Word: creditably
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Dates: during 1950-1959
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...Losing campaign manager of the primary that Happy won 24 years ago, Clements later beat Chandler forces to become state political boss (1947-55) and U.S. Senator (1950-56). He lost his Senate seat in the 1956 general election to Republican Thruston B. Morton; Enemy Chandler cheerfully takes the credit for switching the critical Democratic votes. In his grim drive to take state party control back from Chandler and control the 1960 delegation, Clements has spent many a day away from the $22,500-a-year job of Democratic senatorial campaign director that Lyndon Johnson...
...credit, the biggest part of the world's press was not fooled by the Soviet sleight of hand, played the news from Geneva pretty much down the middle. And the Western foreign ministers were determined to catch up with the Russians in handling the press. By week's end, Britain's Lloyd, France's Couve de Murville, and Herter were becoming increasingly available to newsmen. Said one of the foreign ministers to a group of newsmen: "It is for you we are working here-you and public opinion...
Concerned over "the excessive use of credit for purchasing securities," the Federal Reserve Board last week ordered new regulations to curb stock market credit. The Fed kept its basic rule that investors must put up 90% cash on new stock purchases. It added new provisions, effective June 15, to cover accounts in which stocks were bought on margin before the present margin rate. Formerly, if an investor sold stock, held on a margin below 90%, he had to use only 10% of the proceeds to pay off his debt to the broker. Now he must apply 50% of the proceeds...
...rules also bring convertible debentures under margin rules for the first time. After converting the debenture into stock, the investor has 30 days to supply the 90% margin. The Fed will also keep a close watch on bank credit, which has been used to get around margin requirements. Banks often lent up to 50% on stocks. Now, if the bank lends more than 10%, both a bank officer and the borrower must sign a statement that the funds will not be used to buy listed securities...
...presidents of both the New York Exchange and the American Stock Exchange denied that stocks were booming on borrowed money. Said the New York Stock Exchange's G. Keith Funston: "There is no evidence of excessive use of credit in the market...