Word: debt
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Dates: during 1950-1959
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...banks in the Federal Reserve System, which is calculated by comparing the excess reserves of member banks with their total borrowings from the system. Last April member banks had negative free reserves of some $533 million; i.e., they borrowed more than was covered by reserves, were thus in debt to the Federal Reserve and badly pinched for money. Since then the banks have been building up reserves until they briefly edged over into the plus column by $222 million in mid-January before swinging back into the debit column again by $368 million...
...Green River, hampered by inexperienced management and inadequate equipment, was hard hit by the post-Korea steel dip, ran up an overburdening debt of $16 million. For two years creditors tried to marry off Green River with 20 other companies. Nobody wanted Green River...
...showed price rises for the year. Among them: Bethlehem Steel (up 30?), Southern Natural Gas (up 16½), Detroit Edison (up 11), General Dynamics (up 8?). Tax-free municipals were even more of a headache. In 1956 alone, $5.4 billion in tax-exempt bonds were floated, bringing the total municipal debt to nearly $50 billion. This flood of issues, competing for an already restricted money supply, forced the market down further...
...church was harassed; even the language was under attack. Conrad left Poland at 16. At Marseilles, he became a bit of a heller on a £3OO-a-year allowance from an indulgent uncle. Still in his teens, he ran guns for the Carlist forces in Spain, ran into debt, had an affair with a mysterious femme fatale called Rita. An absurd expatriate from North Carolina named Captain Blunt shot and wounded Conrad in a duel over that lady's honor. For no better reason than that he liked the cut of an English jib, Conrad took off for life...
...homebred American game of basketball, in fact, owes most of is present gym-packing, crowd-drawing prominence to the popularity of its hot-handed pros. In turn, the pros acknowledge their debt to a roly-poly Russian immigrant named Maurice Podoloff, 66, who barely knew the difference between a pick-off play and a picket fence when he became president of the N.B.A. In ten years Podoloff has led the league out of virtual pauperhood into the promised land of big crowds and bigger bank accounts. He hits the road as often as any of the players...