Word: standards
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Dates: during 1970-1979
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Lance's record as a borrower The comptroller's report notes that Lance never received preferential interest rates for the loans he received from correspondent banks. He paid as much as 1% above the prune lending rate, a fairly standard figure for major clients. The report does indicate, however, that the banks did not always find Lance an ideal customer. Manufacturers Hanover, for example, sent him eight letters seeking verification of the collateral supporting his loan (mostly shares in the Atlanta bank). At one point, the New York bank demanded that he increase the collateral. Another time...
...comptroller's report not only called this "unsafe and unsound banking" but charged that some of the extended credit, including that to Lance, technically violated the law. The standard practice involving such violations, however, was not to prosecute but to order the practice stopped. When the comptroller's office did so in 1975, the Calhoun bank readily complied with the order...
...invested in the Dow stocks 12½ years ago has shrunk, because of inflation and the market's poor performance, to 44? today. The Dow is an average of only 30 blue chips, but broader-based averages do not tell any very different story. For example, Standard & Poor's average of 500 stocks, at 97.51, is about the same...
...Hubert H. Humphrey, 66, indefatigable Minnesota Senator, former Vice President, and 1968 standard-bearer of the Democratic Party; with inoperable pelvic cancer; in Minneapolis. Doctors discovered a malignant tumor on Humphrey's pelvic bone during a four-hour operation to remedy a bowel obstruction. The Senator's cancerous bladder was removed last October. Although his condition is described as terminal because it is inoperable, doctors refused to say how long he might live. They plan to treat the tumor with chemotherapy to slow its growth, and expect that Humphrey will be able to return to the Senate...
...balloonists ascend into the skies, the sum also rises. The standard hot-air balloon costs about $7,000, but custom-built models with designer graphics and suede-covered champagne carriers can go as high as $30,000. Insurance premiums, inspection fees and propane costs add another couple of hundred dollars. To keep down expenses, aeronauts often team up to buy an airship or they join a balloon club. Even so, a would-be pilot may have to pay up to $1,500 for lessons before he can be licensed...