Word: cash
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Dates: during 1950-1959
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Concerned over "the excessive use of credit for purchasing securities," the Federal Reserve Board last week ordered new regulations to curb stock market credit. The Fed kept its basic rule that investors must put up 90% cash on new stock purchases. It added new provisions, effective June 15, to cover accounts in which stocks were bought on margin before the present margin rate. Formerly, if an investor sold stock, held on a margin below 90%, he had to use only 10% of the proceeds to pay off his debt to the broker. Now he must apply 50% of the proceeds...
...rates. Last week the U.S. found buyers scarce for its latest issue. To holders of $1.8 billion in maturing issues, the Treasury offered to exchange a short-term (one year), attractively priced (4.05%) issue. Instead of taking the new issue, 30% of the noteholders asked for $547 million in cash, highest attrition rate since the record...
Though attrition was high, the Treasury had expected it, had enough cash on hand so it will not have to go to market again immediately. The T-men felt that sweetening the issue with a higher interest rate would not have done much good. With the pickup in business, corporations can see other uses for the money, are reluctant to hold an issue for a year. They prefer shorter-term bills, even though the rates are lower (2½-2⅝%) until they can see where money rates are going...
Canadian-born Aimee Semple McPherson, 28, landed in Los Angeles in 1918 with $10 and a tambourine. Six years later she had built these assets into the $1,500,000 Angelus Temple and a $25,000 radio station, all paid for by cash donations from the fanatic flock that supported her Foursquare Gospel...
This is a direct imposition not only on the people who both play and support rugby, but also on the several hundred spectators. Whether a spectator paid by cash or coupon, he did so with the understanding that his payment was connected with supporting the contest...