Word: boost
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Reflecting the growing importance of West Germany in the NATO alliance, General Adolf Heusinger, 63, top officer in the German armed forces, was named chairman of the NATO permanent Military Committee in Washington. The Germans also agreed last week to boost their contribution to the cost of NATO facilities (pipelines, depots, etc.) from 13% to 19%, enabling the U.S. to cut its share from 37% to 31%-an estimated annual saving to the U.S. of $15 million...
...industry has given Ireland's economy a big boost. After years of stagnation, the gross national product is now growing at an annual rate of 3.5%. Exports, which amounted to only $310 million in 1955, are expected to pass the $450 million mark this year. The increase in industrial exports has narrowed Ireland's trade gap from $271 million in 1955 to an anticipated $224 million for 1960. As the pace of industrialization quickens, the Irish hope to close the trade gap entirely...
...Boost from the Fed. Looking ahead, Beise hopes to realize one of banking's cherished dreams: to abolish the paycheck. By teaming up IBM 7070s with ERMA, he plans to credit his bank employees' wages directly to their accounts, hopes the scheme will appeal to other companies for which his bank handles the payroll. Asks Beise: "Instead of printing checks for a company, which the employee has to deposit, why not print deposit slips...
...more widespread automation becomes, the better it will work. It will get a big boost from the Federal Reserve System, which is starting to convert its check clearinghouses in New York, Philadelphia, Chicago, Boston and San Francisco to automated systems. The Fed is expected to pressure other banks diplomatically to fall into line, start using the preceded magnetic-ink checks...
...UCLA as a result of a similar invitation. The trip was such a booming success that, as one Dartmouth player said to a Harvard club official last Saturday, "Rugby is just as popular as baseball at Dartmouth now." The trip for Harvard comes at a time when an extra boost for the club could make rugby at the University the success that it almost has been in the past...