Word: bank
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Dates: during 1950-1959
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...Maine, at the urging of Charles F. Phillips, president of Bates College, a New England Higher Assistance Foundation has been chartered to guarantee repayment of bank loans to students. The Foundation's goal is to raise $50,000 in the form of contributions from Maine industrial firms and although the Foundation as now set up proposes to aid only Maine residents, Phillips hopes to extend it to cover all New England...
Established last year by the Massachusetts legislature for the purpose of making low-interest, long-term bank loans available to qualified college students, the Corporation's approval of loans submitted by the banks carries with it a guaranty of 80 per cent of their value...
...indexes, the Federal Reserve saw no cause for alarm, nor did it see any reason to spur business by easing its tight money policy −at least for the moment. The Fed has helped to check inflation, said President Alfred Hayes of New York's Federal Reserve Bank, but it cannot risk relaxing credit restrictions while living costs continue "their seemingly inexorable rise." When the proper time comes, said Hayes, the Fed will "work the other side of the street." As for businessmen, General Electric President Ralph Cordiner reflected the feelings of many when he reminded the U.S. that...
...models. Hertz will buy (for cash) 19,737 autos, three-quarters of them from General Motors, also plans to buy another 11,000 after April 1 for $33.5 million more. To swing deal, Hertz will sell 15,000 of its 1957 cars for around $35 million, boost its revolving bank credit from $50 million to $65 million...
...Government's biggest defense contractor, with a $2.1 billion backlog of orders. Boeing faces the deferment of more than $350 million in payments due for the rest of fiscal 1958. If the Air Force sticks to its new schedule, and the company cannot expand its $100 million bank credit, Boeing will be forced into a major production slowdown, says senior Vice President Wellwood E. Beall. Boeing is already closing its 1500-worker plant at Everett, Wash.; it has chopped employee overtime, temporarily abandoned a new preflight hangar at Moses Lake, Wash., reduced its shop supply inventory, and cancelled...