Word: borrowings
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Dates: during 1950-1959
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...founders financially crippled by crash and hurricane, the university opened with a $500,000 debt. Its great administration building remained only a skeleton; its one usable building was an abandoned, half-finished hotel, which was fixed up with beaverboard partitions to accommodate classes. President Ashe himself had to borrow on his own insurance policies to help pay professors' salaries, and Zoologist Pearson had to build his own laboratory tables. The whole campus seemed so shaky, in fact, that it became known throughout the U.S. as "Cardboard College...
...commercial atomic power in the U.S. by imposing a tight Government monopoly on fissionable materials and nuclear reactors. Last week the Atomic Energy Commission announced that it would soon ask Congress to loosen the Government's grip. AEC wants to let private companies: 1) buy, lease or borrow fissionable materials from AEC; 2) design, build and operate nuclear reactors...
...Seeking a long-term cure for its acute doctor shortage (seven counties have none at all), Georgia joined the ranks of states offering substantial aid to medical students. Up to 14 students may now borrow up to $1,500 apiece from the state in each school year. For every year they practice in a rural area or small town (pop. 5,000 or less), Georgia will lop $1,000 off their loan...
...next few years brought Dawes a son and daughter, success as a lawyer, choice property purchases, and a directorship of the leading Lincoln bank. When the panic of '93 struck, no depositor of the Lincoln bank lost a dime, but Dawes had to borrow $200,000 to keep the bank afloat...
This year's review was a fact-crammed report of changes, innovations and TIME's coverage of the big news stories of 1952. I have written you about some of them in this space, but I would like to borrow from this recent issue of f.y.i. to give you a more complete report on TIME...