Word: scrip
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...coop, they have no market value. To head off real tax reform, co-ops now are willing for Congress to pass a new law, forcing co-op members to pay personal income tax on allocations but keeping the organizations themselves exempt. To overcome the court objections to taxing scrip, the Treasury recommends that all exempt allocations be made in cash or in certificates that would pay a minimum of 4% interest, have a maximum maturity of three years. This would, in effect, make the scrip short-term notes, give it a value for personal income tax purposes. But many...
...permitted, and only cons with records of good behavior can be appointed dealers. They "buy" a table for 75 cents a week, split the take with the prison, which uses its share for the recreation fund and for the purchase of eyeglasses for needy inmates. Players draw "brass" (scrip) from their personal accounts (maximum $20 a week), never handle real cash, since an accumulation of "street money" might give a prisoner big ideas about escaping. Gambling hours in the small, dim, rock-walled "casino" are carefully regulated...
When each D.J. showed up, RCA Victor handed him $1,000,000 in "play money," but the scrip called for solid value. The D.J.s were supposed to increase their holdings by gambling and by making frequent trips to the company's "Hospitality Suite" where they could obtain liquid refreshments plus 5,000 "dollars" for every visit. On Memorial Day, in exchange for the play money, RCA Victor auctioned off a stereo set, a color TV set, 500 real dollars worth of clothes, a trip for two to Europe, and a Studebaker Lark to the highest bidders-and the bidders...
...named Kim Choon II was nabbed by a guard inside the Eighth Army's aircraft maintenance center at Ascom City, 15 miles west of Seoul. He had broken into noncommissioned officers' quarters, pocketed a traveling clock, cigarette lighter, flashlight, two PX ration books, $6 worth of scrip. He was frog-marched to the guardroom, where a group of U.S. officers and enlisted men, irked by 20 burglaries in six weeks, decided to teach Kim a lesson...
...fact there were two reasons why the Soviet worker might not be wholly displeased with the state pig passed to him by Khrushchev: 1) at least from now on, Khrushchev promised, the loan deductions would cease; 2) few Soviet workers and peasants have believed that the loan scrip was worth more than the paper it was printed on. Almost the only people who stood to lose by the decision were the speculators who had bought up loan certificates at fractional values on the gamble that some day they might be redeemed. "Stormy applause" was said to have greeted Nikita...