Word: ballast
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Dates: during 1960-1969
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...sail for home across the wine-dark sea. But when he had finished his boat, why did he cover the bilge with a layer of brushwood? Generations of scholars have sweated over the passage without producing a satisfactory answer. One theory holds that brush is only a mistranslation of ballast; some classicists argue that Odysseus was merely making a bed. A few despairing translators have ignored the brush entirely. Not until recently, when archaeologists learned to skindive. was the puzzling passage explained...
...Gold for Ballast. Saxon's wall shaker was a proposal to allow national banks to set up branches within 25 miles of their home offices, though laws in 34 states expressly restrict or prohibit branch banking, even by nationally chartered banks. Left at a competitive disadvantage, most bankers fear, state-chartered banks would immediately shift to national charters, and soon only a single, nationally supervised banking system would survive. This, they argue, would destroy the cherished "dual system" of banking, with its checks and balances against heavy-handed regulation. Saxon's argument: branching restrictions merely protect well-entrenched...
...railroad traffic agent, Toledo-born Jimmy Saxon started World War II as General Douglas MacArthur's financial attaché, saved $80 million in U.S. bullion from falling into Japanese hands on besieged Corregidor; he just loaded the gold aboard a U.S. submarine that happened to need the ballast. From private business and long federal service, notably as top aide to Truman's Treasury Secretary John Snyder, he has firsthand knowledge of how ineffectual Government policy can be. For five years before returning to Washington as Comptroller, Saxon worked the banker's side of the street as counsel...
...Weatherly in four" in the best-of-seven competition for the America's Cup. Weatherly was ready. Well tuned by the trial races that made her the U.S. defender, she lay in the ways at Newport Shipyard undergoing final polishing, then was set in the water for minor ballast shifts. At week's end her crew arrived to pace out the dwindling days before the meeting with the Australian challenger Gretel. By contrast, the Australian 12-meter lay inert under the hurried tread of a dozen shipfitters who had come aboard for final, perhaps desperate, changes...
...make sure that its center of gravity was correct. "This is a national project," said Sir Frank, and Aussies everywhere were caught up in the excitement. One company donated bronze, another turned it into screws at no cost, a third gave 20 tons of lead for her keel and ballast. Local manufacturers donated the crew's sweaters, shorts, and T-shirts...