Word: bootlegs
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Dates: during 1930-1939
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...Loans for the account of "others." Last week this third item, amounting to $162,000,000, disappeared from the money market in Wall Street. The Clearing House forbade its members handling these so-called "bootleg" loans. The money market, warned the week before of the impending change, held steady; the official renewal rate of 2% remained unchanged. The anonymous "others" who loaned their money in Wall Street were corporations and individuals with surplus cash anxious to place their money with absolute safety where it could be withdrawn at a moment's notice yet draw interest by the day, often...
...practice was criticized by conservatives, disliked by the banks. The money market, said conservatives, was too dependent on nonbanking money. Banks saw their own field invaded, a source of big profit for them in the hands of "others." During the stockmarket panic of 1929 conservatives felt justified as the "bootleg" loans tumbled from $3,907,000,000 on Oct. 2 to $1,548,000,000 at the end of December. Loans by banks fell $1,021,000,000 in this time, would have been more had they not been forced to close the gap left open by the panicky withdrawal...
...take my religion straight and oldfashioned. But perhaps Mrs. Blaisdell (TIME, Oct. 26) by her white ribbon Prohibition of religion may be doing more good. Can't you see this "Blaisdell Act" producing bootleg worship? I can well imagine these children, who are to be so carefully shielded from any reference to a higher power, turning into every church they pass for a surreptitious prayer. Perhaps contraband worship is just what the churches need to make them full to overflowing with this intense younger generation. If this be true, I say more power to Mrs. Blaisdell...
...prowling Federal searchlight stopped to glare at 16 corporations, 36 individuals. The most glaring searchlight of its kind ever to be directed against big U. S. businesses, it challenged them for conspiring to divert industrial alcohol into bootleg alcohol...
...plan last week. The Government, having switched from cards to stores, raised most prices 50%. This may or may not choke off the expected rush of buyers. If it seems to choke too hard, the State will prevent strangulation by lowering prices. German banks, who do a little bootleg business in rubles,* reported last year that they were getting batches of Soviet banknotes all bearing the same serial number. Naturally the holder of U. S. Treasury silver certificate number M71525894A entitling him to one silver dollar, hopes that nobody else has a bill of the same number entitling them...