Word: sproul
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...argument. Democratic Senator J. W. Fulbright, chairman of the Senate Banking and Currency Committee, said that he would be "sympathetic" to any such request. He considered holding hearings on direct consumer credit controls such as the wartime Regulation W, which specified minimum down payments and maximum loan terms. Allan Sproul, president of the Federal Reserve Bank of New York, is also worried, feels that credit abuses in boom times can become a "serious source of instability in our economy." He argues that consumer credit controls should be among the Federal Reserve Board's permanent economic tools...
...chief argument for direct controls is to put more curbs on consumer credit, which has increased $6 billion, to $36.2 billion since 1954. Like Banker Sproul, the President's Council of Economic Advisers thinks that the FRB should have the power to impose direct consumer credit controls. Currently, the FRB can enforce only indirect restrictions on consumer credit through its overall monetary operations. It can restrict credit only by increasing loan costs through boosts in the rediscount rate and reserves of member banks and sales of Government securities. But on the basis of past history, the council feels that...
Miss Peterson's brilliant soprano was set off nicely, in an effective bit of casting, by the relaxed lyrical voice of Margot Sproul as Phoebe Meryll, whose demureness gave individuality to a role which the more exciting female parts might well have eclipsed...
...meeting in honor of Robert Gordon Sproul's 25th year as president of the University of California, his second in command at Berkeley, Chancellor Clark Kerr, announced some cheery, silver-anniversary news. A wealthy banker, who insisted on remaining anonymous, has bequeathed the university $2,750,000 to start an Institute for Basic Research in Science with much the same sort of ideals as those of the Institute for Advanced Study in Princeton. Its main purpose: "to discover and encourage the work of individuals of great talent and promise...
BUSINESS BOOM will keep growing in 1955's second half, predicts Allan Sproul, president of the Federal Reserve Bank of New York. Said he: "The business recovery has been sparked by housing and steel, but it has now broadened out so that if there is a leveling off in housing and autos, business should continue to improve in the 1955 second half...