Word: debt
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Dates: during 1950-1959
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...asked for 1½?) to finance the fund-short, 41,000-mile highway program. Result: the gas tax goes to 4? Oct 1. ¶Rejected again the Administration demand for abolition of interest-rate limits on Government bonds, thus left Treasury unable to manage the $290 billion public debt effectively in today's high, changing money market (see BUSINESS). In a minor concession, a House-Senate conference boosted the 3.26% ceiling on popular E and H savings bonds to 4.25%, thus permitting Treasury to credit outstanding savings bonds with 3.75% interest retroactive to June...
...study the history and philosophy of the U.S. presidency: the Harry S. Truman Library in Independence. "I'm doing it for Jack Benny and nobody else," said Truman, explaining that last year Benny had got out his violin to help "pull the Kansas City Philharmonic out of debt." As for the present show: "We want to keep it dignified," said Benny. "And we are," said Truman. "I'll kill myself if it isn't," said Benny. "All right," Truman punch-lined, "I've got an undertaker friend...
...Detroit Institute of Arts will open next week a full-scale show of his past works and future projects, timed to coincide with the dedication of Yamasaki's newest building -the Detroit headquarters of Reynolds Metals Co. Though its grille of gold anodized aluminum owes an unabashed debt to Architect Ed Stone, the Reynolds building, on a 4½-acre plot in a suburb just north of Detroit, epitomizes Yamasaki's ideals of serenity and delight. Aluminum-clad columns lift it above a pond filled with water lilies. Employees will cross the pond on slender concrete ramps...
Congress' refusal to act on the Administration's debt-management program last week continued to disrupt the market for Government and corporate securities. Even as President Eisenhower drafted a special message urging Congress to lift the 4¼% interest-rate ceiling on long-term Government bonds, the Treasury announced that it had to pay 3.824% interest on short-term (91-day) bills, the highest since the bank holiday of March...
Unless Congress acts, the troubles of the Treasury and the money market will worsen in October and November. Then, to raise about $7 billion to finance the seasonal deficit and another $8.9 billion to meet debt coming due, the Treasury will have to go to market with more short-term issues...