Word: cashing
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Dates: during 1960-1960
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With a single-mindedness so intense that one participant described it as "ferocity," Anderson brushed aside the promising beginnings of the new billion-dollar German foreign-aid program (TIME, Nov. 28). Foreign aid, he told Adenauer and Erhard, was "not urgent"; what the U.S. needed was cash, and it needed it faster than any foreign-aid program could deliver. Anderson followed this up with further demands that Germany 1) start paying immediately a good part of the U.S.'s present share (37%) of the cost of jointly run NATO facilities such as pipelines, depots, etc.; 2) start easing immediately...
Helpful ERMA. The Bank of America aided by the Stanford Research Institute' started out by developing what it calls ERMA-Electronic Recording Machine Accounting. General Electric put the sys tem together, hitching components from National Cash Register Co. and Pitney-Bowes to its own computer, which it programed to process checks and do bank bookkeeping. To mark checks for use in the system, the Stanford researchers devised a set of stylized Arabic numerals* printed them in magnetic ink so that no matter how a check is folded or crumpled the numbers can still be read by ERMA. Subsequently...
...some depositors, all this efficiency will have one drawback. Since the clearing of checks will be greatly speeded up, it will no longer be possible to write out a check and wait for a day or two to deposit the cash to cover...
...period before Christmas vacation is always marked by an increase of robberies, Matthew J. Toohy, Captain of University Police, has warned. He urges students to be particularly careful when carrying large sums of cash and to lock the doors to their rooms...
Until then a history major, she switched to economics the following year, pursued the subject with an obsession that earned her a Phi Beta Kappa key as a junior, every cash prize open to economics students ("I went out for them because we needed the money") and graduation magna cum laude in 3½ years. But Sylvia was not around to collect her diploma. "The point is the winning, the achievement," says Sylvia. "Being there didn't matter. I had no compulsion to say, 'Look...