Word: creditably
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Dates: during 1950-1959
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With an eye on the statistics of recovery, the Federal Reserve continued to tighten credit by selling Treasury bills, brought net free reserves down to $306 million, lowest since February and almost $300 million under the $600 million of early July. The Fed also approved a discount rate boost from 1¾% to 2% for the Kansas City and Atlanta banks...
...CREDIT CARD for restaurants, shops, car rental, etc., round the world is planned by Hilton Hotels. Corporation already has 1,000,000 holders of credit cards used in Hilton's 33 hotels alone, last year did $60 million business with them...
...whom is at the helm while the others help Rosy take pictures. He keeps about ten cameras in a special frame on top of the engine hatch, garners up to 500 negatives on a good day. Every picture taken by him or his sons bears the same credit line: Morris Rosenfeld. Rosy's pictures bring as much as $5,000 each. They often settle fouling claims for bedeviled racing officials, and solve design problems for stumped yacht architects...
Following its philosophy of swimming against the business tides, the Federal Reserve Board moved to tighten credit slightly in two ways last week. First, it gave the Dallas Reserve Bank permission to follow San Francisco in upping its discount rate from 1¾% to 2%; the other ten districts are expected to come into line soon. Next, the Federal Reserve announced that it had reduced its holdings of short-term Treasury bills, bringing member banks' net free reserves, which had been around $500 million for five months, down to $403 million. Though the Fed's moves brought immediate...
Actually, the nation's banking system is in good shape for recovery without returning to tight money. Banks have plenty of credit available for businessmen. Despite the Fed's action, free reserves are well above $350 million, where bankers consider that credit begins to tighten. Though short-term interest rates have improved, most bankers expect the prime rate to hold at 3½% for some time because there is still no big jump in industry's demand for money. Business loans, which dropped $1.8 billion in the first half of 1958, show only slight signs of picking...