Word: borrower
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Dates: during 1930-1939
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...York City, through President Morris Markin of Checker Cab Manufacturing Corp., Parmelee's parent organization. In return, said the indictment. Commissioner Harnett had let Parmelee put up its own $250,000 bonding fund to save paying premiums to a bonding company, and then allowed Parmelee to "borrow" half its money back for operating expenses, while denying these special but not illegal privileges to rival companies. Arrested, fingerprinted, released on $5,000 bail, Commissioner Harnett denied all charges before resigning his post to save his Democratic superiors "embarrassment...
Jovial young Physicist Ernest Orlando Lawrence has an 85-ton atom smasher at Berkeley, Calif. Intrigued by the Lawrence cyclotron, promoters of the Golden Gate International Exposition asked if they could borrow it to smash atoms for next year's fair. Physicist Lawrence, who was deep in experimentation, pointed to the protective wall of six-foot-high water tanks surrounding the cyclotron, explained that neutrons flying free as hail around an exhibition room might settle in the tissues of spectators, even render them sterile. The exposition officials hastily retired, and last fortnight they hatched plans to exhibit a model...
...Deal, particularly through Jesse Jones, keeps egging banks to lend more. They cannot, say bankers, because industry just does not want to borrow, despite interest rates at record lows. Practically every other avenue to bank profits is similarly closed. Underwriting is forbidden, pinched volume on the stockmarket has reduced security and brokerage loans, the huge flow of gold, which has to be invested in short-term loans for liquidity, produces virtually no income (interest on 91-day Treasury bills, for example, is only .027%). The few big banks doing well today are those like Chicago's Continental Illinois National...
...Best People on any ship or cruise is to walk around the deck the first day out with a copy of TIME conspicuously displayed about one's person. Before nightfall the above-mentioned B. P. will either be at one's feet in an effort to borrow that copy, or will be at one's throat in an effort to settle an argument born of some article in TIME...
...Treasury's cash balance to a phenomenal total of some $2,300,000,000 (Secretary Morgenthau wants to be ready for any event in the U. S. or Europe),† the new money is to help finance pump-priming for Depression IΓ. Mr. Morgenthau expects to borrow about $1,400,000,000 more for the same purpose next year...