Word: caa
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Dates: during 1930-1939
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...used to rate Aaa. Best municipal bonds are those in Massachusetts, where the State has power to reorganize the finances of weak municipalities and no city rates less than A. Among the worst are those of Florida, where Fort Myers and St. Augustine both rate Caa (poor) and the town of Frostproof rates Ca (one notch above worthless). Last week 500 delegates to the annual Conference of the Municipal Finance Officers' Association sat down in St. Paul's Hotel Lowry to investigate the whys & wherefores of such sorry ratings, learn how to steer a straighter course through Depression...
With no fuss, feathers, din or dither, U. S. aviation this week came completely under control of the new Civil Aeronautics Authority. Before that, it had been the concern of an assortment of Federal agencies. One of Washington's most sprawled-out bureaus, CAA took up its quarters partly in the Bureau of Air Commerce, partly in the Bureau of Air Mail, partly in rooms rented over Childs Restaurant on Pennsylvania Avenue...
Just before CAA took over, the Post Office Department had to award contracts for several new airmail lines. Average Government subsidy for carrying the mail, during the four years since airmail contracts have been subject to competitive bidding, has been about 17? a mile. But for the new routes, bids reached new lows. Reason: successful bidders were to get their franchises confirmed as long as "public convenience and necessity" demanded them, when CAA took over, and would consequently have places in line if or when CAA handed out a fatter subsidy...
...miles on the winding Thames from Putney to Mortlake. But for the last ten years, endless to Oxonians, the motley millions who roar from the banks of the river and from the big brewery windows, the tumultuous holiday crowd of picnickers, cheap-jacks, street musicians and acrobats have cheered "Caa-a-am-bridge!" as the light blue's eight-legged scorpion came skating over the water in a series of monotonous victories. This spring with a strong, heavy crew Oxford set about the business of acquiring a victory for a change. Practices were guarded and secret. A system...