Word: cash
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Dates: during 1960-1969
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From the success of the biggest fund-raising drive in the history of American undergraduate education (at Harvard) to an unexpected $1,000,000 from a retired cash register salesman (for St. Louis' Washington University), the ways in which U.S. universities find new funds made news last week. Among the diverse donors...
...Prague-born, retired Cash Register Salesman Karl D. Umrath, 76, who migrated to the U.S. in 1902 and started as a $6-a-week floor sweeper, was disclosed as the anonymous donor of $1,000,000 to Washington University a year ago, when his wife last week gave the school another $200,000. The Umraths, still living in the modest brick house in St. Louis in which they were married 55 years ago, seemed unlikely bets for anybody's fund-raising list. But Umrath started investing when he arrived in the U.S., during the Depression picked up blue-chip...
...smiling again," say the busy businessmen of booming Osaka these days. Translation: "We never had it so good." Ebisu-san is the fat-faced Shinto god of wealth, and last week Osaka held its annual three-day festival in his honor, presented the god with the biggest cash offering in ten centuries. Priests in white kimonos and sky blue shirts, shrine virgins in billowing scarlet, shrine dancers in white and red, and musicians with flutes and harps kept things moving while nearly 2,000,000 of Osaka's 2,540,000 citizens flocked to Ebisu...
...issues that are constantly coming due. With top-grade corporate issues bringing more than 5%, the Treasury cannot sell long-term bonds limited to a 4¼% ceiling. The Treasury is forced to get its money by short-term issues, has to keep going to the market to raise cash, thus disrupting short-term borrowing for business and helping to drive up rates...
...Armstrong Circle Theater (CBS, 10-11 p.m.).* A primer for all potential stock speculators. Full Disclosure is a frank and fact-filled tour of the "bucket shops" and "boiler rooms" where too many market amateurs are separated from their cash...