Word: bank
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Dates: during 1950-1959
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Organizing a weekend "gypsy tour" to the tiny California mining town of Angels Camp (pop. 1,163), the Northern California chapter of the American Motorcycle Association won eager support from the Angels Camp Lions Club and police. The Lions agreed to sponsor A.M.A. races, borrowed $1,000 from the bank to pay advance costs. The police department increased its force from two officers to eight after warnings that motorcycle hoodlums sometimes dog the A.M.A. riders, sometimes get violent. (Ten years ago they almost wrecked nearby Hollister, Calif, during a three-day beer and battle orgy.) One day last week...
...full field kit and mottled grey-green camouflage battle dress, 28 men of West Germany's 19th Airborne Battalion marched through heavy spring rains one morning last week to the bank of the deceptively calm Iller River, just outside the Swabian city of Kempten. Commanding the platoon was a tough but well-liked Stabsoberjäger (staff sergeant) named Peter Julitz, 24. At the river's edge Platoon Leader Julitz made a quick decision: "We're going to ford the river," he told his men. "In battle, the bridge might be out, and we'd have...
...admits: "Although I have a deep inner peace, I have an exterior fear before every program and get perspiration on my palms." Will he continue in TV after his costly ($270,000), four-week stint for ABC? "If we can get some institutional sponsors, such as a bank or steel company. And if I can find more of an inner sense of direction toward the medium-that is, get a green light from the Lord...
...squeeze on money, which many experts had hoped would start easing soon, got tighter last week. The Treasury's interest rate on 90-day notes rose to 3.374%, the highest since the 1933 bank holiday. The rate on short-term commercial loans also rose to the highest in nearly a quarter-century: four-to-six-month notes of the nation's leading corporation borrowers carried ah interest rate of 3.75%. Said a Wall Street bond dealer: "Money is so tight it squeaks...
...interest rates rose, Wall Street wondered whether the Federal Reserve System would raise its 3% rediscount rate, which for some time has been less than the short-term borrowing rate the Treasury pays. Ordinarily the Fed raises the rediscount rate to prevent "riding the rate," i.e., a member bank borrowing from the Fed to have more funds for lending at a higher rate. But member-bank borrowing last week averaged $888 million, up only $5,000,000 from the week before. Since there was no evidence that banks were riding the rate, best guess was that the Fed would...