Word: stepping
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Dates: during 1950-1959
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...Reserve Bank to raise its discount rate-the interest charged on loans to member banks-in a switch to a tighter-money policy to be extended to all Federal Reserve banks (see BUSINESS). ¶ The defense reorganization bill, pushed through a balky Congress by the Administration, was a solid step toward solving the Pentagon's problems. And the historic transpolar voyages of nuclear submarines Nautilus and Skate were sharp reminders -along with three satellites aloft, and a spectacular series of record performances by U.S. aircraft-that the nation is much farther along in technological progress than it seemed...
...Hanseatic hove into view, ending its maiden voyage to New York exactly on schedule. For Hamburg and all of West Germany, the voyage was indeed cause for celebration. The newest, biggest (30,029 gross tons), fastest (21 knots) liner under the German flag, the Hanseatic represents a mighty step forward in a mighty comeback for West Germany's merchant marine. For the first time, total tonnage has climbed above prewar levels...
...began by ferreting out a few priests willing to collaborate as a step to higher rank, installed them in key posts. "Patriotic Priest" Chang Shih-liang, for one, has run the Shanghai diocese since the jailing of Shanghai's Bishop Kung Pinmei in 1955, goes about dressed in full bishop's regalia, including mitre. Ho's most recent refinement is to force valid bishops to consecrate Communist bishops, thereby attempting to maintain Roman Catholic validity. With liturgically correct bootleg rites, he has created ten "progressive" bishops, is planning consecrations for Nanking, Suchow and Hanchow, will soon appoint...
...Speculators, anticipating renewed inflation and Government tightening of credit, started getting out. As Government bond prices fell, shoestring speculators were forced to dump their holdings, driving down prices more. One new Treasury issue, the 2⅝% bonds, fell to 95.16 last week, despite the Treasury's unusual step, in July, of buying back nearly $600 million of the issue. An even sharper skid hit the 3¼% issue: it dropped...
Ackerman will immediately close several of the 133 rental stations that Genet opened, many of them in small cities that cannot support them. To jack up the company, he will also promote package tours, charter service and express delivery. But his tour is limited; he must step out on his 65th birthday-in November of 1959-unless the board scraps Greyhound's mandatory retirement rule...