Word: cashing
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Dates: during 1960-1960
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...bonds with 4¼% interest, the legal maximum imposed by Congress, hoped to sell at least $500 million worth, offered up to $1.5 billion. Only $370 million worth was sold. Another offer of $2 billion in 25-month notes was oversubscribed, thus more than meeting the Treasury's cash needs of $2.5 billion. Said a top Treasury official: "The response to the long-term issue shows conclusively that we simply cannot sell in this market with this ceiling. It is important new evidence that we need to remove the ceiling if we are to manage the debt properly...
...Soliciting. While Abell lived, no Sun reporter ever got a byline, no advertisement was ever solicited-merchants had to walk in with the copy and the cash...
...Treasury last week took a bold step to raise cash. For the first time in more than a year it offered a new long-term bond, a 25-year issue with 4^% interest, the legal maximum imposed...
...Treasury will sell up to $1.5 billion, if possible, of the 25-year bonds, but privately will consider the issue a success if it sells only $500 million worth. With the new bonds, the Treasury will also issue $2 billion in 4% notes, thus take care of its major cash needs until mid-May. The Treasury thinks that the long-term bonds should sell well, since the yield on Government bonds last week was under 4¼%. But if the bonds do sell well, it will just about end the Treasury's hopes of getting Congress to eliminate...
...that tobaccomen can no longer sing, shout or advertise their superior claims to health protection, they are busy researching novelty in flavors, e.g., chocolate and peppermint. They are also using their cash reserves from high profits to diversify. Reynolds has already bought an aluminum-foil plant, Archer Aluminum, and Bowman Gray is looking for other companies to buy into, particularly in the consumer field. "We'd go into almost anything," he says, "except the mule trade." The industry looks to the future with confidence, not because it expects to be spared more crises?the next one could be definite proof...