Word: stockely
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Dates: during 1970-1979
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...income tax returns. The Budget Director cited headlines linking him to tax fraud on the basis of Percy's statements. Lance convincingly explained that he had written the three checks on Dec. 31, 1976, as dated, but held them until the proceeds from a $250,000 sale of stock on Dec. 30, 1976, had been deposited in his bank. Moreover, he said, the three checks, involving interest payments on loans, had not been deducted on his 1976 tax return. "The knowledge of my innocence, however, does little to lessen the shock and anguish caused me and my family when...
...Collateral Though Percy appeared bumbling and inept on procedural matters during the hearings, he persuasively showed that Lance had received a $2,625,000 loan from New York's Manufacturers Hanover Trust Co. in 1975 and signed a note pledging 148,118 shares of National Bank of Georgia stock, plus any future income from that stock, as collateral. After Lance received an N.B.G. stock dividend of 14,657 shares in December 1975, officials of the New York bank futilely sought to get Lance to deliver those 14,657 shares, to which it was entitled. Insisting that the value...
Lawyer Clifford eagerly pounced on an ill-advised invitation from Percy to clarify the matter. Clifford argued that Lance had merely bargained with Manufacturers Hanover over supplying the stock dividend and, when he and the bank could not reach agreement, ended the matter by paying off the loan. Indeed, Lance did so last January, drawing yet a third loan-for $3.4 million-from the First National Bank of Chicago. Clifford failed to point out that this was a full year after Lance first received the stock dividend. Percy was correct in insisting that Manufacturers had had a right to demand...
...double the focal length of the lens. Then the tapestry is illuminated with banks of lights (see diagram) while, inside the camera, technicians fine-focus the image on a screen 3.9 meters behind the focal point of the lens. Next, they lower a huge sheet of standard Polaroid negative stock, hold it flat against the screen with a vacuum pump and trip the shutter, thus exposing the negative...
...letter hand-carried by an aide to Federal Reserve Chairman Arthur Burns two weeks ago, Reuss charges that the board "has lost control of the money supply." Reuss perceives at least two dangers to the economy: 1) "a real threat of nourishing inflation in 1978," 2) a deeper stock market slump, because investors may sell shares out of fear that the board will have to slam on the brakes suddenly...