Word: bond
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Dates: during 1950-1959
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Mather brought in dynamic new deans and professors, reorganized the school, nearly doubled the operating budget, launched an $11 million bond issue for new dormitories, got $26 million in appropriations for new classrooms and equipment-three times the school's total capital spending in the 91 years before Mather took office. Enrollment rose from 4,091 to some 6,000 this fall, with 10,000 expected...
...Governor, Patterson had to raise money for his state: he went to New York, worked out financing details on a $60 million state bond issue with Lehman Bros., the famed Manhattan international banking house. Because the Lehmans are Jews, Governor Patterson's dealings aroused Alabama's anti-Semites. In June, Patterson spoke to the state legislature, expressed sentiments that seemed heresy to Alabama's rabid segregationists. Said he: "We cannot afford to crawl back into a hole as far as public education is concerned." On a trip to Washington, Patterson met Massachusetts' Senator John Kennedy, whom...
...gasoline tax, changed its mind; it approved a 1? hike to 4? a gallon, effective for 22 months from Sept. 1 to June 30, 1961. The lopsided vote (16 to 9) marked a partial victory for the Administration; it has championed a fiveyear, 1½? boost, bucked a congressional bond-floating plan that would have added huge interest charges, increased vastly the cost of the program. Both Congress and the Administration are expected to accept the Ways & Means compromise...
...BOND-BILL COMPROMISE stands little chance of approval by House as key Democrats oppose bill allowing President to raise 4.25% interest-rate ceiling on long-term bonds and 3.26% rate on savings bonds...
...YUGOSLAV BOND PAYMENTS on $25 million worth of dollar bonds, in default since 1939, will begin soon with $500,000 annual payments under "temporary arrangement." Yugoslavia seeks to restore its credit rating so it can borrow privately in U.S. money market...