Word: dividend
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Legally, none. But a committee headed by Federal Reserve Board Chairman Arthur Burns was appointed to keep a close eye on both sectors. It has said nothing about interest rates, which have been falling. Burns asked corporations to voluntarily hold back dividend increases to a maximum of 4% above the base years...
...board was also prodded by the Committee on Interest and Dividends, which is made up of Government officials. Chairman Arthur Burns announced that he will ask corporations to limit dividend increases to 4%. The figure was largely political; it was below the 5% wage guideline being discussed by the Pay Board and thus would make the nation's stockholders appear to be doing more than labor in holding down inflation. Burns reiterated the Administration's view that there should be no controls on interest, but he promised that his committee would keep a sharp eye on sectors...
When Brandt accepts the award and its $87,000 cash dividend in Oslo on Dec. 10, the stage will be set for a thoroughly nostalgic scene. As a young journalist who had actively opposed Hitler, Brandt fled to Norway in 1933, became a citizen and later fought the Nazi invaders as a Norwegian major. He will deliver his acceptance speech in Norwegian-"My first language," as he is fond of saying. At his side will be his Norwegian-born wife...
...Committee on the Health Services Industry will advise the Pay Board and Price Commission on how to adapt wage and price standards to doctors' fees and hospital charges. A Committee on State and Local Government Cooperation will advise on wage standards for public employees. An Interest and Dividends Committee of high Government officials, headed by Federal Reserve Chairman Arthur F. Burns, will try, presumably by jawboning, to persuade bankers to hold down loan rates voluntarily and corporate executives to hold down dividend payouts. Nixon will also ask Congress for standby authority to set legal ceilings on interest...
...Canada was hit by a truck that was heading elsewhere-namely to Japan and Western Europe. For his part, Trudeau has turned aside suggestions from the opposition New Democratic Party that Ottawa slap a retaliatory export tax on natural gas, oil and minerals needed in the U.S., or restrict dividend payments to U.S. parent companies. He has settled on a milder response: a bill, passed by Parliament two weeks ago, setting up an $80 million kitty to aid hard-hit firms in maintaining their employment rolls. The danger is that if Canadian companies use that money to cut their export...