Word: borrowings
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...many dealers are deeply worried about next year and after, feel that credit is too easy, that the production pace is forcing them to borrow against future sales. In most U.S. cities a buyer can drive off in a new car with little or nothing down, and three-or even five-years to pay. Such practices give conservative dealers the jitters, since the car depreciates faster than it is paid for. They fear that even a temporary slump in employment would touch off a chain reaction of defaults among buyers who have little equity in their cars, thus lose almost...
...mill, the eleventh in the nation, will go into production next summer, will refine ore (by the sulphuric-acid leaching process) from Mi Vida and other mines in the Big Indian Wash district, as well as from AEC's nearby stockpile. To finance construction, Steen will borrow $3,500,000 from New York's Chemical Corn Exchange Bank, $6,200,000 from the New York Life Insurance Co., thus bring a major insurance company into the uranium business for the first time. Steen need not worry about customers: AEC will take the mill's entire production until...
...Which has a unique arrangement with many of its regular free-lance contributors. It puts them on a "drawing account," lets them "borrow" what amounts to a regular salary against earnings from future articles...
...year, 1⅛% certificates), the Treasury Department will pay 2% interest on a new $3.9 billion short-term issue running for 15 months. The big private finance companies (among them: General Motors Acceptance Corp., C.I.T. Financial Corp., Commercial Credit) are also boosting the rate they pay when they borrow on commercial paper, will now pay another ⅛% interest (to 1¾%) on 30-to 90-day notes, the third such jump in a month...
...ruggers managed to borrow two men from the Barbarians' second team, and played the game one man short...