Word: underwritten
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...share v. the $56 market price, a sharp cut below the $69 that Silberstein paid for some of the shares during his 15-month buying spree. To finance the purchase, which reduces Fairbanks, Morse outstanding shares to 1,072,000, the company will issue $15 million in convertible debentures, underwritten by Board Member Casey's investment banking house...
...SUBSIDY PROBE will reexamine mail payments to Pan American World Airways as far back as 1946. CAB says its general investigation of company (TIME, March 18) showed that "for the 1946-53 period alone Pan American's expense, underwritten with subsidy, may have been overstated by as much as $6,500,000." Agency also is pressing Pan Am to refund its $5,936,000 subsidy for Pacific operations...
Turning to deal with the Democrats, he needled Stevenson for the abortive charge that the Eisenhower Administration had underwritten Argentina's Dictator Juan Perón (TIME, Oct. 8). "For it was their Administration that had made these loans. Now they have fled from the scene in headlong silence ... to bury this issue, no doubt, somewhere far, far down the high, high road." The Democrats "urge a vigorous and realistic policy towards the Communist empire, and they suggest that we begin ... by trusting our national safety to agreements that have no effective safeguards and no controls. They urge...
...separating the sprinters from the stayers. It would also give a line on the potential ability of the following season's three-year-olds. Liberally backed by owners (who were required to shell out more than $2,000 apiece in nominating, eligibility, entry and starting fees) and underwritten for $100,000 by the Garden State Racing Association, the race overnight became the world's wealthiest...
...association of nations using the Suez would hire its own pilots, regulate traffic and collect the tolls. Egypt would be asked to cooperate, and would be paid for its contributed facilities. If Egypt refused to cooperate, the users would set in motion the grand plan of economic strategy, underwritten by the U.S. and described as the Suez Sea Lift (see NATIONAL AFFAIRS...