Word: cash
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Dates: during 1960-1969
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...high-minded adventurer who sailed out from England to "rid the Malay Archipelago of barbarism." In Sarawak he found his opportunity. For the Sultan of Brunei, he subdued a stubborn civil war between the Malays and Dyaks. In gratitude for his services (plus $2,000 of Brooke's cash), the oppressive Sultan in 1841 made him Rajah of Sarawak. Indifferent to crocodiles, boa constrictors and poisoned arrows, the White Rajah lived only for his handsome, amiable people. In 1848 he was knighted by Her Britannic Majesty, and in 1864 Britain recognized his raj. He died a bachelor...
...great Cannon cross is the U.S. Senate, which he accuses of larding great gobs of cash onto spending bills that the House has cut to the bone. Last year Cannon propelled a resolution through his committee that charged the Senate with profligacy, noting that in the past ten years Senators had restored $22 billion previously slashed by the House. Virginia's Democratic Senator Willis Robertson, no great spender himself, called the resolution "the most insulting document that one body has ever sent to another." As he recalls that uproar, Clarence Cannon's face still fractures itself...
...plastic signs and sells citrus fruits. Chucking & Muscling. Muscat, Krock and Huffines got together in 1957 through a mutual interest in rehabilitating a sick New Jersey company called Reinsurance Investment Corp. With the help of their own private fortunes, they then began to build their industrial pyramid, swapping the cash or shares of one company to win control over others or using shares as collateral for loans to buy other companies. As they got control of each company, they quickly closed down or sold off profitless operations, expanded the money-making ones, chucked out many incumbent executives and consolidated management...
...their Picassos in the attic, and claimed that their pedigreed poodles were used exclusively as watchdogs, which are taxexempt. (Le Fisc finally abandoned its hit-and-mistress methods this year.) When the inspectors started demanding taxpayers' financial records, artful Frenchmen from plumbers to landlords retaliated by insisting on cash for their services; the most fashionable doctor in Paris today would sooner vote for socialized medicine than accept a patient's check...
Stop the Singing. To make sure that there will always be ready cash to redeem shares in the fund, one-fifth of it will be invested in U.S. industries. The remainder will be fed gradually, so as not to rock the young Tel Aviv stock market, into Israeli government-held stocks as well as into private insurance, banks, utilities and such land development projects as the nourishing Dead Sea Works (TIME, March 1). The new money, the biggest single block ever to enter Israel, will help to expand growth projects, while charity will continue to cover such ventures...