Word: tilford
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...Socialism failed miserably in Australia, is now a failure in Great Britain, and the welfare state Great Society presumes to take my money and yours to bail out Mr. Wilson. Question: When Johnson, Humphrey, Reuther & Co. are through with the U.S., who bails us out? JAMES D. TILFORD JR. Palm Beach...
...demand for long-term credit," said Vice President Tilford C. Gaines of the First National Bank of Chicago, "is running well in excess of the available supply of money." As a result, despite Federal Reserve pressure to keep borrowing costs low enough to stimulate the economy, interest rates on corporate and municipal bonds have climbed back to a point close to their 1966 peak. As the money pinch began easing late last year, yields of Aa-rated corporate bonds dropped from September's 6.35% zenith to a low of 5.20% by the end of January. By last week...
...TILFORD C. GAINES, vice president of the First National Bank of Chicago: "The President would be well advised to have a tax bill introduced in Congress. If it is not needed by August, he can let it die. But if it is needed, then all the committee work will be done. As for the economy, defense spending will level off some time in the next year, and this will have a depressing effect. However, right now all evidence points to a continued upward trend in the months ahead...
Asked about the present and foreseeable future of the U.S. economy, Chicago Banker Tilford C. Gaines was exultant. "The only words I can use," he said, "are 'excellent,' 'buoyant' and 'ebullient.' " Asked to write a pair of memos to Lyndon Johnson on the state of the economy, Gardner Ackley, chairman of the President's Council of Economic Advisers, had trouble finding any dark spots, replied mostly in superlatives...
...Need That!" Not everybody applauded Kennedy's stand. "If a reduction is justified next year, why not this year?" demanded Jones & Laughlin Steel Chairman Avery C. Adams. With a lemony frown, Chicago Banker Tilford Gaines asked: "When you want a martini, why torture yourself until the day after tomorrow?" But businessmen did not seem to want a quickie tax cut at the cost of losing the "long-needed tax reform" that the President promised for next year in both corporate and personal income taxes. Said Hotelman Conrad Hilton: "For many years, our tax structure has been based on social...