Word: midyear
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...their money in short-term securities that can be quickly liquidated if cash is needed. With so much money around, and the discount rate reduced, some businessmen say that they expect the prime rate to drop still lower. Few bankers agree. They expect loan demand to increase by midyear with a revitalized economy. They are confident that when that happens, their customers will come to them, eager to borrow at the present ½% rate...
Administration. If Congress should cut Johnson's budget by $5 billion, Martin suggested, he might even go so far as to withdraw his important support of the presidential request for a 6% surcharge on income taxes at midyear...
With the Ford Foundation paying the tab, Prettyman Fellows first spend two months studying some 600 cases, holding mock trials and visiting police stations. They get advice from judges, psychiatrists, even bail bondsmen. By midyear, a typical Prettyman fellow is handling no fewer than five misdemeanor cases, ten felonies, a couple of appeals and a constant series of preliminary hearings-all the while attending night classes at Georgetown and writing research papers...
Along with Radcliffe Gym, Carey Cage will be the scene for 90 midyear exams for both Cliffies and Harvard students...
Sequence of Squeeze. With inflation becoming a reality as prices jumped, the Federal Reserve at midyear made a hairpin turn. It shifted from expanding the money supply at a 6% annual rate to contracting it by a 2% rate, doing so by selling Government bonds to sop up cash. From April to August, the money supply - currency in circulation and demand deposits in banks - dropped from $171.6 billion to $166.9 billion. The reverse was particularly jarring because, simultaneously, loan demands were greatly stepped up as a result of two moves by the U.S. Treasury - which does not always coordinate...