Word: cash
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Dates: during 1960-1969
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Matter of Cash. At the root of the Filipino dilemma is the age-old Asian problem of too many people, too little food. Population is growing by a million a year, and some 360,000 youngsters enter the labor market annually, only to find jobs largely lacking. To feed this fecund people, Marcos must produce 4,600,000 tons of palay (unhusked rice) in the coming year; even at that he will have to import 600,000 tons-at a cost of $65 million...
Commodities or Cash. What swappers want frequently requires at least a three-way trade. In Moscow, state-owned tobacco stores recently offered Muscovites unaccustomed to blended tobaccos West German cigarettes at 33? to 38? a pack. The West Germans had accepted Bulgarian tobacco in exchange for cigarette-paper machinery, processed much of the tobacco into cigarettes that were sent back to Bulgaria; the Bulgarians shipped them on to Russia in payment for more machinery. Sometimes, the trade is not so simple. Lebanon, burdened by a glut of apples, managed to swap some to Jordan in exchange for 40 army tanks...
Klonarides and his competitors find their biggest market in the underdeveloped nations, which usually have commodities to trade but very little cash. Through bartering, Egypt has been able to swap its cotton for German locomotives, for machine tools and for a British power station. Brazil traded coffee for $4,200,000 worth of British tractors. For handling commodity sales, bartering firms take a commission of 1% up, depending partly on the state of the commodity market and partly on the length of time that it takes them to conclude the deal...
With nothing left but cash and courage, Dilke grimly continued the fight. During the next decade a committee established to investigate the case produced evidence which strongly suggests that Mrs. Crawford's story was a lie from beginning to end. In fact, says Jenkins, Mrs. Crawford had an affair with a certain Captain Forster, from whom she had contracted syphilis. Unable to continue her marriage without disclosing her condition, Mrs. Crawford cynically decided to get both Dilke and a divorce in one fell swoop...
...loss of $759,000 over its last 18-month reporting period, the company showed an overall profit of $10 million, paid its 14,373 shareholders about 75% of that in dividends. How? By astute investment of premium income. Swiss Re owns $811 million in interest-bearing investments and has cash reserves of $31 million-enough, suggested one hyperimaginative financial writer recently, to cover the cost of the end of the world. Says Chairman Max E. Eisenring, 55: "The writer is overstating it by a shade...