Word: floats
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...Showgirl Sophie Tucker finally got to play Manhattan's Waldorf-Astoria. The occasion was the biggest one-night stand of her career: the Sophie Tucker Golden Jubilee Testimonial. Driving up to the front door in a gilded 1903 Ford and rolling-into the Grand Ballroom like a great float (a 24-carat cloth-of-gold gown, a Mr. John hat with diamonds and foot-high white aigrettes, a white mink coat), Sophie sat down to a filet mignon dinner with some 1,700 admirers, who paid their way in with $165,000 for theatrical charities. It was really Sophie...
...Lieut. Frank Gillan. When the second torpedo hit and Perth keeled over, he was trapped far below decks. Only perfect presence of mind and the lucky chance that his Mae West was only half-inflated saved him. As the water rose in the sinking hull. Gillan calmly let himself float upward with it through the pitch-dark passages of the ship, the air in his life jacket buoying him gently, but not so much as to force him against the overhead, where he could not maneuver. After a few awful minutes, he drifted out of the Perth like a ghost...
After months of tortuous indecision, a French government was at action stations last week. The order: buoy up the nation's economy. With each succeeding day (including Sunday), the government sinks $6,000,000 deeper into the red. Millifranc notes are pouring from the government printing presses to float government payrolls, but soon the inflation must be plugged or the economy will be in danger of foundering...
...move was a temporary reversal of the hard-money policy in that it keeps interest rates from going any higher. Humphrey had a compelling reason to seek that. Right after he floated $1 billion worth of 3¼% bonds in April-the highest long-term rate in 20 years-all interest rates went up until the Treasury found itself paying far stiffer rates for short-term borrowings. Since then, a drop in tax receipts has proved that Harry Truman's budget overestimated the Government's income this year by $2.2 billion. Humphrey will have to raise $6 billion...
...stopped supporting Government bonds at a fixed level. Without pegs, bonds fell, and their yields (i.e., interest) automatically rose, causing a gradual rise in all interest rates. This was the first real tightening of money, but it only used half of the available tools, for the Treasury continued to float bonds at low interest...