Word: deficit
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Dates: during 1940-1949
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...Elbel and Bill Allis at five and six came home with the three points which spelled victory for the hard-pressed Hoddermen. Allis turned on the heat against Price in the last five holes, converting a two hole deficit into a 2 to 1 victory. Elbel also won over Miller by that margin, and the best ball went to Harvard...
...Joseph Engel, a mole for figures, voted for the bill without more than five minutes' consideration. But, while other members went on to other urgencies, fact-loving Mr. Engel took time out to study what he had voted for. His conclusion: the Army had underestimated, would have a deficit of around $330,000,000. Sure enough, Congress voted a deficit appropriation of $338,500,000 in March. By that time Albert Engel was buzzing from camp to camp in his Mercury, sleeping in his car, eating sandwiches washed down with milk, and poking through 13 camps on the eastern...
...Chicago & North Western, in bankruptcy since June 1935, has suddenly begun to make money on its old capitalization. Its February gross was $6,913,000, up 8% from last year, while its operating net rose from a $288,000 deficit to $624,000 profit...
...banks had only 39% of their funds in commercial loans; it was chiefly their volume of brokers' loans that gave them the appearance of great prosperity. What the corporate financing of the '20s started, the New Deal finished. The Treasury's gold buying and deficit financing pushed up deposits; banks were overwhelmed with money. Corporations, no longer growing, financed themselves out of surpluses. By 1935 only 21% of active bank funds were in commercial loans...
...months. Last week a few details of what will be the biggest money drive in history leaked out. With one hand, the Treasury will hike taxes again (see p. 16). With the other, it will sell bonds. Bonds have long been the Treasury's chief method of deficit financing. But it figures that corporations, which used to buy Government bonds, now need their excess funds for defense expansion. Treasury issues which used to be oversubscribed 10-14 times now are oversubscribed only 2-4 times. So the Treasury will now raise its money from the general public. Slower...