Word: sproules
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However Brown, Sproul and Eccles may differ about the Board's (not Eccles') special Reserve plan [TIME, Dec. 22], there is no perceptible disagreement among us as to the relative insignificance, as an anti-inflationary measure, of increasing Federal Reserve Bank discount rates. Member banks do not like to borrow, and do not have to when they can get reserves via gold inflow or selling some of their holdings of Government securities...
Modest Steps. Next day, Eccles had a second thought. He announced that FRB would inch up the rediscount rate from 1% to 1¼% "in the not too distant future." Then Allan Sproul, president of the Federal Reserve Bank of New York, prodded Eccles. FRB has the power to make Central Reserve banks (those in Chicago and New York) increase their reserves another 6%. Why didn't it do so? As for Eccles' new plan, Sproul gave it the back of his hand. Said he: "It would expose us to grave monetary disorders. ... A program of modest steps...
...World Almanac lists 864 of these "state U's" and other colleges in the United States. When University of California president Robert Gordon Sproul recently assorted that. "American faculties overwhelmingly agree that Harvard is the first institution of the land," he simply poured salt in the wounds of the student had alumni, subway as well as actual, of every last one of the other...
What about the role of an educational leader in the intercollegiate football wars? "Disenchantment" provokes only a shrug from Sproul ("these bad season . . .") for Cal jumped from a 7 out of 9 losing streak last season to an 8 game clutch of victories this fall. "I've seen these crises over and over," he smiles. "They'll talk about subsidization. A student body ought to recognize that there's no real glory in a team that's been bought and paid for. It doesn't mean a thing unless it grows out of the actual life of the institution...
Perhaps casting a sidelong doubt toward next year's schedule, Sproul went on to suggest that "you ought to find opponents in your own class. I wouldn't take on Jack Dempsey; it wouldn't be fun for anybody. Get games with institutions ethically and athletically on your own level. Play the game on your own standards, not the sportswriter...