Word: cash
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Dates: during 1930-1939
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...some 300 bachelor workers. Kohler Improvement Co. built its houses (mostly $5,000 and $7,000 homes) for Kohler workers at cost. Kohler Building & Loan Association took their first mortgages and Kohler Co. itself often took second mortgages. All a Kohler worker had to have was about 10% in cash. A town of handsome little homes. set back behind green hedges and green lawns on winding streets, Kohler has long been the perfect picture of a worker's paradise...
...Scandinavia, onetime English instructor at Harvard, Henry Goddard Leach decided that he himself was well equipped to do the job. Most students of a philosophic turn of mind, he figured, write poetry. Therefore he announced a college poetry contest. The response was overwhelming. For a chance at cash prizes of $50, $30 and $20, 2,394 college poets bared their souls in nearly 3.000 poems. Plucky Investigator Leach read every single one down to the last line. Last week in Manhattan he was ready to make his report...
...Morgan-Drexel-Bonbright interests, United's business is utility investments. The directors announced last week that bank loans, which had stood at $15,000,000 in 1930 and $5,000,000 at the end of 1933, had been fully paid off, leaving United free to sink its cash in new enterprises...
...Some $1,700,000,000 excess reserves of banks (unnecessary idle deposits with the Federal Reserve on which member banks get no interest). These have been piled up by the return to the banks of hoarded cash, by the $1,676,000,000 which during two and one half years Federal Reserve Banks have paid out in buying Government securities, by the return of $800,000,000 of gold from abroad, by the Government's spending of part of its $2,000,000,000 exchange stabilization fund...
...less than 3%. It meant that in spite of the topheavy public debt, the Government can still go on borrowing the New Deal's pocket money easily and cheaply. To be sure, if investors take confidence and start once more to invest in industry, the great surplus of investable cash will subside and Government bond prices will sink. But this possibility would please the Treasury even more, for relief expenses would fall, the Government would spend less, and tax receipts would begin to increase. Chief worry of economists last week was that this change might be postponed until such...