Word: bank
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Dates: during 1950-1959
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Real poetry was not a part of "Wullie" Service's spirit, or his life. Even as an English-born bank clerk in Glasgow, he dashed off doggerel for the weeklies, and burned with an adventurer's ambition to make a million dollars, write 1,000 poems, and live for a century. In hot pursuit of these ends, he hopped a freighter to Canada in 1895, a ruddy-faced, guitar-playing, wind-drifted 21-year-old fiddle-foot with a Scottish burr. He worked anywhere, at anything-swilling swine in British Columbia, tending roses...
Dangerous Dan. Lady Luck, who smiled on so many fortune seekers in the Yukon gold fields, smiled there too on Wullie Service. Behind his bank teller's cage one frozen night in White Horse, he knocked out a raw, rollicking ballad called The Shooting of Dan McGrew, modestly tucked it away in his shirt drawer, months later, in 1907, sent it to a Toronto publisher of church hymnals with a slender assortment of other sourdough rhymes. The story goes that the typesetters swung into a dance as they locked it in the forms...
...collection or another, Dangerous Dan grossed its author half a million dollars; and another early Service ballad, The Cremation of Sam McGee, earned such widespread prominence that its real-life namesake (whose name Service casually lifted from a bank ledger) spent all the remaining days of his life parrying the question: "Is it warm enough...
With such proof of recovery before it, the FRB last week continued tightening credit, gave the New York, Cleveland, Richmond and St. Louis Federal Reserve Banks permission to up the discount rate from 1¼% to 2%, continuing the upward move initiated by the San Francisco Reserve Bank (TIME, Aug. 25). The earlier rises brought no change in the prime rate (i.e., the interest charged customers with blue-chip credit), which is set by New York banks that make 20% of bank loans to business. But as soon as the New York Federal Reserve Bank raised its discount rate...
Despite such notes of cheer, the Federal Reserve Bank of New York, which has frequently disagreed with the economic views of the FRB, remained cautious. While recovery is undoubtedly under way, said the New York bank, the vigor and steadiness of the uptrend is still uncertain...