Word: cashing
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Dates: during 1950-1959
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Minutes before Michigan's Republican-controlled state senate was due to vote last week on Democratic Governor Gerhard Mennen Williams' latest plan to ease the state's financial troubles, the state treasurer sent each senator a statement of Michigan's obligations and cash in hand. Its net: Michigan, in terms of its general fund, was broke; by month's end there would be no money for 20,000 welfare cases, by May 7 no salaries for state employees, university faculty members, or for the legislators themselves...
...extra-price stuff (like "80 Days" or "Gigi") does not hit the square until after a subsequent regular-price Boston run. Then, after the usual 21-days blackout, it slithers into the U.T., much to the distress of those who have seen it in Boston for more cash...
...year, for the first time, Cessna is forging ahead of rival Beech Aircraft ("across the street" in Wichita) as the No. 1 maker of private planes. Cessna announced first-half earnings for fiscal 1959 of $3.92 a share v. $2.45 last year, declared a 25% hike in its quarterly cash dividend to 50?. The company's conservative projection of the year's earnings: $7 a share...
...subways (237 miles) and surface lines (554 miles) are often slow, sporadic, smelly-and they are running $17 million in the red this year. Last week a private operator offered to relieve New York of this financial headache, reportedly was ready to pay upwards of $500 million in cash and bonds-give or take a few million-for the $2.1 billion transit system. Said O.(for Oscar) Roy Chalk, 51, able admiral of D.C. Transit System, the national capital's surface lines: "I'd like to prove that private enterprise, with $1, can go 50 times the distance...
...Bronx (his neighbors were George and Ira Gershwin, and he fielded sandlot grounders batted by Lou Gehrig), rode the subways to New York University Law School ('31). With loans and his skimpy earnings as a young attorney, he bought Bronx apartments at Depression prices, later cashed in on World War II's real estate boom. Typical Chalk deal: in 1942 he bought the 16-story apartment house at 1010 Fifth Avenue (corner of 82nd Street) for $1,000,000, putting up considerably less of his own cash. It is now worth upwards...