Word: discount
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Dates: during 1950-1959
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Wake Off. In Los Angeles, the Utter McKinley mortuary chain (14 conveniently located parlors) sent to city employees wallet-sized lavender cards that said: "Bearer or any member of his family is entitled to a courtesy discount...
...Monroe bantered breathlessly with windswept Chicago newsmen on a potpourri of familiar topics. On underwear: "I have no prejudice against it." Sex: "How do I know about man's need for a sex symbol? I'm a girl. Sex counts like everything else. I'd never discount it." Press conferences: "Occasionally it's fun. Sometimes I can even get a chance to find out what I'm thinking...
...surprise, because only one day earlier, Federal Reserve Board Member M. S. Szymczak told a Washington audience that the Fed might have followed a tougher money policy were it not for the 4,700,000 U.S. workers still unemployed. His remark was interpreted to rule out any quick discount hike, and the bond market spurted up on the strength of it; after the announcement, the market slipped back again...
...Treasury has been forced to hike interest rates on-its short-term Treasury bills to above 2½%, thus tempting commercial banks to "play the spread" by borrowing money from the Federal Reserve at 2½% and putting it into Government securities that yield more. The Fed's discount-rate increase will stop this practice, was timed to take place between Treasury financings so as not to upset the market...
...shares daily, Dow-Jones industrials hit a peak of 611.87, or 175 points above the 436.89 low of a year ago. Not even tough news could jolt it. The index gave up only 2.35 points on the Federal Reserve Board's discount-rate hike (see above), closed...