Word: floats
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...result of the continuing boom on boom was that money started to run short, credit tightened, and interest rates rose. Treasury Secretary George Humphrey chose this occasion to float a new $2 billion bond issue with the highest rate (3¼%) that any U.S. bond had carried in 20 years. With this formal notification that the "easy money" policy of the Democratic Administration was ending, the money shortage worsened; three-to five-year Government security rates rose from 2.6% to 2.9%. As credit tightened throughout the economy, builders complained about the new shortage of mortgage money, retailers warned darkly...
...granted Finland credit with no strings attached; 2) paid for 10% or even 15% of Finnish exports to Russia in sterling or dollars; 3) reopened the question of Finnish territory captured by the Red army in World War II. Moscow, said Kekkonen, was preparing to let Finnish lumbermen float log rafts down the Saimaa Canal, which connects their inland lakes with the Baltic, a canal which Russia annexed in 1947. Russia's only condition, said Kekkonen, was that Helsinki should "continue to follow a foreign policy of mutual assistance and friendship between the two countries...
...trading A.M.F. stock: Transducer Corp. (radar, electronics engineering), Union Machinery Co. (baking equipment), DeWalt, Inc. (radial arm saws and homecraft power tools), Cleveland Welding Co. ("Roadmaster" bicycle, second largest seller in the U.S.) Junior Toy Corp. ("Junior" tricycle, biggest seller in the U.S.), Sterling Engineering Co. Inc. (electrical relays), Float-Lock Corp. (drill press vises), Thompson-Bremer & Co. (lock nuts and washers, electrical terminals) and Leland Electric Co. (electrical motors and equipment...
...Government pocket to another would be washed out, and all Government revenues would be treated as income. Such capital expenditures as Federal National Mortgage Association mortgages, small business and rural electrification loans, and Government stockpiling would be taken out of the budget. Ruml would also set up separate corporations, float bonds to finance such capital expenditures as $4 billion worth of federal investments that could produce income to pay for themselves...
...June, LaPointe and Awatter returned to the dark blue mountain; this time the needle spun even more wildly than before. "We struck it rich," cried Awatter. But LaPointe restrained his enthusiasm until they could rent a float plane and land on a small lake to take a closer look at the mountain. "It was nearly all metal," said LaPointe...