Word: underwritten
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...forth from Tam O'Shanter's modernistic, Muzak-wired clubhouse (228 employees, a rash of bars, a swimming pool), Promoter May made occasional rounds of the course with a happy, proprietary air. Far too lavish to make a profit, the tournament's whopping deficit is being underwritten by May's firm of efficiency experts (680 staffers, $8,000,000 yearly sales), which will efficiently charge it off to promotion and publicity. Onetime Bible Salesman May got into golf because so many of his business prospects were found on tees. His fortunes have not always been...
...City Is Dark tells its story leanly. The script is crisply underwritten, the photography has a raw, grimy look, and Andre De Toth's direction is skillfully paced for tension. In its harsh images of a bank holdup, a gangster hideout and homicide headquarters, and in its soundtrack teeming with the discordant sounds and gritty lingo of the underworld, The City Is Dark is a muscular little thriller that carries more conviction than many more high-toned movie melodramas...
...project, an English translation of the Torah Shelemah. The first volume, which covers only the first chapter of Genesis, is being put on sale this month (price: $10). The others will appear as soon as the volumes of the Hebrew Torah Shelemah can be translated. With his project now underwritten by a committee of U.S. Jewish laymen, Rabbi Kasher, 57, works 16-hour days in his Manhattan study to get new volumes ready, and he is helped by a corps of assistants in Israel and New York. But finishing the Torah Shelemah will take time. Estimated publication date...
...Steel Corp., for $7,600,000. Eaton turned the paper over to a new corporation, Cincinnati Enquirer, Inc., set up by the employees. Portsmouth Steel will hold two notes for $6,350,000 and $1,250,000 until they are paid off by the employees through a bond issue underwritten by Halsey, Stuart & Co., investment bankers, and a stock issue backed by Cincinnati brokers...
...case has cost the defendants-and U.S. taxpayers-millions of dollars. The issues at stake are huge; if the Government wins, there will be what one expert called a "revolution" in the U.S. money market. Since the firms on trial handle the bulk of all negotiated underwritten security issues, a decision against them would permit the Government to lay down rules to change virtually all investment-banking procedures. Last week such possibilities seemed remote; it was plain that the Government's case had been shot full of holes...