Word: defaulters
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Dates: during 1960-1969
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...million to Chile) are not meant to be spent but to give a psychological lift to a currency threatened by inflation or devaluation. But further than that Waugh will not go, or even look. "I'm a lender, not a giver," he says, and he proudly claims a default rate of less than 1%. The bank has reserves of over $600 million, and an uncommitted lending balance of more than $2 billion...
Hurricane Hazel leveled most of the coconut palms in 1955. Bostonian Sumner Smith, who got title to the Swans by default in 1950 after his partners in the trading company dropped out. says: "Maybe, some day, somebody will think of something to do with them." Though lined with lovely beaches, the islands are far off the tourist track and have almost no fresh water. In their spare time, the recent U.S. explorers collected butterflies, iguanas and a variety of legless lizards. They found no swans, however; the islands take their name from an English pirate, and swans are as hard...
...much inventory, falling into ill-advised deals. He sometimes makes bad guesses: he backed Sydney Albert's overexpanded Bellanca empire before it collapsed (TIME, Oct. 22, 1956), soon after was hit by two frauds totaling $2,200,000 -though both losses were cut heavily by insurance. But his default record has averaged a low one-tenth...