Word: borrowers
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Dates: during 1930-1939
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...away from New York and give it to some backwoods state." RFChairman Jones thereupon challenged anyone to think up a better reorganization scheme. Banker Roosevelt promptly took him up, proposing to 1) split the road into an owning and an operating company connected by a one-year lease; 2) borrow $5,000,000 from RFC; 3) borrow $1,000,000 from Boston's rich, crotchety Frederick Henry Prince. In return for its money RFC would get first mortgage bonds and Mr. Prince would get a first lien on income for his interest. Furthermore, Mr. Prince would get a bonus...
High though it is, Standard's credit has little to do with the company's ability to borrow money at 3%. Bonds like Standard's are called "money bonds," meaning that the price and yield are determined by the state of the money market, not by the state of the borrower's credit. Government bonds are the best example of money bonds. Typical corporate money bonds are Atchison, Topeka & Santa Fe Ry. general mortgage 4s of 1995, now selling at 114; Chesapeake & Ohio general mortgage 4½'s of 1992, selling at 125; Consolidated...
...interest rates have been a boon to financing companies, which borrow, chiefly from banks, a large part of the funds used to carry installment purchases of automobiles, radios, refrigerators, etc., etc. For this borrowed money the financing companies are now paying 1% or less. When they loan it to a time buyer, they get from 12% to 25%. That spread is by no means all clear profit, for installment paper means high overhead. Nevertheless, favored still further by a tremendous pickup in the volume of installment buying, financing companies are reporting record high earnings. Last month Commercial Investment Trust Corp...
...would be pretty well fixed for the rest of my life. But the collapse came. The property I had sold at high prices had to be taken back, and I've paid taxes on it now for ten to twelve years. I became insolvent. I had to borrow money and to make notes which I have struggled to reduce, and which I did reduce and which some day I'll pay." Announcing that he would contest Senator Harrison's renomination in the August primaries "from hell to breakfast," Senator Bilbo declared, "I'm in the market...
...Caddo Parish. As far back as 1922 this country attracted oil companies to test drilling, but they all eventually gave up. By 1930 Dick Norton had collected mineral rights to about 26,000 acres. Thena young Shreveport geologist encouraged Norton, who was down to his last dime, to borrow money and finance his own drilling. A well in the north part of the Parish turned out to be a gasser producing 50,000,000 cubic feet daily...