Word: borrowings
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...more checks on credit and industrial expansion. With a flourish of his pen FRB Chairman William McChesney Martin Jr. okayed, for the fifth time in a year, an increase in the discount rate for eleven of FRB's twelve district banks, thus making it more expensive to borrow money...
...despite this situation, the student holding a scholarship is supported in a state little short of luxury, forced to earn only $300 a summer, and take either a $300 job or loan during the academic year. When other deserving students are forced to earn or borrow their entire upkeep, it seems the College can ill-afford such generosity. While raising the amount of work and loans required of scholarship students would undoubtedly hurt their economic and intellectual status, the harm done would hardly be comparable to the benefits given the Group V or VI student who could receive at least...
...complete supplementary library of assignments held on reserve in Lamont. This collection, Librarian Philip J. McNiff understandably feels, would be the responsibility and the expense of the Music Department itself. If Lamont did establish a Music I record library, it would provide freshmen with their first opportunity to borrow College records for private use. House libraries are useful for Music I only in varying degrees, depending on the whim of library committees...
...been diverted to the budgeteer, only $25 to creditors. There are other sharp practices. The Federal Grand Jury in Chicago last year indicted a debt-pool outfit which assessed customers a $75 "survey charge," then sent them next door to a loan company to borrow the $75. Another Chicago pooler would collect his fee, make a few payments, then recommend that his client go into bankruptcy, steering him to a fee-splitting lawyer. In Seattle a truck driver who got behind in his payments to the prorater found that the agency had changed hats. It began working as a collection...
...Beaverbrook reserved his most telling comeback for the section Driberg devoted to some of the old man's endearing qualities. One of the Beaver's newsmen urgently needed ?1,000, the biographer recounted. He asked Beaverbrook if he could borrow the sum and repay it out of salary. Next day the general manager summoned the journalist and told him that there was a strict office rule against such advances. "But," he added, "Lord Beaverbrook has instructed me to make you a free gift of ?1,000. Here is a check." Biographer Driberg praised this act of kindness...