Word: higher
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Dates: during 1950-1959
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...Treasury had to offer investors a choice of three separate issues, one at 3⅜%, the other two at 4%, with an option permitting buyers of one four-year issue to cash in their notes two years hence if rates meanwhile have gone still higher. The new interest rates were the highest in 24 years, but as a Treasury official said, "the lowest at which we could sell these securities...
Despite high interest and tight money, the tides of U.S. prosperity washed still higher. Business capital expenditures for the first half were up 8%. Steadily rising personal income went up again in June to an annual rate of $344 billion, $17 billion over last June. Department-store sales were running a good 5% ahead of a year ago, while corporation-earnings reports for the second quarter were generally good (see below...
While U.S. firms with high credit ratings can still make short-term loans at 4%, British businessmen must pay 51%. In Germany, Japan, France, Brazil and Greece, interest rates run anywhere from 7% to 12%. For smaller companies, the effective rate often is much higher, reaching 25% or more annually. Even at such rates, demand so far outstrips supply that companies are hard-pressed for expansion capital, are turning increasingly to profits to get the funds they need. In Britain, West Germany and Belgium, some businessmen are plowing up to 60% of all profits back into their firms...
...that the free world is riding the crest of a postwar boom, and the great demand is to expand and industrialize at once. Enormous technological breakthroughs in almost geometrical progression force businessmen everywhere to search for capital to buy new equipment and materials. And with more jobs and higher pay than ever before, the effective demand of consumers with money to spend and the will to spend it has created vast new markets. In their rush to produce and buy, businessmen and consumers have pushed many a nation into serious inflation (see FOREIGN NEWS), with prices for men, materials...
...crop well beyond the 28.15? per Ib. price he set last February. The net effect, as Under Secretary of Agriculture True D. Morse wrote the House and Senate Agriculture Committees a fortnight ago, will be to encourage farmers to produce more cotton, which in turn will mean a higher surplus and one that will be even more expensive to dispose of abroad. Each additional penny of price supports will cost $25 million more in cotton export subsidies. Said Morse: "With the formulas in the present law, our success in moving surplus No. 1 will set the stage for surplus...