Word: chips
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Dates: during 1970-1979
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Bankers reacted to the economy's new look last week by paring the prime interest rate that they charge blue-chip customers. As expected (TIME, Sept. 28), moneymen around the country followed the lead of First Pennsylvania Banking & Trust Co. in trimming the rate from 8% to 7½% . The move could only delight election-bound Republican candidates because a drop in the prime can be cited as a sure sign that the worst of the tight-money squeeze is over...
...stock market's rally from its late-May low of 631 on the Dow-Jones industrial average lost a bit of steam last week. Having climbed nearly 70 points since mid-August, the blue-chip indicator dropped nine points and closed at 762, reflecting profit taking, worry over possible auto and railroad strikes and concern about the danger of a new explosion in the Middle East. Despite the dip, analysts are generally cheerful. As the market moves into its traditional post-Labor Day period of reappraisal -both of economic prospects and of individual portfolios-many Wall Streeters think that...
...highway. In this season the land is still hot, the air humid; the prairie wind sears rather than cools, and storms roll in from the west in minutes. Along the four-lane divided highway, humming tires throw up white crushed rock from the shoulders to nick a windshield or chip paint from a fender. From the few knolls in this flat land, the highway shimmers in the heat of distant, mirage-like oil slicks...
Even habitually anti-Pentagon Senators found it difficult to vote against the "bargaining chip" theory if it might one day yield a limitation of the arms race. So the Cooper-Hart anti-ABM amendment was defeated 52-47, and over the weekend opponents marshaled for a vote this week on an amendment offered by Senator Edward Brooke that would spend the full request but limit site expansion...
...year life of the loan. The Government pays the subsidies to private lenders, which extend the loans. For one recently completed group of $17,500 town houses in Pittsburgh, the buyers (mostly blacks) will pay only $97 a month for interest and amortization on their mortgages; the taxpayers will chip in another $86. In addition, the Emergency Home Finance Act, signed last month by President Nixon, creates a new program to subsidize loans on an estimated 280,000 houses priced up to $30,000 over the next three years...