Word: auction
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Dates: during 1970-1979
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...good as gold; later the U.S. Government would not sell it to anyone. Last week, though, the Treasury announced plans more in line with its current belief that gold has become a mere commodity. On Jan. 6 it will sell 2 million ounces of the glittery stuff at public auction to any purchasers, American or foreign, who care to submit sealed bids. That is only a minor part of the Treasury's total hoard of 276 million ounces but still nearly equals the amount now traded on all the world's gold markets in any single week...
...auction will take place six days after individual American investors are freed by law to buy gold bullion for the first time in almost 41 years. (Federal Reserve Chairman Arthur Burns last week urged that permission be delayed six months, because he fears that people will pull money out of savings accounts and stocks to buy gold, but Congress probably will make no change.) Not many individuals are likely to bid at the Treasury auction: the gold will be sold only in the form of 400-oz. bars, worth at current free-market prices about $70,000 each...
...gold itself). Come Jan. 1, Americans will also be offered gold-warehouse receipts and shares in mutual funds that will buy bullion. They may even get a chance to buy some more gold from Uncle Sam. Treasury Secretary William Simon said last week that after the initial auction Jan. 6, the Government is considering later auctions of gold in bars smaller than...
...have seen a Negro woman sold upon the block at auction. I was walking. The woman on the block overtopped the crowd. I felt faint, seasick...The woman was a bright mulatto, with a pleasant face. She was magnificently gotten up in silks and satins. She seemed delighted with it all; sometimes ogling the bidders, sometimes looking quite coy and modest; but her mouth never relaxed from its expanded grin of excitement. I dare say the poor thing knew who would buy her. My very soul sickened. It was too dreadful. I tried to reason. 'You know how women sell...
...grounds that the oil producers are part of the Western economic system and they could not profit by bankrupting their customers. After conferences with King Faisal, Treasury Secretary William Simon returned from Jidda two months ago with encouraging news: the Saudis in August would hold an auction that would let the market set lower prices. The auction was canceled, which led some U.S. cynics to accuse the Saudis of double-dealing...