Word: buying
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Dates: during 1960-1969
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...time he died last October at 61, he had spent $1,500,000. Now it belongs to Chicago's private Newberry Library, which shelled out $2,750,000 to get it from his estate. That upsets the rare-book-hungry University of Texas, which had agreed to buy the collection for the same price five months ago. But Texas' lawyers had been haggling over details, and interest on that kind of money mounts up. That's when the Newberry came along. Crowed Library Vice President Hermon Dunlap Smith, who engineered the coup: "It's the greatest...
Companies buy Government securities in order to put their money to work and nail down safe interest rates; people buy them either to collect the interest or to speculate on the fluctuating prices of bonds, which move around in a range just above or below par value. Another attraction is that low margin requirements permit an investor to buy $100,000 worth of Government securities by putting down as little as $5,000 cash; if the bond's value rises just one-half point, he earns $500. Bond dealers are made or broken by their ability to predict instinctively...
Access to Power. Wall Street's grapevine brought word of their search to the tenth-floor corner office of Merrill Lynch's chairman, Michael W. McCarthy. He and Merrill Lynch's directors made a unique proposal to Devine's partners: Why not buy up a large chunk of Merrill Lynch's undistributed stock and join the company? After a fortnight of secret negotiations, the two houses agreed on Wall Street's biggest deal this year. Thirteen of the Devine partners anted up $8,000,000 and were taken into Merrill Lynch as a division...
Jarvis, who speaks excellent Spanish, pushed company efforts to break up the compounds and help the workers buy homes in regular communities. He has also expanded the operations of the company's Creole Foundation, which helps build schools and train teachers in Venezuela, and established the Creole Investment Corp. to provide seed capital for deserving small businesses. In three years, C.I.C. has invested $5,300,000 in 22 small companies, ranging from a mushroom farm to a sugar refinery, has helped create 1,500 new jobs. Said Jarvis at the company's annual meeting in Manhattan last week...
...world's second largest exporter (after South Africa), the big influx of Communist gold has failed to upset the West. Actually, the Soviet gold is welcomed by the U.S. Federal Reserve and European central banks, which have formed a consortium-called the London gold pool-to buy up gold as it comes on the market. Reason: the new supply of Soviet gold has eased the West's acute gold shortage and helped stabilize the free market price of gold at very near the official U.S. price of $35 per ounce. The Soviet gold has not only eased...