Word: discountable
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Dates: during 1950-1959
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...been buying either, thus have not been the bullish force they usually are. Brokers do not think that much of the bad news on the domestic side is cause for great concern. For two weeks, the market's anticipation of a rise in the Federal Reserve's discount rate added to the decline. But at week's end, after the rise came, the market rebounded. As soon as the steel strike is settled, brokers expect the market to seek new highs in a sustained rally...
...will be started by Allegheny Airlines between Philadelphia and Pittsburgh at reduced rates if CAB approves. Passengers will not be permitted to make reservations, must carry own baggage but will pay only $13 v. present $20.30 one-way fare. Allegheny also plans to offer ten-ticket books at 15% discount...
Tightening money last week sent the Federal Reserve discount rate to 4%-the highest level in 24 years. It was the fifth such increase since the Fed set the discount rate at 1¼% in the 1957-58 recession as an aid to recovery. In abandoning the 3½% level that had held since last spring, the Fed's purpose was to narrow the abnormal gap between the cost of Fed money to member banks and the rate at which the banks could lend money to their customers. After commercial banks upped the rate to their best customers from...
...Syria and Jordan, closed for weeks by Nasser's United Arab Republic, was ordered reopened by Cairo, and last week Hussein announced: "Diplomatic relations with the U.A.R. will be resumed." The recent disorders in neighboring Iraq have also roused respect for the King among Jordanians who used to discount his attacks on Communism as mere please-the-Yanks propaganda...
...could not allot more because all its funds were committed. Snapped Mayor Bartle to a foundation spokesman: "I think you have sold the people a bill of goods." Councilman Charles C. Shafer Jr. tossed in the time-worn allegation about high headquarters overhead: "There's just too much discount by the Foundation before the money gets to the people...