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...have given Continental an enormous potential for gain. The company, knowing it could not lose, could have speculated heavily in wheat futures. Its officials could have quietly instructed their agents to buy all the wheat they could at the low prices then in effect, but hold off their subsidy payment claims until the export subsidy rose. The subcommittee's small staff had gathered no evidence that Continental had done any such thing-but no one thought to ask Palmby about it. Earlier, Purcell's subcommittee had allowed Agriculture Secretary Earl Butz to avoid any discussion of specific market...

Author: /time Magazine | Title: AGRICULTURE: The Wheat Deal (Contd.) | 10/2/1972 | See Source »

...money earmarked for very general purposes, such as health or transportation, and could spend the money on any programs they pleased within that limitation. By contrast, under "general revenue sharing," which has just gone into effect, there are no restrictions at all on how the money can be used.) Payment of the promised $16 billion a year for schools and property-tax relief would almost certainly be long delayed or would have to be financed...

Author: /time Magazine | Title: ISSUES: Nixon's Second-Term Plans | 10/2/1972 | See Source »

There are many more problems connected with money than simply not having enough of it for the next rent payment. Both the affluent and the aspiring need to know not only how to make more but also how to handle what they have. Working on that hypothesis, Time Inc. this week introduces a new monthly magazine: MONEY...

Author: /time Magazine | Title: The Press: MONEY Matters | 10/2/1972 | See Source »

...such a clear day, thunder rumbles in the hills. Fran Klug rubs her eyes. But it does not take a sign to confirm the faith of her followers. They have already formed a corporation for Fran's "Hill of Hope" and have raised the $100,000 down payment on a $1.1 million purchase of its 440 acres...

Author: /time Magazine | Title: Religion: Mrs. Klug Speaks for God | 9/25/1972 | See Source »

...Boeing Co., which will collect a cool $125 million from Peking for ten of its workhorse 707 jets, including spare parts and training for pilots and maintenance men. As befits a first-time deal, the terms were strictly cash and carry: the Chinese agreed to a 30% down payment and will pay the rest by the time they take delivery of the last craft in about 20 months. Most other foreign buyers of U.S. jet fleets expect long-term financing...

Author: /time Magazine | Title: EAST-WEST TRADE: China's Shopping Spree | 9/25/1972 | See Source »

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