Word: borrowers
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Dates: during 1930-1939
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...Hull, as the share cropper beset with family troubles and besieged by starvation, who would rather work than borrow, if work on credit he can, who would rather borrow than steal, and who would sooner steal than leave the land on which he was raised and of which he feels himself an integral part, is superb. There is a certain gallantry in his self-willed squalor that remains as one of the abiding impressions of the play. His supporting cast is excellent, and as a team, they manage to pull the very best possible from the script. On the whole...
Chief aim of REA is to organize farmers in co-operative associations to build power lines on money borrowed for 25 years from the Government. But States, Territories and even "persons and corporations" can borrow money for that purpose. Power plants, as the bill's backers explained, would be built only where necessary, since in most cases power would simply be bought from existing utilities. Individual farmers would be given five-year loans to wire their houses and install electric equipment. Of the $40,000,000 a year ($50,000,000 of RFC money the first year), half will...
...twelve Land Banks, which are supervised by the Farm Credit Administration. Unlike Home Owners' Loan Corp. bonds, Land Bank bonds are not Government-guaranteed. All recent Land Bank issues have been sold to refund outstanding bonds with higher coupons. And since by law the Land Banks may charge borrowers no more than 1% in excess of the rate at which they themselves are able to borrow, Mr. Dunn as the farmers' Wall Street agent is now providing mortgage money...
While it was about it, the Federal Reserve Board also slapped the same margin requirements on banks, which have hitherto been free to loan as much on stocks as they saw fit. From his broker a customer could borrow only 45% of the value of his stocks, but from his banker he could borrow possibly 75%. The Reserve Board took great pains to confine its bank margin rules solely to speculative borrowing. If his bank will accommodate him, a man can still pledge his stocks for, say, 70% of their value to buy a farm or build a house. Said...
...number of U. S. corporations which can borrow $75,000,000 at one crack is relatively small, and their names are usually familiar to the average U. S. citizen. No surprise was the fact that Pacific Gas & Electric stepped into the capital market last week for $90,000,000 of refunding money. But when a banking group headed by First Boston Corp. and Mellon Securities Co., Inc. floated a $75,000,000 bond issue for Eastern Gas & Fuel Associates last week, many an investor had to plough through an 85-page prospectus to find out what the company...