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Small Impact. Whatever genuine cuts the Administration can make will be both proper and timely. Last week, First National Bank of Chicago raised its prime lending rate to an alltime high 11.8%, and many other major banks went back up to 11¾%, an increase of one-fourth of a point. In theory at least, lower federal spending should reduce the pressure for still higher rates by lessening the need for the Government to borrow in competition with private borrowers for scarce funds. A thinner deficit should also ease inflationary pressures, which continue frighteningly strong. U.S. Steel and Bethlehem Steel...

Author: /time Magazine | Title: POLICY: How Real a Spending Cut? | 7/8/1974 | See Source »

Jamaica needs money. The nation of 2 million people is suffering vicious inflation, now racing along at an annual rate of 25% to 30%, and more than one-fourth of its work force is unemployed. Revenues from bauxite exports have not risen as quickly as the prices of imports-including oil, for which Jamaica will pay $150 million this year, v. only $50 million...

Author: /time Magazine | Title: MINING: Battling Over Bauxite | 7/8/1974 | See Source »

...final figures won't be in until after registration day, but this year's Summer School should have between five and six thousand students--3500 in the regular Summer School courses, the others in a variety of special programs. About one-fourth of the regular students will be Harvard undergraduates, and the rest will come from all over--some from other Ivy League schools, some from other colleges in the Boston area and some from small black and Chicano colleges in the South and Southwest There is always a sizeable contingent of foreign students, mostly from Japan, as well...

Author: By Nicholas Lemann, | Title: The Summer School: Harvard's Fling With Populism | 7/1/1974 | See Source »

...bring down the Faulkner coalition. Day by day, however, more and more workers stayed away from their jobs, and both industry and domestic services slowed to a near halt. Grocery stores ran out of food, ser vice stations emptied their gasoline tanks, and electric power was cut to one-fourth of normal output. By the end of two weeks, the strikers were so fully in control that they were regulating what little rural commerce remained and had stopped the refueling of airplanes at airports. As an added macabre touch, they even ordered gravediggers to stop burying the dead...

Author: /time Magazine | Title: NORTHERN IRELAND: The Protestants Strike for Power | 6/10/1974 | See Source »

...dividends, the shareholder's return is $3, or 30% of the original price. For 1973, the "return" worked out to a median loss of 25.5%-meaning that the typical shareholder in a top-500 company who sold out at the end of 1973 would have lost more than one-fourth of what his investment had been worth a year earlier. (Actually, his loss on declining prices for the shares would have been even greater, but dividends received during the year would have reduced the net loss somewhat.) Only oil and mining stocks, among the industry groupings, yielded investors...

Author: /time Magazine | Title: PROFITS: Strange Case of the 500 | 5/20/1974 | See Source »

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