Word: borrower
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Dates: during 1930-1939
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...these was an amendment to the 1934 Housing Act intended to encourage building by making it easier for prospective home builders to borrow private funds guaranteed by the Government. This was proposed by the President (TIME, Dec. 6). The other, started by Congress on its own initiative, was revising the undistributed profits tax-for which the President said he was ready whenever Congress was. By last week, the House Ways & Means Committee's sub-Committee on Taxation had put in a month's work on a new tax bill drafting of which should be completed soon after Congress...
...Borrow or Steal (Metro-Goldwyn-Mayer). Frank Morgan, as a "steerer" of European tourists, poses as proprietor of a chateau in order to provide for his visiting daughter, Florence Rice. The dialog is wittier and the characters better rounded than usual in this type of program-filler...
Under the National Housing Act of 1934, an individual could borrow up to $2,000 from a bank-with 20% of the principal guaranteed by the Government -to improve, repair or modernize his house. He could borrow up to $16,000 from a bank to build a new house-at 5% (in some cases 6%) interest, with the total mortgage guaranteed by the Government for a premium of at least .5% when the principal did not exceed 80% of the estimated value of the property. And ''V nited dividend corporations could get insurance on mortgages...
...refunding was all of $3,300,000,000. Behind this change of emphasis are the exceptionally easy money rates which have prevailed all during the New Deal. It is now more profitable for concerns to refund old debts than to issue new securities. It is also more profitable to borrow for short-term than issue long-term securities, as is shown by the fact that bank loans for commercial purposes have risen steadily all year, though industry has been receding and new security issues have been virtually frozen. Until very recently this has been worrisome only to investment bankers forced...
...Elizabethan madrigal. The English Boy Choristers were about to go on a six-month "Goodwill Tour" of the U. S., their expenses of some $25,000 paid by the Church of England. Aged from 11 to 13, the boys were chosen from 125 applicants, trained by Carlton Borrow in the London Choir School...