Word: excessively
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Dates: during 1930-1939
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...credit was arbitrarily changed last week. Emerging from a sweltering all-day session in Washington, the Federal Reserve Board announced a 50% increase in reserve requirements for member banks, effective Aug. 15. After nearly a year of public and private debate over the inflationary dangers of excess reserves, Reserve Board Chairman Marriner Stoddard Eccles had finally taken up the slack in the elaborate brake system provided by the Banking Act of 1935 to stop runaway credit expansion...
...slack lay entirely in the fact that the nation's banks now have some $3,000,000,000 in reserves over & above what they need to support their present business. That excess could support a credit expansion of at least $30,000,000,000. It is the threat of such credit inflation that gives bankers like Chase National's Chairman Winthrop Aldrich the jitters every time they think about it. And, through the mysteries of central banking, excess reserves are about to take another rise as a result of the payment of the Bonus, the Reserve Board estimating...
...flag for 20 years, pay its executives no more than $25,000 a year. These conditions satisfied, the Authority will submit for bids the company's plans for new ships to U. S. shipyards, which in turn must agree to return to the Government profit in excess of 10%, for the job. The Authority will accept the lowest bid, but will contract to sell the finished product to the operator at a figure equal to the cost of building the ship in a foreign yard. This figure is almost certain to be lower than the cost...
...operating the ship, the company will also receive a subsidy, planned in each case to equalize its operating costs with those of its chief foreign competitor. To be eligible for this subsidy, the company must agree to share all net profits in excess of 10% with the Government and must pay its men wages approved by the Authority. Concerning the act as a whole, most shipping men were enthusiastic. Almost all agreed, however, that its effectiveness will depend upon the calibre of the five men President Roosevelt must appoint to the Maritime Authority within the next 90 days...
Just above the restricted class are so-called "borderline" accounts, in which margin is 55% to 60%. Their trading rights are not restricted, but excess margin is so small that another purchase of any size would push them below the 55% mark. Reported in this danger zone were 11% of all accounts, 12% of all margined securities...