Word: builders
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...setting up his famous trust, Empire Builder Cecil Rhodes had some sweeping ideas about what he wanted Rhodes Scholars to be. They must not, insisted Rhodes, "be merely bookworms." Their characteristics should include "fondness of, and success in, manly outdoor sports . . . qualities of manhood, truth, courage, devotion to duty, sympathy for, and protection of, the weak, kindliness, unselfishness and fellowship." Last week President Courtney C. Smith of Swarthmore, American Rhodes secretary, announced the names of the 32 Americans who are supposed to fill this awesome bill...
...newest and handsomest fellowships in the arts and architecture field were announced last week in Chicago by the $5,000,000 Graham Foundation for Advanced Studies in the Fine Arts. Aim of the new foundation, which draws its funds from the estate of bigtime Chicago Builder Ernest Robert Graham, who died in 1936,* is to give artists, architects and critics of already proved ability a year off to work on special projects of their own choosing...
...discount rate on loans to member banks was raised to 3%, the highest point since the 1930s. Home mortgage rates jumped from 4½% to a peak 6% in some areas. As housing starts slipped to 1,100,000 in 1956, down 200,000 in a year, builders loudly blamed the money pinch. But there were dissenting voices. They argued that another reason for the slide was that the industry had failed to meet the increasing demand for better houses, that the day of the roof-at-any-price was gone, and that in the future the builder would have...
...most of his six-year term General Paul Eugene ("Bon Papa") Magloire was a popular chief, a stabilizing force and a builder (TIME, Feb. 22, 1954). He sternly denied any ambition to be a permanent President of Haiti, but as the end of his term neared, he resolved to impose a manageable puppet in elections set for next April. But Haitians spurned what .amounted to another Magloire administration. Instead, they warmed up to Opposition Candidate Louis Dejoie, a well-to-do planter who promised a businesslike regime...
...builders-and fewer economists -look for much improvement from the new FHA rates. "The FHA move is a drop in the bucket," wired Levittown Builder William Levitt to President Eisenhower, adding politely, "but when your bucket is dry, even a drop tastes good." Low-interest VA and FHA mortgages simply cannot compete in the tight-money market where businessmen are paying interest rates of 5½% to 6% without a murmur. Even in the mortgage market itself, conventional, non-Government insured loans currently bring as much as 6% in many areas, are far more attractive to banks, life insurance companies...