Нами разработана программа факультативного
курса, предназначенного для учащихся 10-11 классов,
обучающихся по профилю «экономика», т.к. большую
актуальность приобретает формирование
экономического кругозора старших школьников
средствами иностранного языка. Это становится
возможным в условиях профильно-ориентированного
(экономической направленности) обучения
Коммуникативная цель обучения в пределах экономического профиля: формирование сверхбазового (углубленного) уровня коммуникативной компетенции в устных и письменных формах общения, а также овладение грамматическими структурами, характерными для научных статей и дискуссий.
Мы предлагаем тесты, экономической направленности, помогающие закрепить грамматический и лексический материал.
Put the verbs in the brackets into the correct form.
I Present Continuous or Present Simple
1) Economic condition(to change) all the time.
2) She (to work) in Rome at the moment.
3) Trade union power (to rest) on the ability to withdraw the supply ofnbsp; labour, that is, the strike weapon.
4) The large industrialized countries (to account) for a large proportion of international trade.
5) What we (to witness) now in many capitalist countries is a fundamental change in the traditional attitudes towards private enterprise.
6) Some economists (to emphasize) the role of profit as a necessary incentive for innovation.
7) They (to appraise) their employees once a year.
8)Sales (not/to increase) at the moment.
10) They (to start) a new sales compaign next week.
11) She (to come) tomorrow.
12) Profit (to play) an important role in determining the allocation of resources.
13) These products usually (to sell) for about five years.
14) What you (to do) this evening?
15) They usually (to hold) their European meeting in Paris.
16) At present we (to recruit) a new sales director.
17) He (to attend) a meeting now.
II Past Simple or Present Perfect
1) The classical economist (to regarde) money as no more than a medium of exchange.
2) The large scale transfer of ownership of industry from the public sector to the private sector (to lead) to an important increase in the individual
ownership of shares.
3) An Equal Pay Act (to come) into force in Britain in December 1975.
4) The Bank Charter Act of 1844 (to follow) a long dispute about the control of money supply.5) Up to now we (to test) five applications.
6) Bank-notes first (to come) into use in Britain during the seventeenth century.
7) The distribution of industry (to become) now a major feature of government economic policy.
8) In many countries economic development (to lead) to periods of rapid populating growth.
9) Last year the results (not/to be) very pleasing.
10) I (to attend) a meeting of that committee last week.
11) In resent years the government (to provide) financial assistance towards the costs of developments in micro-electronics, office automation, computer-aided design, robots and aerospace.
12) When you (to rich) the break-even point.
13) Resent years (to see) substantial changes in the occupational distribution of the labour force.
14) The human resources director (to say) that he would like to introduce a new working system.
15) Turnover (to increase) by 5 per cent this year.
16) The large-scale adoption of computer technology (to have) a dramatic effect on the work of the Stock Exchange.
17) Their unpaid debts (to reach) an unacceptable level.
18) There (to be) a tendency in resent years to move away from the rigit dinstinction between macro- and microeconomics.
19) The delivery (to avide) just now.
20) She (to work) in department for 10 years.
21) You (to choose) the advertising agency yet?
III Past Simple or Past Perfect
1) She (to say) she never (to be) in Italy.
2) By the 1930s the birth rate in Britain (to fall) to less than one half the rate experienced during the 19th century.
3) I suggested meeting again after we (to read) the proposals.
4) When the company (to join) the New York stock market, it (to be) already on the London market for 5 years.
5) Once the MD (to formalate) a new direction for the company, he (to waste) no time in putting it into effect.
6) It (to be) a tough winter. Three senior managers (to leave) when John Smith (to take) over.
7) The MD (to report) that the company (to have) a good year.
8) As soon as we (to install) the new line, productivity (to go) up.
IV Past Continuous or Past Simple
1) He (not/to see) anything while the meeting (to go) on.
2) While we (to discuss) cost cutting measures, the GM (to present) the poor results.
3) What (to do) at this time last month?
4) He (to work) for ABC when the merger (to take) place.
5) She (to read) a newspaper when the phone (to ring).
V Future Simple or Future Continuous
1) He (to walk) to school at 8 a.m. tomorrow.
2) Changes in the total population and changes in the age distribution (to affect) on both the total demand for goods and services and the composition of
3) An increase in price usually means that production (to become) more profitable.
4) The imposition of indirect taxes (to bring) about changes in supply.
5) She (to work) on her thesis for the next three years.
6) In a situation of full employment, the supply of most goods and services (to be) inelastic.
7) Economic theory indicates that, under monopoly, output (to be) lower and price (to be) higher than would be the case under perfect competition.
8) Changes in the rate of interest on government securities often (to affect) share prices.
9) Competition between firms (to lead) to the illimination of firms, which are unable to change their products and their methods of productions.
10) When population is growing fast, the proportion of people in the younger age (to increase).
VI Future Perfect or Future Perfect Continuous
1) I (to finish) all this typing by 5 p.m.
2) He (to walk) to school before you finish your breakfast.
3) He (to ride) his bike to school for two years by the time he graduates in June.
VII Past Perfect Continuous or Past Simple
1) He (to walk) to school before his father (to buy) him a bicycle.
2) Carol (to work) very hard, so her doctor (to tell) her to take a vacation.
3) We (to plan) to vacation in Pennsylvania but (to change)our minds when so much of it got badly flooded.
VIII Open the brackets and use the verbs in Present Perfect Continuous
1) The demand for bread (to decline) in Western Europe for several years.
2) The drift of the population and employment to the suburbs (to go) on for a long time.
3) We (to develop) this product for three years.
4) Sales (to fall) recently.
5) We (to test) five new applications since the beginning of the year.
6) She (to live) in Seattle for 6 years.
7) He (to walk) to school for several years now.
8)In recent years a large volume of short-term capital or "hot money" (to move) from one country to another seeking greater security or higher interest rates.
Open the brackets and use the verb in the appropriate form of the passive voice.
1. Most government securities are marketable and may (to buy) and (to sell) on the
2. The precious metals first (to use) as money on the basis of weight.
3. Many books (to read) by few people.
4. The answer (to know) to all of us.
5. It is (to assume) that he will announce his candidacy soon.
6. She (to give) some bad advice about selecting courses.
7. At the end of the summer they (to marry) for 10 years.
8. This question (to raise) at the last meeting and no conclusion was reached then.
9. At this stage the raw materials (to load) into this container.
10. A personnel manager (to appoint).
11. These products (to design) by a special team.
12. Protective clothing must (to wear) at all time.
13. Based on the total figure, it appears that an error (to make) in the budget.
14. The price of a product (to determine) by the interaction of demand and supply.
15. Raw materials and agricultural products usually (to sell) in open markets, where the influence of cost on supply (to pronounce) much less.
16. The gradual trend towards larger enterprises (to confine) to manufacturing industry.
17. Each individual firm may obtain its components and other requirements at relatively low cost because they (to produce) for the industry.
18. Units of production (to refer) officially to as establishments.
19. When the various statutory documents(to submit) to the register and duly (to accept) by him, he will issue a Certificate of the corporation, which
bestows upon the company a separate legal identity.
20. The ordinary shareholder (to entitle) to the residue of profits after all other claims (to meet).
21. The ordinary share capital of a company (to refer) to as the equity of the company.
22. Prices (to determined) by supply and demand and the willingness to buy and sell is subject to many influence.
23. Countries often (to described) as underpopulated or overpopulated.
24. The output of agricultural products (to affect) seriously by variations in weather conditions.
25. The management knew what prices (to ask) for the commodity in every part of the market.
26. The legal control of monopoly (to extend) substantially and modified since the first legislation in 1948.
27. If we assume that the stock of capital (to increase) relative to the stocks of the other factors of production, the returns to capital will be diminishing.
Open the brackets and use the verb in the right form.
1.A country (to wash) to limit its population may discourage immigration and courage emigration.
2. (to increase) concern has been expressed about the continued growth in world population.
3. If land is defined as the total surface area of the planet, (to including) oceans, lakes and rivers, than its total quantity is fixed.
4. The persons (to form) a company are required to submit several documents to the Registrar of Companies.
5. Loan capital is more appropriate to firms (to operate) in stable markets.
6. In addition, the University will continue to have graduate students (to work) with them on research projects.
7. Industries (to produce) steel, paper and chemicals require very large quantities of water and tend to be found near rivers.
8. In advanced capitalist societies, advertising is a powerful instrument (to affect) demand in many markets.
1. (to explore) the possible relationship between capacity and expected output, we not examine the behaviour of costs as actual output changes.
2. (to examine) the relationship between outputs and costs, we not show how the behaviour of cost may be reflected in the supply curve.
3. (to learn) the first law of supply and demand (i.e. more is demanded at lower prices), many students then automatically associate an increase in price
with a fall in the quantity demanded and vice versa.
4. (to obtain) the necessary results, we stopped our experimental work.
5. (to calculate) the programme, he paid attention to possible changes.
6. (to repair), the device began (to work) much better.
Translate the absolute participle constructions into Russian.
1.Other things being equal, an increase in wage rates will increase the cost of labour
relative to the costs of the other factors.
2. The production of the Liberty ships showed similar effects, the first taking many months to build and the last only three days.
3. In order to simplify the analysis we can consider two firms, one being representative of high – cost producers and the other of low – cost producers.
4. Most industries make use of a variety of machines, each machine carrying out a different operation.
5. The principle of action being rather simple, the new device was widely used for different purposes.
6. The selling price must relate to the production cost, which in turn, depends on the quantity sold, this quantity being dependent upon the sales price.
7. It being too late, they decided to stop working.
8. Other things being equal, the demand for a commodity will tend to very directly as the price of its substitute.
9. The installation was atomized last year, its capacity rising by 20 per cent.
10. All the problems having been solved, they went home.
11.The goods having been loaded, the dockworkers left the port.
12. Members nations are required to subscribe to the capital stock of the World Bank, each being given a quota, which is related to the member’s national income and position in the world trade.
Translate from English into Russian.
1.The quantity of labour derived from a given stock of population depends upon several
2. Put simply, a business process is the set of activities performed to serve a customer.
3. Taxes placed on goods and services are known as indirect taxes as opposed to direct taxes witch are placed on income and wealth.
4. The information obtained is very valuable.
5. Data transmitted during flight are usually provided to the experimenter on magnetic tape.
6. The hose restored by the Johnsons is quite unusual.
7. Exhausted from the long hike, he decided not to go to the party.
Translate from English into Russian.
1. Discounting is the process of buying a security for less than its face value.
2. So far as temperature is concerned, Britain is fortunate in having warmer winds than any other district in the same latitude.
3. We discussed opening a new business.
4. He risks loosing all of his money.
5. His taking part in the development of the new system was a great help us.
6. We knew nothing about his being sent to London.
7. We knew nothing about his having been sent to London.
8. I heard of the experiment having been stared last month.
9. The control of the money supply is probably one of the most important instruments for regulation total demand in an economy.
10. Funding is the way of reducing thesupplies of liquid assets available to the banking system.
11. By increasing the minimum deposit and reducing the period allowed for repayment, the government has a quickacting method of reducing the demand
for consumer durables.
12. The increase in government spending and borrowing will have some effect on the rate of interest.
13. Most Western countries have experienced a sharp slowing in the rate of population growth in recent years.
14. We have succeeded in entering a new competitive market.
Translate from English into Russian.
1. The purpose of each business process is to offer each customer the right product or
2. More than 200 years ago, the economist Adam Smith formulated a theory to describe industrial practices that were already centuries old.
3. Man has for a long time known that complicated things are easier to understand if they are visualized in some way, not just described in books.
4. There are nation-wide schemes to encourage industrial investment.
5. To obtain a Stock Exchange listing, a company must at least 25 per cent of its shares held by public.
6. In order to create a supply of loans, people with the necessary financial resources have to be persuaded to loan.
7. Efforts to increase the productive capacity of the poorer nations will only be effective if these nations are able to increase their exports.
8. The employers agreed to accept the terms of the pay deal.
9. At the last moment they decided not to continue with the negotiations.
10. It is important to carry out these changes as quickly as possible.
11. To encourage our employers to develop their skills is one of the prime concerns of management.
12. To enter this market requires a lot of hard work.
13. We have decided not to advertise this position, but to recruit internally.
14. I am glad to inform you that you have been successful.
15. It is impossible for us to accept these terms.
16. We would like to extend our overdraft facilities.
17. The sales director claimed to have found three new customers.
18. Wage increases have helped to push up prices.
19. After the acquisition they didn’t dare (to) replace the whole management team immediately.
20. The advanced countries provide technical experts to advise and assist the developing countries in their efforts to achieve growth.
21. Once the volume of goods to be distributed reaches a certain point, the firm may be able to reduce its costs by establishing its own distribution fleet
instead of hiring transport service.
22. Selling in bulk may enable savings to be made in invoicing and other costs.
23. The equipment to be installed will need more monitoring.
24. The engineers must test the system to be used.
25. The designers selected all the units to be tested in the experiment.
26. The preceding discussion would seem to indicate that there are substantial net advantages to be obtained from increasing the size of the business unit.
27. Another fact to be borne in mind is that some of these rations only apply to domestic output.
28. One of the fundamental decisions to be taken by entrepreneurs concerns the geographical location of their enterprises.
Translate the objective infinitive constructions into Russian.
1. We expect him to solve this problem.
2. I don’t consider him to be a good manager.
3. I know her to have graduated from the university three years ago.
4. The manager considers the results to be unsatisfactory.
5. I want him to leave.
6. We expect John to be elected.
7. We want them to introduce the changes as soon as possible.
8. We expect interest rates to rise next week.
9. The scientists expect this effect to be relatively small.
Translate the subjective infinitive constructions into Russian.
1. The new manager is said to work 12 hours a day.
2. The free market economy is said to be more flexible.
3. Three people are reported to have been injured in the explosion.
4. The strike is expected to end soon.
5. Complementarity is said to exist when an increase in the quantity of one product sold leads to an increase in the demand of another product.
6. Consumers are assumed to wish to maximize their utility of satisfaction.
7. Firms are assumed to maximize their short – run profits.
8. When an increase in the scale of production yields a more then proportionate increase in output, the enterprise is said to be experiencing economies of
9. The train was supposed to arrive at 7 o’clock but it was half an hour late.
10. Many people are reported to be homeless after the floods.
11. The building is reported to have been damaged by fire.
12. The company is said to be losing a lot of money.
13. Goods which are close substitutes for one another are said to be in competitive demand.
14. A good is said to be composite demand when it is demanded for several different uses.
15. The capitalist system is said to be based upon the principle of competition.
16. Consumers are assumed to maximized the satisfaction derived from the goods and services that they buy.
17. Firms are assumed to know what quantity of each product they would sell.
18. Consumers are assumed to be aware of all the goods and services they could buy.
19. The total value of international movements of capital is thought to be at least ten times the value of world trade in goods and services.
1. A small firm is likely to be specializing in one product.
2. The larger firm is likely to have a diversified market structure.
3. An increase in the output of capital goods is likely to mean that the current consumption of goods and services is less than it might have been.
4. “Ownership” of labour is likely to be highly unpopular politically.
5. The limit to output is most likely to be determined by the quantity of capital inputs.
6. The balance is most likely to swing towards installing additional capacity under the following circumstances.
7. The larger firm is more likely to be able to employ buyers who are experienced in buying particular products.
8. Horizontal growth is unlikely to give rise to those risk-bearing economies which depend upon a diversified range of activities.
9. Diversified growth is more likely to give rise to risk-bearing economies.
10. In fact demand is likely to be highly elastic when the market is depressed.
11. Even if market demand is inelastic, the demand for the product of a firm which increases its price is likely to be highly elastic.
12. The reasons for this is that rival suppliers are likely to maintain their prices in the hope of attracting customers from the higher-price firm.
13. Price reductions are most likely to occur if they can be concealed from competitors.
14. Price is likely to be held stable during the pricing season over quite a wide range of output, both greater and less than expected.
15. If the original profit margin was not considered to be adequate and demand is less than expected the response is likely to be as before.
16. But when demand turns out to be greater than expected suppliers are likely to take the opportunity to improve their profit margins.
17. As we noted above, firms are likely to be most confident about rivals’ responses, i.e. to be able to exercise control over price, in highly concentrated
18. Initially price is unlikely to fall in response to fall in demand.
19. The effect on an increase in output is likely to be most pronounced when the economy as a whole is operating near full capacity.
20. Each of these different machines is likely to have a different capacity.
1. The aim of convertibility proved difficult to achieve.
2. The management seem to be moving in the right direction.
3. The two sides appear to have solved the problem.
4. Since that time the market share of these larger companies does not seem to have increased.
5. These studies seem to indicate that the size structure of plants in British industry is such that they are able to take advantage of such scale economies as are available.
6. Many mergers appear to have been motivated by a desire to increase market power rather than by a desire to increase efficiency.
7. The poor performance of the collective farms in the USSR in the early years of centralization appears to have been an important factor in the decision to maintain some private ownership of land.
Fill in the blanks with the following modal verbs: can, could, may, might in the positive or negative form.
1.Our new bottling machine … fill 1000 bottles per hour.
2.The level of accuracy in measurement … differ very widely.
3.There was no delivery yesterday; so they … have arrived then.
4.Next year, after Peter Barnes finishes his training programme, he … take over the control function.
5.Next year we … launch asales campaign in Japan.
6.They … deliver on time.
7.When I worked for ABC Group, only the purchasing manager … authorize the purchase of office equipment.
8.By this time next year we … still reach target sales.
9.It’s a company rule-personnel … smoke in the company canteen.
10.They … have at least paid the postage.
11.… I suggest that we postpone this matter till later?
12.We … certainly review the manning levels in this meeting.
13.She … have finished the entire assignment yet.
14.We are having a good year and sales … exceed our forecast by 15percent.
15.… I help you?
16.We have no idea what … happen to their next deliver.
17.When I worked there, personnel … smoke anywhere in the compound.
18.… I interrupt the discussion to report the latest news?
19.… I make a comment at this point? – Yes, of course you may.
20.If you don’t deliver today, we … certainly deliver tomorrow.
21.When I worked there, only supervisory staff … buy produce from the company shop.
22.Because of the good results, we … bring the investment forward.
23.… I speak to Peter Franks, please? – Yes, I think he … be back from lunch now.
24.… I speak to Paul Griffits, please? – I’m afraid you … . He is in a meeting at the moment.
25.Only employees … buy produce from the company shop.
26.There seems to be something wrong with the account. – Yes, I think the auditors … have overlooked the interest
payments we received.
27.The components arrived three weeks late. It wasn’t their fault. Those problems … happento anybody.
28.If we replace our present agent we … still reach target sales.
29.When I was area manager, I … visit five customers a day.
30.This is a danger area. Employees … not enter this area without protective closing.
31.They sent the goods two weeks ago; So, they … have arrived by now.
Conditionals. Put the verbs in brackets in the correct tense and say if the conditions are real, unreal, referring to the present (future) or unreal referring to the past. Translate the sentences.
1.If incomes (to rise), the demand for most goods and services (to tend) to increase.
2.If the price of buffer (to fall), the demand for margarine (to fall) probably.
3.If the supplier of such a commodity (to be) to raise the price, many buyers (to turn) to the close substitutes.
4.If I (to be) in city, I (to attend) his lecture.
5.If the consultant (to do) more careful research, he (to identify) the gap in the market.
6.If the market for our products (to expand), we (to have) a 20 per cent increase in turnover next year.
7.If I (to know) that I (not to say) anything.
8.If we (to increase) production volume, we (to benefit)from a more economic batch size.
9.If wages (to rise), unemployment (to increase).
10.If we (not to install) new equipment, we (to become) uncompetitive.
11.If we (to install) new equipment, we (to become) more competitive.
12.If we (to install) the equipment, we (to become) more competitive.
13.In case we (not to reach) the break-even point within six months, we (to have) to ask for another bank loan.
14.Unless we (to reach) break-even point within six months, we (to have) to ask for an other bank loan.
15.If the agent (to be) to default on the agreement, we (to take) legal action.
Turn into Reported Speech.
1.He says: “Next year will be a difficult year.”
2.He promised: ”The machine will be installed next Wednesday.”
3.He said: ”We reached the agreement”
4.The representative of the firm said: “Our terms of payment are acceptable to us.”
5.The President said to the secretary: ”Don’t contact Brown&Co today, please.”
6.Mr. Harris said: “Our goods are in great demand now. We cannot reduce our price.”
7.The secretary said: “I’m sorry, the President is out now.”
8.Mr. X said: “What time have you made an appointment with a representative of a foreign firm.”
9.Mr. X asked the representative of a foreign firm: ”At what price your company sells power equipment?”
10.Mr. X said: “What can I do for you?”
11.“Every passenger goes through the Customs when he comes from abroad,” said the Customs official.
12.“Who gave you instructions to get the materials ready?” asked the director.
13."I'm very glad to do business with your firm," Mr.Smith said to us.
14.They said to us: “Please, ship the goods before the 1st of December.”
15.“Do you always stay at the Metropol Hotel when you come to Moscow?” the secretary asked Mr. Grey.
16.“When does the hotel restaurant serve dinner?” Mr. N asked.
17.“I have a single room with a bath for you,” said the receptionist.
18.“Who must I phone to have my suit pressed?” he asked the porter.
I. Fill in the gaps with words from the list below.
administrate commerce corporate involve launch
merge phase prosper takeover white-collar
- How many people are … in marketing the new product?
- The latest model of our electric car will be … on 1 January 20__.
- When a firm begins to do badly on the stock market, plans are often made to change its structure.
- The management of contemporary corporations requires people who know how to …
- Despite the problems in our sector our company expects to continue to … in the next twelve months.
- Hong-Kong has always been a centre of …
- Giant companies which have been successful in the past have normally … with their closest rivals.
- In the course of the history of our company we have gone through several … of development.
- After a brief slump in annual growth they were … by a major competitor.
- In order to deal with all the additional paper-work we need to expand the … staff by several hundred.
II. Fill in the gaps with words from the list below and retell the text.
to have talks; buyers; to contact; representatives; offers; to be interested;
to make appointments; acceptable; to be in great demand; to do business
Russia does … with different countries of the world. Every
day our Ministry receives … and enquiries from different firms.
Our goods … and we have a lot of … in different countries now.
They … in buying our equipment and raw materials. They send
their enquiries to our country or their businessmen come here …
with our …
When they come to our country they usually … different
offices of our Ministry and … and with our businessmen.
During the talks they discuss different questions with them.
When our prices, terms of payment and delivery are … to them
we make contracts.
III. Complete the following sentences using suitable words or phrases from the box bellow.
|managing director||colleague||junior executive|
1. The group of executives working below the top managers are generally called …
2. Valerie is an important person in our company. She is a member of the Board of …
3. Peter, a recent university graduate, has been with the firm for a year. He is at present a … and is being trained for a managerial position.
4. Their … is expanding rapidly. They now have over 5000 employees.
5. At least 50% of our … have been with the company over ten years.
6. … in an organization generally have more fringe benefits than lower-level managers.
7. We are a small group in the Research and Development Department. Fortunately, I get on well all my …
8. Our telephone operators work under the direction of a …
9. I work under Mr. Brown. He is my …
10. Sheila and Tom work under my authority. I am their boss and they are my …
11. I am responsible for … training and development.
12. A … is a person of high rank in an organization, usually next in importance to the Chairman.
IV. Look at the terms in the left-hand column and find the correct synonyms of definitions in the right-hand column.
|a) chiefly, principally
b) function in, work in
d) a company having more than half of its stock owned by another company
e) increase the dimensions of
f) growth; expansion
g) see, look at
i) a step in development
j) a type of business organization formed by an associations of stock holders
XII. Insert the definite or indefinite articles where it is necessary.
1.We thank you for … enquire for … power equipment of 10th of December.
2.… prices are too high. I’m afraid we cannot accept … offer.
3.I hope you’ve had … good time at … holyday-home.
4.We came to Petersburg on Saturday. …next day we went sightseeing.
5.What tie have you made … appointment with … representative of “Parker & Co” for?
6.During … talks we discussed all … terms of … contract.
7.We had … talks with them … other day.
8.We must have … first shipment of … goods in September.
XIII. Fill in the gaps with articles where it is necessary and retell the text.
Mr. Buck, … director of “Gordon & Co”, sent us … cable
To let us know that he was flying to Moscow. So on Friday Mr. Belov, … engineer of our office, went to … Sheremetievo airport to meet him. That day … weather was very bad in Moscow. It was afraid that … plane would not land in … bad weather, But it was … TU-154 and it safely landed. When Mr. Buck had gone through … customs they went to … National Hotel as Mr. Belov had already reserved … single room for him there.
… next day Mr. Buck came to … Ministry and we had … talk with him. … fact was that they were interested in buying mining equipment, and the previous month we had sent them … quotation of … equipment. So Mr. Buck said that … mining equipment met … requirements of their customers and that they wanted to place order with us. But Mr. Buck wondered if we could reduce … prices. … director of our office said that he would have a word about it with … President and that he would be able to give Mr. Buck … final reply … next day.