Word: borrower
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Dates: during 1950-1959
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...build a turnpike from Oklahoma City to Tulsa, the Oklahoma Turnpike Authority asked RFC for a $30 million loan. RFC advised the Authority to see if it could borrow the money from private sources. Last week the Authority closed a deal with a group of New York bond houses for a $32 million loan at 3.6% interest, $128,000 a year less in interest than RFC's 4%. Cheerily, the Authority wired RFC Chairman W. E. Harber: "Do you need any money? We have plenty...
...critics thought he might just as well have been buying up freight space on the first rocket to the moon. He sold his ranch, mortgaged his automobile, moved into a little four-room bungalow in the Hollywood hills (where he still lives), sank every nickel he could beg, borrow or earn into his vast and complicated project. It took almost $350,000 in all, involved years of haggling and the signing of 1,500 separate contracts. But when television became an actuality, he was ready...
...friend of Booker T. Washington. Born of ex-slaves, Spaulding had risen from a $10-a-month waiter's job to head the $28 million Negro-staffed North Carolina Mutual Life Insurance Co. Said he: "We are making progress as businessmen. Three years ago very few Negroes could borrow money, even on Federal Housing Administration security. But now their reputation in that way has been changed. Our company and two others had a lot to do with [that]. We have loaned more than $1.5 million to Negroes in Philadelphia . . . and have not had a loss...
...third biggest loan in the World Bank's history, and the fastest ever negotiated; instead of the usual months of negotiations, it had taken just 20 days for Australia to borrow a cool $100 million.* The loan was formalized last week in Washington's whitestone World Bank building, when tall, lean World Bank President Eugene R. Black and short, stocky Australian Ambassador Norman J. O. Makin briskly signed their names to a stack of papers (30 signatures apiece...
...wants to fight inflation with credit curbs rather than price controls, started putting them into effect last week. By boosting the discount rate in the New York area from 1½% to 1¾%, the FRB, in effect, raised interest rates on commercial loans, thus made it harder to borrow money. Since the New York rate usually sets the pattern for the country, bankers expected a general rate rise soon...