Word: pooling
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Dates: during 1970-1970
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...ceremonies began in steamy 90° sunshine with a religious service on the steps beneath Lincoln's massive statue. Some 25,000 people filled the calm and lovely setting below the steps and around the Reflecting Pool. Pat Boone sang the national anthem, Frank Borman gave a prayer, Kate Smith sang God Bless America. The speaker was Billy Graham, who called the nation to God and pleaded that it "stop the polarization before it is too late." At appropriate moments, or just for the fun of it, the children in the crowd waved their flags...
Wholesome Mélange. Some adults in the gathering carried placards: GOD, GUTS AND GUNPOWDER MAINTAINS LIBERTY and AMERICA WILL SURVIVE TRAITORS, TRASH AND PANTYWAIST POLITICIANS. Behind them, some 300 youthful protesters waded into the Reflecting Pool with shouted slogans, mostly obscene, of their own. For the most part the audience took their antics cheerfully. When police headed off some dissenters making for the speaker's stand, the crowd cheered, leading one protester to say: "My God, they would like to see my head cracked." Nonsense, retorted a bystander: "Just your mouth shut...
Costs of Goodwill. To the dismay of many acquisition-minded corporations, the accountants also tightened the conditions under which pooling may be used at all. From now on, companies may pool their assets only if the common shareholders of the smaller firm in a merger get at least a 10% holding in the merged company. Nor will merging firms be permitted to pool if the combination involves confusing packages of securities like convertible preferred stocks or warrants...
Toward dusk, as the shadows lengthen around the Royal pool, the reporters and diplomats talk. The joke is that if a rumor travels twice around the pool in substantially the same form, then it must be true. As night descends over the exquisite spires and curved roofs of the city, prostitutes aboard pedicabs come silently out of the shadows like butterflies beckoning for attention. The bars close early and the streets are soon deserted. At Madam Chum's, a few bleary-eyed Westerners smoke away their despair for 600 per pipe of opium. Geckos croak in the darkness...
...good many campers will settle for somewhat less. They want a flat place to park or pitch a tent (since portable gas refrigerators usually work only on the level), plus clean toilets and showers, and perhaps a swimming pool-at a price considerably below motel rates. To fill those needs, private campgrounds are opening all over the U.S.; they now offer about 427,000 individual campsites. As might be expected in a business where standards vary widely, the customer wants the additional comfort of a reliable chain's name. That in turn has led to the fast-growing business...