Word: central
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Dates: during 1970-1979
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...afternoon last April, in the central Maine town of Dover-Foxcroft (pop. 4,000), Charles MacArthur was standing beside the canal lock that feeds water from the Piscataquis River into the hydroelectric plant of Brown's Mill. He heard a strangely squishy, popping sound. "It was sort of like a baseball bat hitting a rotten stump," he recalls. The bulkhead below the 600-kw generator bulged from hydrostatic pressure and quietly let go. MacArthur (who owns the mill) turned, horrified, to see 100 tons of concrete, studded with steel reinforcing rods, tossed lightly into the springtime air as thousands...
...Proposition 13, which he cosponsored. His appearance was part of a drive to obtain the 266,000 signatures needed by this week to get a tax-cut referendum on Michigan's November ballot. The proposition, sponsored by Robert Tisch, the drainage commissioner of rural Shiawassee County in central Michigan, would cut property assessments in half, hold future increases to 2.5% a year, and permit the state income tax, now 4.6%, to rise no more than one percentage point...
...wheezing touch-football stalwarts assembled in Manhattan's Central Park were not exactly current championship contenders. Present were members of the Baltimore Colts and the New York Giants who played in the N.F.L.'s electrifying, first-ever overtime final in 1958 (the Colts won, 23-17). On hand were such Baltimore ex-greats as Johnny Unitas, 45, Raymond Berry, 45, and Gino Marchetti, 51. On the Giants side were Charley Conerly, 56, Frank Gifford, 47, and Kyle Rote, 50. Primed on beer and banter, the Baltimoreans puffed and passed to a 28-14 victory, overcoming such verbal assaults...
...Central bankers are by tradition an aloof bunch, awed into solemnity by their own eminence as arbiters of a nation's money supply and guardians of the value of its currency. They immerse themselves in financial esoterica, dress somberly in three-piece blue suits, and give the impression that they speak only to one another and to God. When they do appear in public, they issue Delphian warnings, usually of impending inflationary doom. An optimistic central banker has been defined as "one who thinks the situation is deteriorating less rapidly than before...
...what is one to make of G. (for George) William Miller? As chairman of the U.S. Federal Reserve Board, Miller, 53, is the most powerful of all central bankers?but he is far outside the mold. He delights in reminiscing about his boyhood in the oil boomtown of Borger, Texas, a throwback to the wild West of unpaved streets and gun fights. Miller vividly remembers the day that the town's founder, Ace Borger, was shot dead in the post office. He cheerfully relates that his last exposure to classroom economics was a basic course at the Coast Guard Academy...