Word: borrower
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Dates: during 1960-1969
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Stocks v. Bonds. Money is costlier to borrow now than it has ever been since the Depression, and the effects of that phenomenon on the market are tremendous. A promising market rally last week fell flat after Morgan Guaranty President Thomas Gates announced a boost in the prime rate to an alltime high of 5½% . That announcement hit at 2:15 p.m. on Thursday, March 10, and by closing time at 3:30 the New York Stock Exchange floor was still a scene of frantic selling activity. Within little more than an hour after Morgan Guaranty's pattern...
...past, the corporation has had to borrow money from commercial banks on behalf of the various agencies...
...NDEA has helped hundreds of thousands of college students for whom this very expensive four-year proposition would have been impossible. NDEA, if the experience of Harvard students is any indication, has been a dependable, easily accessible source of money. Graduate and undergraduate students may now borrow up to $1000 a year interest free while they are in school; after graduation, they begin to repay the principal and pay interest at three per cent...
...abiding quandary is financial. New York, the world's wealthiest city, has to borrow to meet its $4 billion annual budget, last week was contemplating a whole new set of taxes (see U.S. BUSINESS). Yet, as Weaver points out, "if you start talking about putting on extra taxes, you may further accentuate the trend toward businesses leaving the central city and make its financial plight even worse than it was before. The whole notion that the city can lift itself by its own bootstraps is a snare and a delusion." Thus cities have no recourse...
...Peace Corps has a loan fund for ATP enrollees to help cover the loss of income otherwise gained from summer employment. Trainees may borrow up to $600 at low interest rates to pay expenses during their final year in school...