Word: bond
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Dates: during 1950-1959
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Today, under Horace Mann Bond, its first Negro president, Lincoln spreads out over 275 acres of campus, farm and woodland. Its 15 buildings are an architectural assortment ("You might call them Honest Redbrick or Grotesque Style," says one professor), but they house a first-rate liberal-arts college as well as one of the top Negro seminaries. Though Lincoln has no other professional schools, its alumni account for 17% of U.S. Negro doctors and scientists and 10% of U.S. Negro lawyers. Its graduates have served in twelve state legislatures, been U.S. Ministers to Haiti, Santo Domingo and Liberia. One alumnus...
...fund-raising program. Ultimate goal: 1,000 students. But more and more Lincoln hopes that its students will be both white and foreign. After 100 years the university has come to the conclusion that the "Negro school" is obsolete. "The need today," says President Bond, "is far greater. It is worldwide understanding based on the concept of brotherhood. Nowhere is there a university designed and equipped [so well] to make this ambitious aim a reality...
From then on, their percentage began to drop slightly, but the only major change was in their composition. Public utilities and industrials which once dominated the bond total were slowly replaced by U.S. Governments in 1942. Today, bonds--half of which are U.S. Government--comprise about 44 percent of the University's investment total...
...University has a special contract with the Trust Co., which keeps Harvard's securities in its vaults as well as collecting dividends and clipping coupons for the busy Treasurer. The latter job, by the way, undoubtedly involves countless man-hours, for the current market value of the school's bond portfolio approximates...
...production dropped 18% and unemployment rose to 4,700,000, or more than 7% of the labor force (v. 5.8% today), the Truman Administration did nothing about public works. Instead, it took antirecession steps similar to those now taken by the Republicans. It cut bank reserve requirements, pegged U.S. bond prices to keep interest rates low, removed consumer credit controls. The budget, which had been running a surplus, began to run a deficit as tax receipts fell off. But industrial production did not start rising until a few months later...