Word: billioned
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Dates: during 1950-1959
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...economy's sturdiest pillars in 1958 got still another buttressing last week. To President Eisenhower went an anti-slump bill designed to pump up to $1.85 billion in Government funds into the housing market, already clipping along toward 1,050,000 new housing starts this year. Its goal: to raise the totals by another 100,000 houses, create 500,000 new jobs this year, and lay a solid floor under those sagging industries that lean heavily on home construction-appliances, lumber, transport...
...program, scheduled to be signed into law this week, aims its main help at the mortgage market, where tight money pinched builders last year. The Federal National Mortgage Association (Fannie Mae) will get $1 billion to buy FHA and Veterans Administration-insured mortgages up to $13,500 each at par (100%) value. Previously, Fannie Mae bought mortgages from lenders at discounts of 2% or 3% from par and found the market slim. Now, by fixing the price of FHA and VA paper at par, Fannie Mae expects lenders to sell more mortgages to the Government, thus unlocking...
FILTER-TIP SALES, up 42% last year, puffed cigarette industry to record 409.4 billion smokes in 1957 v. previous 394.1 billion high in 1952. Filters grabbed 40% of total market, should reach 45% this year...
MOTEL SURGE will lure more note's into $1.5 billion yearly business. Salt Lake City's rich, old (since 1911") Hotel Utah will soon complete West's biggest (154 units), costliest (about $3.5 million) motel within two blocks of hotel. Features: four plush "penthouses," swimming pool, underground auditorium with capacity...
...mountain snow for his royal ice cream in a state of slush, he executed the general in charge. When Baltimore Milkman Jacob Fussell first began mass-producing the ancient delicacy in 1851, he started a U.S. industry that today leads all the world. But though Americans down about 3 billion quarts of ice cream annually, the U.S. Government-unlike Nero-has never had any control over the quality of the industry's product. Last week the Food and Drug Administration finally issued a code to regulate everything from quality "French" to the "ice milk" sold at roadside stands...