Word: businesses
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...economy last week and gently started loosening its credit reins. In the biggest buying since March, FRB went quietly into the open market, added $196 million to its holdings of Treasury bills (maturing in 90 to 92 days), thus released more bank funds for loans to busi ness. As one result, the highly sensitive Treasury bill interest rate dropped from...
...powerful Democrats as Baltimore Mayor Tommy D'Alesandro and ex-Governor William Preston Lane Jr. His second job: to beat a John Marshall Butler who is notably stronger than he was in 1950, who has won the solid support of Maryland's Governor Theodore McKeldin and the busi ness community by working tirelessly for Maryland's best interests, e.g., to rehabilitate Baltimore's shipbuilding industry...
East Pakistanis must transact official busi ness with Karachi in Urdu, the Western language, and not in their native Bengali. The United Front promised to do away with this "colonial status" and to speed up land reform with no compensation to the disliked landlords. East Pakistanis responded by voting the many-sided opposition local control of half of Pakistan. Mohammed Ali, a shrewd politician, had taken to East Pakistan's hustings in person to avert a rout, but not in time. This week he met Suhrawardy to lay the groundwork for settling East Pakistan's legitimate grievances...
...Even at a meeting of President Eisenhower's Cabinet, Secretary Weeks could not escape from the sales campaign. Three members of the Cabinet who used to be in the automobile busi ness (Defense Secretary Wilson, Interior Secretary McKay and Postmaster General Summerfield, all of General Motors) ribbed fellow Cabinet Mem ber Weeks about buying...
There were soft spots in the economy, too, and some of them seemed to offer a measure of support for the recession talk that was loose in the land. With farm income down, the farm-machinery busi ness slumped. The petroleum industry showed signs of overproduction; Sin clair Refining Co. and Phillips Petroleum Co. cut their crude-oil refinery runs 3 to 5% for September. Auto production fell moderately during August as auto makers began to feel the Hydra-Matic transmission pinch and output of 1953 models started to taper off in preparation for retooling for 1954. There was softness...