Word: effect
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Dates: during 1940-1949
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Said the New York Daily News, in U.S. idiom which no doubt would fascinate Jake: "This demand that Lomakin be jerked the hell out of here should have a wholesome effect on the overlords of the Kremlin...
What was it? The researchers isolated one microorganism after another; they cultured each and tried it out. Last week they reported in the Journal of Laboratory and Clinical Medicine that they had found a chicken dung culture which produced the same effect as liver extract in patients with pernicious anemia...
...thought that the results of Snyder's action would prove much of a damper on the inflated market. The cost of borrowing would have to be much higher to be effective. As for the rediscount rise, its effect would only be psychological. Borrowings by member banks from the Federal Reserve Banks are relatively insignificant, at less than $300 million. With excess reserves of over $1 billion, member banks were not likely to raise the volume by much, nor feel any actual pinch because of the higher charges...
Most bankers agree that a more effective way to curb credit is for the Federal Reserve Board to raise the percentage of deposits which member banks are required to keep in reserve, thus limiting the amount available for loans. But FRB, fearful of the effect on the sensitive credit structure, was reluctant to raise reserve requirements. With curbs on installment buying going into effect next month, FRB thought it would "wait and see" before making further moves...
That was not all. The day before the issue's registration took effect, K-F, through Otis & Co., quietly bought enough of its own stock to stabilize the market at $13.50 a share, and thus assure a good sale of the new issue that was to be priced at $13 to the public. But Eaton, the SEC said, had tipped off dealers and customers. Result: they unloaded stock at $13.50 which they figured to buy back next day at $13 or less. That forced K-F to pay out a whopping $2.5 million for stabilization...