Word: borrowings
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Dates: during 1930-1939
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...overhead by $1,000,000 and got rid of a lot of engineers. Saving State money is a hobby of his. Georgia had only $7,500,000 of debt when he took office in 1933 ; now it has less than $4,500,000. He has steadfastly refused to borrow money to match Federal appropriations for relief, has done his best to stop local governments from borrowing Federal money. He has not only insisted on pay-as-you-go finance but has lowered Georgia's property tax 20%, cut her automobile license fee to $3. On the issue of Georgia...
...even Joe Kennedy with his Olympian police powers cannot go forth within his precinct and command companies to borrow money that they do not need. All he can do, as he has done, is to make it easy for the honest. He has stumped the land proclaiming his credo: "No honest business need fear the SEC." He has been not only a good policeman, but also a polite one, insisting that all SEC subordinates be courteous and cooperative. Doing business is infinitely more difficult than before the New Deal but bankers now know that it can be done...
...different stamp. Stoertebeker's Ludwig Schlimbach, until he retired, used to captain Hamburg-American liners across the Atlantic. Grizzled, 59, amused at the elegance of his competitors, Captain Schlimbach arrived at Newport three days before the race, barely managed to lay in enough supplies, rearrange his rigging, borrow water lights and a code book to qualify. Joked he before the start: "Next time I come mitout a boat...
...June 16, 1933 U. S. bankers were privileged to borrow from their own banks all that their own banks saw fit to lend. On that date the Banking Act of 1933 went into effect. One of its provisions prohibited bankers from borrowing from their own banks. Another required them to repay all such intramural loans by June 16, 1935. As that date approached last week many a borrowing banker was in a cold sweat. Loans outstanding totaled nearly $90,000,000. Penalty for failure to pay was fixed by the Banking Act at one year in jail, $5,000 fine...
...giving in payment its own note for $8,000,000 Parker & Co. sold the shares to the public, reducing its note to $3,323,000. As in the case of Seaboard Utilities, Parker officials were the managers of Railroad Shares, and Parker & Co. availed itself of the opportunity to "borrow" $1,100,000 in cash...