Word: dividend
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...Grumman had claimed that it needed the money immediately to meet its payrolls. But Senators angrily noted that Grumman had reinvested an earlier Navy loan in high-yield, short-term securities and made a net profit of nearly $3 million. Some Senators also were annoyed that Grumman had paid dividends of 15? a share to stockholders in the last two quarters; Grumman last week postponed until next month action on another dividend, but conceded that it has the money...
...exploration, the Government allows part of the money invested in drilling funds to be written off on income tax returns, so many of Home-Stake's victims were putting in money that they would otherwise pay out in taxes. Trippet for a while surprised them by paying handsome dividends, so many upped the ante, investing more than they would have for tax purposes. Apparently, Trippet did it by running a Ponzi scheme, a type of swindle named for Charles Ponzi, a conman who used it to shake more than $10 million out of the citizens of Boston...
...companies on which commercial banks would not take a risk, Ex-lm has helped expand U.S. exports. It facilitated a record $10.5 billion sales last year and continued as a rare moneymaker among federal agencies. In fiscal 1973 it collected $140 million in interest and paid its 23rd consecutive dividend, of $50 million, to the Treasury. Yet now this unobtrusive institution has come under hot attack from politicians, labor leaders and others who charge that its liberal lending policies have unduly rewarded rich nations, robbed the U.S. of jobs, and worsened domestic inflation...
...that, the Amalgamated demands an escalator clause that would raise wages further as the cost of living increases. Union President Murray H. Finley has not yet produced a precise formula, but he rejects a management proposal that seems less than serious. It calls for paying a kind of inflation dividend in the third year of a new contract -but only if prices climb by more than a phenomenal 20% over the first two years. Says Finley: "Management has no conception of the depth of workers' feelings in 1974. Skilled workers are finding it hard to support their families...
...banks that get into trouble, even if that means increasing the nation's money supply faster than he would like. In the past few weeks, in fact, the Federal Reserve has lent $1 billion to Franklin National, a New York bank that had to omit its dividend because of heavy losses it had suffered speculating in foreign currency...