Word: cashing
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Dates: during 1950-1959
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Canada's funny-money Social Credit Party, which was elected in the province of Alberta in the hungry '30s on a promise to pay "dividends" to all citizens, got ready at last to hand out the cash. Premier Ernest Manning's government last week set aside $11 million, about one-third of the revenue it will receive this year from the province's oil and gas boom, for direct distribution to the people of Alberta. Shares this year will amount to about $22 for every adult Canadian citizen with five years' continuous residence...
...unique deal. Obligated to realize the cash value of the collection under the terms of a divorce settlement, Art Lover Robinson sold it through Knoedler's, then bought back for himself 14 paintings worth an estimated $500,000. For the works Niarchos acquired, the price was about $2,500,000. Estimated commission to Knoedler's: $250,000. To help the highly emotional Robinsons reach agreement with each other and with a buyer, Knoedler's had assigned a mobile task force to the transaction (one man to Robinson, another to his wife, a third to Niarchos) and worked...
Much of the current worry over the state of the economy can be crystallized into a single concern: Will the consumer keep on buying, or will he succumb to the notes of pessimism and tighten up his purse strings? By the healthy ring of the nation's cash registers last week, it was clear that the consumer has not suffered any recession jitters. The Federal Reserve Board reported that department-store sales for the previous week jumped 7% above the 1956 level, and that for the month ending in mid-February, sales increased...
...persuaded his mother to wager the family's stake on the chance of becoming an oil major-leaguer by buying into oil companies. He took over the Pacific Western Oil Corp., then liquidated its $12 million investment portfolio, sold some of its leases, and borrowed heavily to raise cash for bigger game. Quietly he bought shares in the big Tidewater Oil Co. at depression prices...
...their suite-the customers picked up the tab for -their services. Two months later another call went out to Nella, this time for a blonde to liven up a party for local dealers. Her fee for the evening: $100 which Rinker "drew out of petty cash...