Word: bond
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Dates: during 1960-1969
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...under violent attack, not from the right but from the radicals of the New Left. Last week an organization called the National Conference for New Politics set up shop in New York, Washington and Los Angeles under the leadership of a couple of acidulous Viet Nam critics-Julian Bond, 26, the Georgia Negro who was twice denied a seat in the state legislature after voicing his admiration of draft-card burners, and Simon Casady, 57, who was bounced as president of the California Democratic Council after expressing a similar viewpoint. The group hopes to raise $500,000 to support "carefully...
...Bond Honored, British Playwright John Osborne's tumid adaptation of an atrocious horror show by 17th century Spaniard Lope de Vega, has a hero who commits rape, murder, treason, multiple incest and matricide, and blinds his father-after which he is crucified in precise imitation of Christ. London's critics cast one look at the tasteless mayhem at the Old Vic and held their noses. Whereupon Osborne, 36, flipped his Angry Aging Man's lid, firing off telegrams to the London papers. Osborne declared an end to his "gentleman's agreement to ignore puny theater critics...
...class, defined as any class of society which has its decisions legislated for them. The New Leftist can thus sympathize with other underprivileged groups, such as Negroes or unemployed workers, who, in the SDS view, have not taken full advantage of their political rights. The students see a common bond with such groups which the groups themselves often do not share. An SDS expedition to organize the meatpackers in Haymarket Square against the Vietnam war found themselves harassed and jeered by the workers. "So that's the proletariat," one student commented on his way back to Cambridge...
...soaring interest rates, which lately have gone to 6½% to 7%. The climb has been so swift, in fact, that at least nine of the last 24 U.S. corporate issues were selling below their offering price last week. Among Continental underwriters, the current morose joke goes: "Playing the bond market is no longer speculation because you're bound to lose...
...keep the interest bite as small as possible, an increasing number of U.S. companies have sweetened their bond offerings by making them convertible to common stock. Last week Bankers' Trust paid only 5% for 20-year debentures, and International Utilities' 20-year bonds came out at 5¼ because they can be swapped later for common shares. Conversions water down the value of shares owned by existing stockholders, but the average 1% that borrowing firms save on the interest rate can mean a $4,000,000 saving over the 20-year life of $20 million of bonds...