Word: default
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...tensions between the U.S. and the Soviet Union. The Soviets probably will settle their old World War II Lend Lease debt, an otherwise minor irritant that has handicapped trade between the two countries because the U.S. Export-Import Bank cannot, by law, deal with the Russians until the default is cleared up. Both sides will now probably sign agreements during the presidential visit providing for improved shipping arrangements between the two countries and for the largest sale of U.S. grain to Russia since the cold war began...
...major railroads have no trouble borrowing to buy new cars: the cars make splendid collateral if a loan goes into default. The result is that the companies operate modern covered hoppers, flatcars and gondolas over roadbeds that are rapidly deteriorating. The roads have been able to show what profits they have largely by deferring maintenance that is essential. For example, rails are being replaced on a schedule that assumes the average rail will last 120 years, although it actually remains serviceable for only half that long...
Yesterday everyone advanced effortlessly in straight sets. Number one Harris Masterson defeated Tom Ryan 2-0, default; Ken Lindner beat Bob Blood 6-2, 6-0; John Ingard and Tom Loring won by identical 6-0, 6-2 scores; Randy Barnett won 6-1, 6-1; and Chris Nielson crushed Richard Wolff...
...Esserman displayed that depth yesterday moving up to play the Lord Jeff's number three doubles team and defeating them handily 6-0, 6-2. The number two doubles combo Nielson-Ingard also romped 6-0, 6-2 while Masterson and Lindner rested after being given a default due to the illness of Amherst's Tom Ryan...
...have yet to pay back the first kopeck on the U.S.'s $10.8 billion lend-lease aid provided during World War II. The real issue centers around payment for "civilian" goods, which accounted for one-quarter of the total. The Russians must at least partly clear up this default before Nixon can offer them Government-backed U.S. Export-Import Bank loans. The lend-lease talks were broken off in 1960 but, at Soviet request, talks have just been resumed in Washington. The U.S. has offered to settle for $800 million, but it wants hard Western currency. The Russians...