Word: tap
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...Treasury's new long-term issue was designed to 1) help relieve the U.S. of its constant sorties into the money market to refund short-term issues, and 2) provide a safeguard against more inflation by boosting loan rates all around and by tapping savings as they accumulate in life-insurance companies, pension funds and savings banks. The new bonds would also probably tap some money that would normally go into the stock market...
Some 80 years after its introduction, Yale's Tap Day has been abolished...
...Tap Day took its name from the event in May when Yale juniors crowded into Branford Court, in expectation of being tapped on the shoulder by a member of one of the societies. A "tapped" man was one who had been offered an invitation to join...
Though the societies and their activities were considered "sacrosanct" in the '20's, criticism, especially of Tap Day, increased in recent years. Some members of the societies themselves were among the most annoyed by the method of elections. One advocated eliminating "this spectator sport which makes Yale the annual laughing stock of other universities...
...Dink Stovers who went to Yale after World War II seemed unable to take Tap Day too seriously. Many found it humiliating for the hundreds of juniors rejected; some found the etiquette of the societies ludicrous (in theory, a member hearing his society's name mentioned among outsiders was supposed to leave the room). Finally last week, Yale's Senior societies quietly came to a decision. After 75 years. Tap Day was abolished. Just how the societies will elect members from now on, no one yet knew. Said the Yale Daily News: "Tap Day was not a great...