Word: 17c
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Dates: during 1970-1979
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...time and the credit pinch intensifies, much more serious strains on the economy could result. Already the cash ratio-money available compared with debt-of U.S. corporations is down to its lowest level since World War II at least. In this year's first quarter, corporations had only 17c in cash for each $1 of current debt, a drop of 3? from the end of 1972. As yet, no bankruptcies as spectacular as the 1970 crash of the Penn Central are in sight; but if the squeeze continues, even big companies could have trouble paying their bills...