Word: discounted
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Dates: during 1930-1939
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...franc. Into Paris mailboxes vexed correspondents popped dire franc predictions. These, unopened, safely reached London, Brussels, Amsterdam. Everyone knew anyhow that gold was again in flight from France in the nearest thing to panic since last spring. Three successive uppings by the Bank of France of its discount rate failed to halt the flow. Instead it quickened. The radical parties opposing M. Laval redoubled what they call their politique du pire-tactics "to make everything worse & worse." As the Chamber of Deputies met after a five-month recess last week both the Socialist Populaire and the Radical Socialist...
...Herbert?are still alive and at the head of the firm, Salomon Brothers & Hutzler has always been known largely as a dealer in Governments, municipals, high-grade corporate bonds, bankers acceptances, short-term paper. Because the late Arthur Salomon originally hoped to model his firm on the big London discount houses, advertisements are always signed "The Discount House of Salomon Brothers & Hutzler," though the term is almost meaningless today. Its bond and paper business keeps it in constant touch with banks and institutions, and the Socony issue was placed last week without the aid of dealers or a banking group...
...Dutchmen fearfully wondered last week how often the Queen & Colijn may have to repeat a master stroke involving one-fifth of the nation's gold reserve. Amid Depression's typhoon, as the Dutch guilder is threatened in crisis after crisis, The Netherlands Bank frantically hoists its discount rate to 6% during the storms to attract as much gold as possible, then hastily reefs it down to 2½% during the lulls to give Dutch business the benefit of "cheap money." Inevitably such desperate sailing scares the passengers half out of their wits. Last week Premier Colijn, as Captain...
Meanwhile the guilder had been a target for bear raiders all week, plunged one day fully 1? off parity, as the Bank of The Netherlands raised its discount rate from 3% to 5% to 6%, and grimly paid out 1/9 of its gold reserves to Dutchmen who are perfectly at liberty to hoard. The week closed with the guilder still 84.8% backed by gold...
...John often would go with his father to the Register & Tribune office, perch himself on the desk of his father's secretary, Agnes ("Mac") MacDonald. spout a stream of questions: "What does so-&-so do? Is he smart? . . . What is that voucher for? Why is there a 2% discount marked on it? . . . How much does newsprint cost? . . . How fast can the presses turn out 1,000 copies? . . ." He was still asking questions when he rushed through Harvard (cum laude) in three years while taking Professor Charles Townsend ("Copey") Copeland's famed English 12 course and working...