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...shuttered by state banking authorities after a run on its deposits. That triggered a statewide panic when depositors at other thrifts, which had no dealings with E.S.M., rushed to withdraw their money, fearing that their savings were in jeopardy. At mid-week, the Ohio legislature created a $90 mil- lion emergency fund to supplement insurance for the savings and loan associations, but even that soon seemed inadequate in the face of mounting withdrawals. When he declared the bank holiday on Friday, Celeste explained that legislators and federal and state banking officials were working round the clock to formulate a plan...

Author: /time Magazine | Title: Aftershocks | 3/25/1985 | See Source »

...virtually dust free. The fleece of a Sharlea sheep now brings farmers $56 for about 7 lbs., in contrast with $14 to $17 for the wool of sheep raised normally. While Sharlea flocks are growing, they still account for only about 15,000 of Australia's 139 mil- lion sheep. Some critics decry even that modest inroad, insisting that sheep are happier in their natural environment. Not so, contends Robert Beggs, who has 435 shedded sheep on his farm near Melbourne. Says he: "If I opened the door and herded them out, they would be back in five minutes...

Author: /time Magazine | Title: Farming: Wool in Sheep's Clothing | 3/25/1985 | See Source »

This reputation rests, for Americans, almost wholly on one painting. It was no slight thing to have painted The Sleeping Gypsy, by now perhaps the most famous dream image in Western art. The silhouette of a sniffing lion, with one unwinking yellow eye and a tail stiffly outstretched, its tip erect as though charged with static electricity, quivering like Rousseau's own paintbrush; the swollen, white Melies moon; the black nomad like a toppled statue, her feet with their pink toenails gravely sticking up; the djellaba, with its rippling stripes of coral, Naples yellow, cerulean; and the lute, like...

Author: /time Magazine | Title: Art: Master of the Green Machine Moma's | 3/25/1985 | See Source »

...Geneva is still a splendid place in which to discuss the world's ills. The best lakeside restaurants, like La Perle du Lac or the Lion d'Or, serve a magret de canard with a fine bottle from neighboring Burgundy for about $40. Geneva also has good Chinese, Vietnamese, Korean and Indian restaurants, not to mention modest brasseries that offer a delicious newly caught perch for about $10. Any American who wants to take advantage of the strong dollar (now worth 2.8 Swiss francs, up from 1.7 five years ago) will find the Rue du Rhone lined with windows displaying...

Author: /time Magazine | Title: Meeting Place of the World | 3/11/1985 | See Source »

...Total Fouls--Harvard 15, Columbia 18 Rebounds--Harvard 27 (Carrabino 11), Columbia 25 (Guydir 7). Assists-Harvard 11 (Smith 4), Columbia 14 (Smith 9).CrimsonJi H. MinHarvard junior ARNE DUNCAN faces off against Columbia's TOM GWYDIR (53) in last night's men's basketball contest, a 62-58 Lion victory...

Author: By Marse B. Morris, | Title: Carrabino Shatters Scoring Mark | 3/2/1985 | See Source »

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