Word: ratings
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Dates: during 1950-1959
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Proof of the Huggins program's value was in its-figures for infections after operations. In U.S. hospitals generally, the rate ranges up to 5%, and 2% is acceptable in the best. At Huggins it used to be 1.4%; in 15 months since the Adams-Read routine was enforced, it has dropped to .25%-two cases in 800 patients. Cracked a visiting college member: "The thinking surgeon's filter...
...Treasury Department, which has had trouble raising the cash it needs, last week found a way to tap some new money. It issued $2 billion in four-year, ten-month notes at an interest rate of 5%, the highest since the tight-money days of 1929. The rate was so attractive that an avalanche of subscriptions poured in from small investors. Said New York's Manufacturers Trust: "It was fantastic. Everyone in the Government bond department was too busy to even go out for lunch." To help lure in individuals, the Treasury guaranteed that subscriptions...
...billion is needed, in spite of the prospective balance of the budget, to pay the Treasury's bills until tax collections pick up early next year. The Department also expects to raise another $2 billion or $3 billion before January, but does not know at what rate. Some moneymen think that the end of the steel strike will see a big demand and further squeeze on the money market; others argue that the impact of the post-strike demand has already been discounted. In any case the new bonds show that, given favorable interest rates, there is still plenty...
Declining Rates. Largely because the Soviets operate from a lower base, the Soviet economy is growing faster than the U.S. economy. Another key reason for the Soviet growth-about 8% a year, v. 4% for the U.S., since World War II-is that the Soviets have neglected the consumer needs of their citizens. But now a major change is on the way, and the growth rate is on the wane. Going out is crude coercion of the worker; coming in is personal incentive. This shift, says Nove, requires a major diversion of Soviet resources to the nongrowth sectors that...
...Returns. What the Soviet Union faces is a period of diminishing returns that other industrial nations have usually experienced after a major growth spurt. Many of the Soviets' methods and machines were pirated straight from the West, and they sparked the spurt; now they are aging, and the rate of growth is bound to go down. Furthermore, in the days of breakneck drive for growth in the '20s and '30s, writes Nove, "Iron ore or coal mines were 'creamed,' the best and most easily accessible mineral being taken as quickly as possible. The virgin lands...