Word: imported
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Many Houses are using the money largely to attract "big name" visitors to their guest suites. But, to import a celebrity is expensive (he receives transportation costs plus a generous "honorarium," seldom refused). As Master Perkins explained, a House can easily spend 15 per cent of its yearly allowance on a single short-term visitor. Furthermore, celebrities are busy men, usually unable to remain in Cambridge more than a few days. Contact with students may be limited to shaking hands, trading pleasantries over sherry glasses, and a speech. It is never enlightening to hear a man--however great--repeat what...
...cotton crop for years ahead. By reselling this cotton at cut prices to Western textile manufacturers (including West Germans), the Communists have driven Egyptian cotton exporters out of much of the European market, have thus deprived Egypt of a major source of foreign exchange and reduced her ability to import Western goods. In the first half of 1958, Soviet-bloc exports to Egypt were more than 2½ times West Germany...
...project.* Last week, an accounting of the Cuban treasury's cash reserves was finally completed. Discovery: in five years. Dictator Batista squandered $423 million, leaving the country with only $110,710,947, or some $60 million less than the legal minimum. To rebuild the reserves, a system of import licenses was clamped on a long list of goods-with the promise of stiff controls if dollar-draining imports are not held down...
...index last week stood at 119.4% of the 1947-49 average, a shade above the December level and only a fraction above a year ago. Several major raw materials even registered sharp decreases. Lead was marked down from 12? to 11? per Ib. when the metal piled up despite import quotas. Because of a worldwide glut in oil, British Petroleum Co. lopped 18? per bbl. off the price of Mideast oil. Creole Petroleum cut 5? to 15? off the price of Venezuelan oil, and in the U.S., Gulf and Ohio Oil dropped their buying price for crude...
...Most Talented. Since India produces only 1,800,000 tons of ingot steel a year, the government must use up huge chunks of its foreign reserves to import the steel the country needs. Hoping to quadruple production by 1961, India has brought in the services of four different nations to do it. At Durgapur in West Bengal, 400 British experts are supervising 29,000 Indians in building a mill that will begin operation next fall. Also in West Bengal, in Jamshedpur, the Pittsburgh of India, U.S. engineers of the Kaiser Engineers Division are just about finished with...