Word: rosing
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Dates: during 1950-1959
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...squeeze on money, which many experts had hoped would start easing soon, got tighter last week. The Treasury's interest rate on 90-day notes rose to 3.374%, the highest since the 1933 bank holiday. The rate on short-term commercial loans also rose to the highest in nearly a quarter-century: four-to-six-month notes of the nation's leading corporation borrowers carried ah interest rate of 3.75%. Said a Wall Street bond dealer: "Money is so tight it squeaks...
...what was happening in bonds. The demand for long-term money by expanding corporations was so great (eight bond issues in the week totaled $103, 575,000) that the corporations had to keep upping their bids for the available supply. The interest rate on top-quality utility bonds rose as high as 4.58%, while the cost on bonds that were rated a bit lower was as much as 4.68%. On some bonds the yields topped those of blue-chip stocks; Columbia Gas System's 5½% debentures were sold at a premium that made their yield 5.40%, while Georgia...
...Rate? As interest rates rose, Wall Street wondered whether the Federal Reserve System would raise its 3% rediscount rate, which for some time has been less than the short-term borrowing rate the Treasury pays. Ordinarily the Fed raises the rediscount rate to prevent "riding the rate," i.e., a member bank borrowing from the Fed to have more funds for lending at a higher rate. But member-bank borrowing last week averaged $888 million, up only $5,000,000 from the week before. Since there was no evidence that banks were riding the rate, best guess was that...
...Speculators. On the green acres of four nearby courses, golfers yearned to mix business with pleasure. In no time, the price of memberships shot up so high that some are now more expensive than seats on the Pacific Coast Stock Exchange. The price at the Los Angeles Country Club rose from $3,000 (in 1953) to $10,000, and members who paid a cut-rate $150 in mid-Depression were happy over the best investment they ever made...
Twelve Angry Men. A thriller of ideas in which the right to trial (and error) by jury is cleverly cross-examined by Scriptwriter Reginald Rose Actor Henry Fonda (TIME, April...