Word: debt
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Dates: during 1950-1959
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...most popular of the moderns, Kiyoshi Saito, 52, has achieved a success almost worthy of the top Ukiyo-e artists. In 1955 he exhibited 67 of his pieces in the U.S., in a grand gesture gave them all to the University of Michigan. In debt, like most of his contemporaries, to Western influence and a Western audience, Saito lately visited ancient Kyoto to recapture special Japanese qualities he feels his works lack, ruefully muses: "We have lost our Japanese origins. I keep on going to Kyoto to try to rediscover them." But to a Western eye, his origins are unmistakable...
...Soviet citizen's curiosity about U.S. time payments-and particularly about the fate of defaulters-showed up strongly at the American National Exhibition in Moscow. While publicly deploring U.S. consumers who put themselves in debt, Soviet officials have quietly experimented with installment buying for two years. A trial in Odessa last February was hugely popular, although sloppy bookkeeping ended the venture...
Fresh signs that consumer demand is continuing to increase came last week from the Federal Reserve Board. It announced that consumer installment debt in June rose by $452 million (seasonally adjusted), the largest addition for any month since September 1955. The June increase raised total outstanding consumer installment credit to a new high of $35.8 billion...
...preferred shares that can be converted after 1960 into some 5% of S.-P.'s common. S.P. stock has already risen so high (from a '58 low of $2.87½ to $12.50 last week) that a group of banks that last year forgave $38.2 million in corporate debt in return for convertible preferred with a par value of $16.5 million have begun to sell the shares at a profit...
...current year's $77.5 billion, but the soaring economy may produce revenues as high as $86 billion. If so, President Eisenhower, when he unveils his new budget in January of election year 1960, will be able to point to a hefty surplus to use for denting the national debt or nicking taxes, or both...