Word: higher
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Dates: during 1950-1959
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Social Record. Counting remedial "workers' and peasants' faculties," there are 46 institutions of higher education in East Germany, with an enrollment of 100,000. Admission to any one of them is controlled from East Berlin through local, politically oriented selection commissions. Under the government's present quota system, 65% of the nation's college students must be recruited from the "workers' and peasants' class," with priority for the remaining openings given to members of the "productive intelligentsia" (i.e., "deserving activists," "deserving teachers of the people," "deserving inventors," college professors), and to such heterogeneous categories...
...Para-Military Association for Sport and Technology), he still must make out on a 28% smaller monthly living allowance than a student from a farming or laboring family in the same general income bracket. (Living allowances are granted by the government to almost all students in institutions of higher education; tuition is free...
...Securities & Exchange Commission this week predicted that the money shortage-as intended -will force business to push some expansion plans over into 1957. But far from canceling major expansion plans, many businessmen argued that any possible savings in loan costs in the future would be more than offset by higher-priced labor and materials if they postponed construction. Said Arthur Longini, chief economist for the Chicago & Eastern Illinois Railroad: "We're going right ahead borrowing for capital improvement. We feel that this economy has a built-in inflation. There's too much opportunity for profit right...
...Federal Reserve noted at week's end that retail sales (excluding autos) for first-half 1956 averaged 6% above the same period in 1955, more than offsetting the slump in car sales. Wholesale prices and the cost of living seem certain to edge even higher when 1,250,000 union workers collect automatic raises as a result of June-July advances in the consumer index. After raising price tags a record $8.50 a ton in June, steelmen are already talking up another boost. The -auto industry, setting its sights on a near-record 7,000,000-car year...
...Hand. In its manipulation of these controls, has the Fed clamped down too hard on credit? Most bankers say that companies with solid earnings records and established lines of credit will have no difficulty raising money (though at a higher price) for productive uses, e.g., to expand plants, construct office buildings, etc. Ford Motor Co., for example, raised $250 million for plant expansion last month, but had to pay 4% for the 20-year loan. However, some banks are so short of money that they turn over many of their loans to insurance companies, the last great reservoir of private...