Word: payments
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Dates: during 1960-1969
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...problems that brought it low: the debt to Vickers, and an inefficient route structure. Patter son intends to clear up both problems. He has already got Vickers' agreement to take back 15 turboprop Viscounts bought on credit by Capital, and to accept United common stock as full payment on Capital's debt. Vickers may lose as much as $9,000,000 on the deal. Shrewdly, Patterson has also made the merger dependent on permission from the Civil Aeronautics Board to drop 20 cities on Capital routes, thus getting the line out of local service. He is also happy...
...made by the broker, on which the customer pays 4½% to 5% interest. The Fed's move actually affects a small-but important-part of the market, since only some 20% of all shares traded on the New York Stock Exchange are on margin. With less "down payment" required, an investor is now able to increase his stock holdings immediately if he wishes. Brokers' phones were busy all day after the announcement, answering thousands of questioners who asked: "What is my buying power now?" The margin cut applies only to securities listed on national exchanges. Stocks...
...condemnation of U.S. "imperialist aggression." A Chinese Communist trade delegation to Cuba, headed by Deputy Foreign Trade Minister Lu Hsu-chang, closed a deal with National Bank President Ernesto ("Che"') Guevara to buy 500,000 tons of Cuban sugar each year for five years. A fifth of the payment is to be convertible sterling and the rest vegetable oil, rice, cotton, manufactured goods and "entire factories." In Moscow...
...effort of the industrial non-Communist world to supply capital to the underdeveloped countries has expanded astonishingly. Britain has doubled her aid in less than three years, Germany has more than doubled hers. The United States has been giving more purely development aid, as distinct from balance-of-payment-bailout aid, than at any time before, including the era of the Marshall Plan. The Cow of public capital to the poorer part of the world is immensely greater than at any other time in history...
...painting was not born at Yale. I was exposed to good art all my life." Harriman acquired Henri Rousseau's Rendezvous dans la Foret from a dealer in Paris in 1935; the dealer had bought it from a washerwoman to whom Rousseau had given the painting in payment for her services. Several alumni have lent a number of works to the show; Industrialist Stephen C. Clark, '03, donated 24 pieces to the exhibit, among them Degas' Self Portrait. Another top contributor is Henry J. (57 Varieties) Heinz, '31, who lent Rufino Tamayo's somber Woman...