Word: bond
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Dates: during 1950-1959
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Then the group tipped its plan to the public: for $22.5 million, the city could build a 233-mile aqueduct from Owens Valley. The voters overwhelmingly approved a bond issue to pay for it. In 1913 the aqueduct was completed, spilled its water into the "vast stubble field" of the San Fernando Valley*-and to ensure the promise that the water would reach Los Angeles, the little city annexed the valley. In the years that followed, the Owens Valley dried out, San Fernando bloomed, and Los Angeles, which still gets 69% of its water from the aqueduct, crept beyond...
...community-backed convalescent home, and 4) denounced the city council's plans to replace a 50-year-old public library. The News's editorials on the library issue finally jolted civic leaders into counterattacking with a community-wide drive to put over an $880,000 library bond issue...
...November election, 92% of Lima's registered voters trooped to the polls and approved the project by the biggest majority (76%) ever given a bond issue in the city's history. Next day a parking meter outside the News sprouted a sign: HOILES, GO HOME! Said Laurence H. Larsen, executive vice president of Superior Coach Co.: "Everything possible has been done to alienate every single group in town since Hoiles took over. They couldn't have done a better job of it if they had planned it this...
...their part, many businessmen became wedded to the idea of a continually expanding economy. Under such circumstances-and with money tight-they decided on a long-term policy of financing more of this continuous expansion out of profits instead of through stock and bond issues. Disregarding temporary conditions of supply and demand, they began to set what Senator Kefauver and economists such as Edwin Nourse, ex-chairman of the President's Council of Economic Advisers, call "administered prices"-prices that are set to achieve a predetermined profit level that will defray not only wage increases but also most...
...make long-term Government bonds more attractive, some bankers think that the Treasury should boost its rates more in line with the market level. While some financial men fear that such a move would demoralize the entire Government bond market by depressing lower-paying issues, others argue that the Treasury needs strong medicine to solve its problems. Still another idea is to float a convertible bond. The U.S. Treasury could issue a convertible bond at 4% interest, for example, give investors the option of either cashing it in after one year, or of converting it into a longterm, twelve-year...