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...Central Savings Bank on the other side of Manhattan. The marriage had been arranged by federal banking authorities to save failing Central, which had a third-quarter operating loss of $8.3 million against a net worth of $17.7 million. To bring off the merger with Harlem, the Federal Deposit Insurance Corporation took over a package of Central's weak loans and assumed other responsibilities totaling $160 million...

Author: /time Magazine | Title: Casualties of the Revolution | 1/11/1982 | See Source »

...best selling point in addition to the tax-free status, though, is high interest rates. Federal bank regulators decided last month to let financial institutions pay whatever interest rates they want on I.R.A accounts. The yield on virtually every other kind of savings deposit is still subject to strict ceilings. Passbook accounts, for instance, can pay no more than...

Author: /time Magazine | Title: Everyman's Tax Shelter | 12/21/1981 | See Source »

...when you thought you were alone. As a form of endearment, he may jump on your shoulder from the top of the refrigerator. He may refuse all food until you cook the same kind of bacon-and-cheese sandwich he enjoyed a week ago. He will, in the meantime, deposit a variety of dead and near dead things at the back door and stalk away for a nap. He may shred the antique silk draperies or decide that the shower stall is a Bauhaus litter pan. Whether the cat is friend or foe, many would agree with the prominent 18th...

Author: /time Magazine | Title: Crazy over Cats | 12/7/1981 | See Source »

...Safe-deposit box No. 4411 at Boatmen's National Bank of St. Louis was supposed to hold stock certificates as gilt-edged collateral for ten of the largest margin accounts at Stix & Co., a prestigious St. Louis brokerage house. While investigators from the Securities and Exchange Commission looked on, a bank official and an officer of Stix turned matching keys in time-honored fashion. But when the box was removed, it contained a pouch filled with back issues of the Wall Street Journal. Securities worth some $36 million were missing...

Author: /time Magazine | Title: Bilking Broker | 11/30/1981 | See Source »

...which will take effect in January 1983, is similar to those already on the books in Oregon (1972), Vermont (1973), Maine (1978), Michigan (1979), Iowa (1979), Connecticut (1980) and scheduled next summer for the state of Delaware. Consumers in Massachusetts will be required to pay a deposit of 50 on any beer or soda container holding less than 32 oz. and 100 on containers holding 32 oz. or more. Retailers have to pay full refunds on containers brought back to them within 60 days after purchase. But they in turn get back the deposit-plus a handling...

Author: /time Magazine | Title: Environment: The Battle of the Bottle | 11/30/1981 | See Source »

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