Word: boarding
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Dates: during 1960-1969
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...Create a top-level Board of Environmental Quality Advisers in the executive branch - 25 or 30 leading experts who would develop new policies, criticize existing programs and advise the President directly...
During his six years at Vanderbilt, Heard has sought greater student and faculty involvement in governing the university, and this year added recent graduates to the board of trustees. He has strengthened the teaching of sciences and created the rank of "distinguished professor," a device that allows the university to exceed authorized salaries to attract better teachers. Taking a strong stand against segregation, he has worked to increase black enrollment (103 out of 6,000). He shows a thoughtful understanding of student dissent and told a group of Memphis businessmen this year that sending in police is bad because...
...says Goodyear Chairman Russell DeYoung. "But next year we'll be looking at all our proposed projects with more caution. Possibly outlay will be down." Adds a Firestone official: "Some cutbacks are likely next year." Demand for business loans has begun to taper. The Federal Reserve Board last week announced that loans at major banks declined in July for two weeks, dropping by $262 million to $78.3 billion. One consequence is that interest rates are beginning to lessen, if ever so slightly. A string of three big recent bond issues -Weyerhaeuser, National Cash and Dow Chemical-all sold...
...some brokers and bankers to make margin calls, and it is even pinching a number of big firms. As it scurried to raise new funds to meet New York Stock Exchange capital requirements, McDonnell & Co. went so far as to sell one of its three seats on the Big Board. The sale brought only $375,000, which represented a $140,000 drop in seat prices since April. Other Wall Street firms that have had capital difficulties include Nuveen and First Hanover Corp...
...this year bears a chilling similarity to the 1966 plunge, when the index declined 25% from February to October. Could history repeat? Both market slides began with worries about overspeculation and increases in bank interest rates. There are, however, important differences. In both 1966 and 1969, the Federal Reserve Board tried to control the expansion of credit by restricting the money supply. But in 1966, the board moved clumsily, swerving at midyear from monetary expansion at a 6% yearly rate to contraction at a 2% rate. Credit evaporated, investor buying power disappeared, and stocks collapsed. This year the money supply...