Word: borrowings
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Dates: during 1960-1969
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...Should the painting increase in its market value in the interim, the difference can also be deducted from income tax as a charitable contribution. Meanwhile, the painting will hang in the museum. Except, of course, for the times that shareholders in Art Appreciation, Inc., see fit to borrow it in turn in order to appreciate their masterpiece in their own living rooms...
More than $1.5 billion of debt securities surged onto the nation's financial markets last week, as the 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...
...whom resent the Group of Ten as a white rich men's club trying to dictate monetary reform to the rest of the world. They not only want the 103-member International Monetary Fund to control the issuance of new reserves, but also demand vastly increased rights to borrow from the IMF to cover their recurrent financial difficulties. Continental countries, however, regard such a system as potentially inflationary and therefore a dangerous plaything in the hands of countries prone to mismanaging their own economies. There, at week's end, the impasse lay-with solutions farther out of reach...
Drifting Dude. At one time or another, Harte partially earned many of the opprobrious epithets that Mark Twain hurled his way. He was quite capable of snubbing friends on the street -and equally capable of showing up just at dinnertime to borrow two quarts of whisky and a room to finish them in while knocking out a short story. "If he ever repaid a loan," grumbled Twain, who was himself touched for several thousand dollars, "the incident failed to pass into history...