Blood flow changes in the heart and lungs
Apgar's newborn scoring system seems clearly associated with the vogue of  
early clamping of the umbilical cord -- done with the aim of transferring the
infant to a specialist and maintaining a sterile field for prompt suturing of
incisions made for episiotomy or Caesarean delivery.  Meanwhile, advocates
of what Apgar referred to as "slow birth" continued a long tradition of
measuring the amount of placental blood an infant got if the cord was left
unclamped until pulsations in it ceased.
Pulsations continue as long as the valves in the infant's heart direct blood to
the placenta through the umbilical arteries, and cease when pulmonary
respiration is fully established with closure of the foramen ovale  and ductus
arteriosus in the heart (Dawes et al. 1953).
Changes in circulation through the heart and lungs were determined in
newborn lambs.  These experiments did involve "tying the cord," which might
explain the finding of a pattern of "neonatal circulation" intermediate between
that of the fetus and that of the adult.  Born et al. (1954) found the ductus
arteriosus begins to close within 5 to 15 minutes of pulmonary ventilation with
continuing constriction for several minutes, but remained partially patent for
12 hours or more.  The foramen ovale, on the other hand, closes within a
minute following birth, forcing circulation to the lungs.