Word: deposit
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...when Hubert Humphrey turned in a 7.9 carat diamond estimated to be worth more than $100,000. Presented to Muriel Humphrey in 1968 by Zaire's President Mobutu Sese Seko, along with ten leopard skins from a Somalia official, the diamond has been resting in a Minneapolis safe-deposit box. The skins were sold in 1970 for $7,500, which was given to the Louise Whitbeck Fraser School for the mentally retarded in Minneapolis. Pleading ignorance of the 1966 law, Humphrey said in Washington last week: "At no time did any officer of the State Department or any other...
...plan works this way: a customer opens a special account at a savings bank with, say, a minimum deposit of $100 and gets a book of payment orders. When he wants to pay a bill, he simply writes out an order as he would a check. Only narrow technicalities distinguish these accounts from checking accounts. One of them: savings banks cannot offer overdraft privileges on payment accounts...
...accounts as such pay no interest; that is forbidden by federal law. But a customer can easily open both a savings account and a payment account, and deposit all but the minimum in the savings account. He can then go to the bank and switch funds into the payment account to cover the non-checks as he writes them, and earn interest on the money until the day of withdrawal. He could do the same thing at a commercial bank, but there he would get at most 5% interest on regular passbook savings. At a savings bank...
...believe, do not pay enough to be a good hedge against skyrocketing inflation, and real estate holdings could be seized by Western governments. Instead, the Arabs have been putting most of their money into the shortest-term investments possible: U.S. Treasury bills, New York and London bank certificates of deposit, and Eurodollar bank accounts-many of them "call" accounts from which the money may be withdrawn instantly without advance notice. That is a form of recycling that does little good; banks are understandably reluctant to make long-term loans out of money that may be swiftly snatched away. Indeed...
...that date the library's investments were divided between nongovernmental bonds ($3.5 million), corporate stock ($3.9 million in 16 different corporations) and certificates of deposit ($4.7 million). The library claimed $2.0 million in assets relating to planning and acquiring the library site...