Word: bond
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Dates: during 1960-1969
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...HOUSTON SYMPHONY has come a long way from the days when it played Old Black Joe for encores and accompanied a wrestling match at a war-bond rally. The secret of the Houston's success today is Sir John Barbirolli, 66, whose solid musicianship, gained during a long career as conductor of such ensembles as the New York Philharmonic and Britain's Hallé Orchestra, compensates mightily for the lack of depth in his players. Mindful that attendance had skidded with the modernist programming of Leopold Stokowski (1955-61), Barbirolli plays it safe and sticks close...
Reverse Chauvinism. On the other side of the coin, no special restrictions stand in the way of direct French investment in U.S. firms, which now stands close to $200 million, plus at least $1 billion worth of stock-and-bond holdings. State-controlled Compagnie Francaise des Petroles, the ninth largest oil company in the world, has just bought one-third of Leonard Refineries, Inc., a Michigan-based independent oil company with 800 retail outlets and 1,200 miles of pipeline, as an entering wedge into the rich U.S. market. Petroles plays the game with some reverse chauvinism based...
...Methodists, 54 Lutherans, 40 Baptists, 31 Presbyterians, 25 Episcopalians) seasoned with 17 Roman Catholics, four Jews and a solitary Buddhist. Characteristically, they put their theological studies ahead of formal religion; Professor Joseph Sittler mournfully notes that there are seldom more than 20 to 30 students at midweek services in Bond Chapel...
...effort to borrow before interest rates went even higher turned into a scramble. Many of the new offerings paid interest rates higher than at any time since the 1920s. The Federal National Mortgage Association came in for a controversial $410 million. Cash-short corporations borrowed $226 million through bond issues, and municipalities tapped the market for another $112 million...
Impossible Volume. It is just as well. There has never been a year when so many people wanted to borrow so much money-more, in fact, than the stock and bond markets or banks seem likely to supply. "There will have to be more disappointments and cancellations," predicts Bond Analyst Sidney Homer, a partner in Manhattan's Salomon Brothers & Hutzler. "The $68.5 billion volume of proposed financing is impossibly large...