Word: borrower
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Dates: during 1930-1939
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Today a bank in the Federal Reserve System can go to the Reserve bank in its district and borrow money only on the bonds or other direct obligations of the U. S. Government, on businessmen's promissory notes covering actual commercial transactions and, a minor point, on credits advanced to agricultural agencies. No other kind of security is eligible for the Reserve's rediscount privilege.? Not one nickel will the Reserve lend on the best industrial bonds, on prime stocks or on A-1 real estate mortgages. In its effort to keep liquid to meet depositors' demands, a bank...
Conspicuously first-in-line for a Federal loan was Wabash Railway, ineligible for help from the railroad credit pool as it went into receivership before the pool was established. Wabash had $5,000,000 worth of securities. On this collateral it wished to borrow $18,500,000. Though R. F. C. ruled that no application or loan shall be made public, the Wabash plea became known through the Federal court handling its receivership...
...large scale. This, in turn, requires not only political stability in the countries which seek capital but also moderation in tariffs--particularly those of the lending countries--in order that the flow of trade may adjust itself to the distribution of international investments and that nations may borrow without jeopardizing the stability of their currencies. Of particular importance is moderation in our own tariff policy...
...banks and bond houses headed by J. P. Morgan & Co. would raise $100,000,000 for New York on its corporate stock notes. In addition, a revolving banking credit of $151,000.000 would be placed at the city's disposal. Last September the Municipal treasury was able to borrow for 1⅜%. Last week, thanks to what Tammany had done to its credit, it had to pay 6%, on its stock notes, the highest rate in its history. For floating this loan which the investing public fairly gobbled up. the syndicate charged not one single cent for commissions...
...environment which stimulates their readiness to respond to such an opportunity. The Museum itself would be able to loan prints with more confidence, since they would be safer in the Houses than on the walls of chance rooming-establishments. The probability is that anyone interested enough to borrow from the museum would have sufficient responsibility to take care of the object loaned. If necessary, a small deposit against damage or loss might be given. The recompense both for the Museum and the College, would be well worth the trouble involved...