Word: bankes
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Dates: during 1930-1939
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Interest (on bonds & bank loans...
From this operating profit of its first 102 days (82 days to go), the Fair paid $2,314,990 to a trustee towards retirement of its $26,995,000 of 4% bonds, and $1,659,665 to reduce a $3,500,000 bank loan. That left very little in the kitty. It had on August 2 about $1,613,000 of cash and accounts receivable, quick assets, which amounted to only about 40% of its quick liabilities. For the Fair had still to retire a $1,700,000 bank loan, had $4,113,000 of unpaid and past due bills...
Last spring Goodrich demanded a 12-14.8% wage cut, compromised on 5.7%. This spring it pruned interest, like U. S. Rubber, by getting a cheap six-year bank loan with which to retire $18,319,200 of 6% bonds...
...look for their first jobs. They met at noon at "Four Corners" in downtown Rochester, N. Y. Rob had landed a $10-a-month job as messenger for the Rochester Trust & Safe Deposit Co. Bill had a $10-a-month job as messenger for the Commercial National Bank...
Last week, contriving to avoid all the fuss & feathers they could, Rob and Bill celebrated their 50th anniversary in Rochester banking, Rob as president of Rochester Trust (third largest in town with resources of $42,540,898), Bill as vice president of the Lincoln-Alliance Bank & Trust Co., largest in Rochester and one of the 100 largest in the U. S. (resources, $86,487,946). That night they sat in honor seats at separate country-club dinners, smiled at many a twin-crack and went home early...