Word: pegs
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...issue at stake was whether the Federal Reserve Board must bow to White House pressure and continue to peg, or support, the price of Government bonds above par, thus continuing to make available billions for credit inflation any time that banks or insurance companies wanted to unload their bonds. Harry Truman had insisted that FRB continue the support policy, but had become alarmed at the uproar this had caused...
When FRB pulled its peg, the long-term 2½% bonds, which had been supported above par, slumped to par. But FRB had picked a shrewd time to drop its support. It was the same day that Snyder announced the details of his new issue. Insurance companies and other big buyers liked the terms so well that they jumped into the market and prices steadied, although down from the pegged level...
...tempered Westbrook Pegler proved to be too hot to handle last week for the New York Journal-American, his No. 1 outlet. It killed a Pegler column warning readers not to buy U.S. bonds, although the Washington. Times-Herald and some other papers thought it fit to print. Wrote Peg: "Any corporation . . . promoting the purchase of Government bonds on the pretense that such bonds are good investments, is either a party to a confidence game or a victim of stupid management. In either case I am not kidded...
...Alley's Creative Clothes "The House of Frantic Styles"offered two of its newest and slickest numbers:at $14.95, a knee-length, double-breasted gabardine "Bop Cardigan," with four patch-pockets and no lapels; at $8.95, a pair of "highrise, drop-loop, saddle-stitch, tricky-pocket peg pants...
...arrogant preelection remark in St. Louis that any farmer or laborer who voted Republican should have his head examined. The angry Lucas was sure the crack had hurt him, that Illinois voters had decided among other considerations that it was time to take Harry Truman down a peg by rejecting Scott Lucas...