery was captured in zero gravity, it’s easy to lose sense of your bearings. Get a taste of what ISS residents experience on a daily basis here.

[h/t TechCrunch]

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travel
6 East Coast Castles to Visit for a Fairy Tale Road Trip
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Lucy Quintanilla/iStock

Once the stuff of fairy tales and legends, a variety of former castles have been repurposed today as museums and event spaces. Enough of them dot the East Coast that you can plan a summer road trip to visit half a dozen in a week or two, starting in or near New York City. See our turrent-rich itinerary below.

STOP 1: BANNERMAN CASTLE // BEACON, NEW YORK

59 miles from New York City

The crumbling exterior of Bannerman Castle
Garrett Ziegler, Flickr // CC BY-NC-ND 2.0

Bannerman Castle can be found on its very own island in the Hudson River. Although the castle has fallen into ruins, the crumbling shell adds visual interest to the stunning Hudson Highlands views, and can be visited via walking or boat tours from May to October. The man who built the castle, Scottish immigrant Frank Bannerman, accumulated a fortune shortly after the Civil War in his Brooklyn store known as Bannerman’s. He eventually built the Scottish-style castle as both a residence and a military weapons storehouse starting in 1901. The island remained in his family until 1967, when it was given to the Taconic Park Commission; two years later it was partially destroyed by a mysterious fire, which led to its ruined appearance.

STOP 2. GILLETTE CASTLE STATE PARK // EAST HADDAM, CONNECTICUT

116 miles from Beacon, New York

William Gillette was an actor best known for playing Sherlock Holmes, which may have something to do with where he got the idea to install a series of hidden mirrors in his castle, using them to watch guests coming and going. The unusual-looking stone structure was built starting in 1914 on a chain of hills known as the Seven Sisters. Gillette designed many of the castle’s interior features (which feature a secret room), and also installed a railroad on the property so he could take his guests for rides. When he died in 1937 without designating any heirs, his will forbade the possession of his home by any "blithering sap-head who has no conception of where he is or with what surrounded.” The castle is now managed by the State of Connecticut as Gillette Castle State Park.

STOP 3. BELCOURT CASTLE // NEWPORT, RHODE ISLAND

74 miles from East Haddam, Connecticut

The exterior of Belcourt castle
Jenna Rose Robbins, Flickr // CC BY-SA 2.0

Prominent architect Richard Morris Hunt designed Belcourt Castle for congressman and socialite Oliver Belmont in 1891. Hunt was known for his ornate style, having designed the facade of the Metropolitan Museum of Art and the Breakers in Newport, Rhode Island, but Belmont had some unusual requests. He was less interested in a building that would entertain people and more in one that would allow him to spend time with his horses—the entire first floor was designed around a carriage room and stables. Despite its grand scale, there was only one bedroom. Construction cost $3.2 million in 1894, a figure of approximately $80 million today. But around the time it was finished, Belmont was hospitalized following a mugging. It took an entire year before he saw his completed mansion.

STOP 4. HAMMOND CASTLE MUSEUM // GLOUCESTER, MASSACHUSETTS

111 miles from Newport, Rhode Island

Part of the exterior of Hammond castle
Robert Linsdell, Wikimedia Commons // CC BY 2.0

Inventor John Hays Hammond Jr. built his medieval-style castle between 1926 and 1929 as both his home and a showcase for his historical artifacts. But Hammond was not only interested in recreating visions of the past; he also helped shape the future. The castle was home to the Hammond Research Corporation, from which Hammond produced over 400 patents and came up with the ideas for over 800 inventions, including remote control via radio waves—which earned him the title "the Father of Remote Control." Visitors can take a self-guided tour of many of the castle’s rooms, including the great hall, indoor courtyard, Renaissance dining room, guest bedrooms, inventions exhibit room, library, and kitchens.

STOP 5. BOLDT CASTLE // ALEXANDRIA BAY, THOUSAND ISLANDS, NEW YORK

430 miles from Gloucester, Massachusetts

It's a long drive from Gloucester and only accessible by water, but it's worth it. The German-style castle on Heart Island was built in 1900 by millionaire hotel magnate George C. Boldt, who created the extravagant structure as a summer dream home for his wife Louise. Sadly, she passed away just months before the place was completed. The heartbroken Boldt stopped construction, leaving the property empty for over 70 years. It's now in the midst of an extensive renovation, but the ballroom, library, and several bedrooms have been recreated, and the gardens feature thousands of plants.

STOP 6. FONTHILL CASTLE // DOYLESTOWN, PENNSYLVANIA

327 miles from Alexandria Bay, New York

Part of the exterior of Fonthill castle

In the mood for more castles? Head south to Doylestown, Pennsylvania, where Fonthill Castle was the home of the early 20th century American archeologist, anthropologist, and antiquarian Henry Chapman Mercer. Mercer was a man of many interests, including paleontology, tile-making, and architecture, and his interest in the latter led him to design Fonthill Castle as a place to display his colorful tile and print collection. The inspired home is notable for its Medieval, Gothic, and Byzantine architectural styles, and with 44 rooms, there's plenty of well-decorated nooks and crannies to explore.

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