Word: interests
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Dates: during 1960-1969
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...Alaska held a down payment of $180 million; the rest is due in ten days. To cash the checks through ordinary bank channels would have required four days, and cost the state $180,000 in lost interest. But this was no ordinary transaction. The Bank of America chartered a jet (for $23,000) to carry the checks east to be cashed in time to be invested in Treasury bills the next morning...
...favored pastime. Alaskans have variously suggested building a bridge to Siberia, distributing the cash equally among the citizenry, and building a much-discussed new state capitol beside the Mendenhall Glacier near Juneau. More soberly, the Legislative Council has commissioned The Brookings Institution to recommend how best to invest the interest that the money will earn, and Governor Miller has asked the Stanford Research Institute to undertake a similar study. Beyond that, Alaska has another 800,000 acres to put up for bids whenever it wishes, and will collect 90% of the royalties from any oil produced on federal land within...
...Chairman William McChesney Martin Jr. of the Federal Reserve Board told Congress that the nation is "at the tail end" of its siege of inflation. "We're making slow and steady progress," Martin insisted. "There are indications that we may be getting to the end of very high interest rates." Maybe so, but last week interest rates on short-term Government notes jumped to still another record high. Example: 6½% on a $356 million issue of New York State tax-free notes. The prices of many industrial materials-among them copper, nickel, steel pipe, chlorine and abrasive powders...
...private sector, a group of businessmen led by Cesare Merzagora, former president of the Italian Senate and now head of Assicurazioni Generali, the country's largest insurance firm, challenged Bastogi, a big holding company in which Assicurazioni owns a major interest. Decrying Italian financial companies as "a group of hens nesting on rocks," Merzagora's group demanded that Bastogi try to stimulate private investment rather than keep its capital in the serenity of real estate holdings. Another group, headed by Insurance Executive Ettore Lolli, joined with Tiremaker Leopoldo Pirelli to oust the conservative management of La Centrale...
...fears hell," a fellow cleric once summed up Richelieu, "he loves theology, he does not entirely lack interest in the things of God, but in the final analysis his kingdom is of this world." The judgment is thoughtful, and O'Connell, an Australian professor of international law, endorses it. He sees Richelieu as a remarkable pragmatist who "combined in a completely unique fashion an iron resolution and a gift for seeing both sides of a question...