Word: tighteners
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...Lewis B. Hershey, director of Selective Service, said yesterday that defense mobilization officials are studying proposed changes to tighten draft deferments for college students...
...hardened, under the influence of the Government's higher interest rates on its new bonds (TIME, April 20). New York banks raised the interest on prime (i.e., the best credit rating) loans from 3% to 3¼%, the highest rate in 19 years. The effect will be to tighten up on consumer credit. In short, at a time when tighter credit might cause a slowing up of sales, the steel price rise made it harder to cut prices, if necessary, to keep goods moving...
...first quarter, to a rate of $304 billion v. $288 billion in the 1952 period. Nevertheless, some economists worried about the "danger" of consumer credit, which is now at an alltime peak of $24 billion. Many a lender, notably the Bank of America, biggest in the world, began to tighten up on small loans, as businessmen talked of a possible recession if an end to the Korean war brought sharp cutbacks in rearmament orders...
...recovery: in the first two months of 1953, its imports from EPU nations exceeded its exports by $67 million. France is in direr straits and $625 million in debt to EPU; there is strong talk of a new devaluation of the franc. Rome and Paris had both threatened to tighten import regulations to get themselves out of their jam. By making it easier for them to earn sterling, Butler may induce them to change their minds...
...possible use of the system: radio programs can be recorded, then expanded or compressed to fit their allotted time. Music, too-at least popular music-is easy to tighten up. Fairbanks went to work on Singer Rosemary Clooney's record of Come On-a My House and cut it by 30%. Many listeners agreed that both words and music had been improved. "Rosemary," explains the professor, "is very compressible...