Word: cash
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Dates: during 1960-1969
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Under Secretary of State George Ball last week wound up a tour of Western Europe during which he argued the U.S. case for a unified, stiffer Western credit policy-at least 20% cash and the rest within five years. Ball received his friendliest hearing in West Germany, even though Bonn tops the list of allied traders with the Reds. West Germany last year did just over $1 billion worth of official business with Moscow and its satellites (including $422 million with the Soviet Union and $213 million with East Germany); no one can guess accurately how much more private trade...
...John Augustus Sutter were alive today, he would fold his mill and buy into the Columbia Broadcasting System. CBS announced last week a proposed 2-for-l split of its common stock. It also raised its quarterly cash dividend from 35? to 45? a share...
People who bought CBS stock as recently as last January already have doubled their money. Board Chairman William S. Paley lightened his CBS holdings by 75,000 shares last February realizing $3,675,000 cash. If he were to have sold the same shares last week, he would have collected well over $6,000,000. But he isn't suffering. He still hold's 855,000 shares (soon to be 1,710,000) worth almost $70 million...
...quickly picked up by left-wingers in Parliament, and it soon seemed to the casual reader that all Italy was threatened with domination by "foreign monopolies and cartels." Ignored in the outburst was the real reason that Montecatini wants to sell: it has overextended itself and badly needs cash...
...biggest fight of all, Paiewonsky is trying to shift the islands' agriculture out of sugar cane-which is raised on 155 mostly small, uneconomical estates -and into citrus and other higher cash crops. Over protests of the sugar growers, Paiewonsky is urging the federally run Virgin Islands Corp. to close the islands' one creaky sugar mill. "Vicorp" itself is negotiating a long-term lease of 1,700 acres of government-owned and money-losing sugar fields to Big Industrialist Daniel K. Ludwig (TIME, Aug. 2). Ludwig intends to raise citrus for frozen juice then blend one part Virgin...