Word: cash
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...northeast. The newly completed 380-mile "Friendship Highway," with its 500 miles of feeder roads, cuts the travel time between Bangkok and the Laotian border from weeks (depending on the weather) to a mere eight hours, at the same time opening vast new markets for the northeast's cash crops of jute, tobacco and maize. Last week more than 300 vehicles an hour were moving along the highway. And if Communist aggression ever comes to Thailand on the scale of Viet Nam, the highway and its offshoots can carry troops and supplies into combat much more readily than...
...advent of modern transportation, the northeast's endemic bandit population switched from cattle rustling to highway robbery. The region's 30 holdup gangs now roar down the Friendship Highway in hot rods, pulling abreast of buses and firing shots across their bows, then relieving their passengers of cash and jewelry. Many of the bandits, according to Thai police, learned their holdup techniques by watching U.S. westerns on TV sets supplied to most villages for propaganda purposes...
...stockholders at the annual meeting of the J. C. Penney Co. in Manhattan last week none displayed more understandable satisfaction with the proceedings than the company's biggest individual stockholder: semi-retired Founder James Cash Penney, 89, who holds 258,018 shares worth $19.4 million. The 1,676-store chain reported that it passed $2 billion in sales last year for the first time, gained 9.9% in the first quarter of 1965, and expects a full year rise of from 4% to 6%. The irony is that this has been accomplished by reversing most of the guidelines that Founder...
Webb & Knapp is so short of cash that it could not even afford to hire an auditor and issue its annual report, an omission that caused the Securities and Exchange Commission to ban trading in its stock. Fearful that the company would go broke before bondholders could be paid off, Manhattan's Marine Midland Trust Co., trustee for $4,298,200 in Webb & Knapp debenture bonds, petitioned the courts for reorganization of the company under the Bankruptcy Act. Besieged by a growing army of creditors and unable for once to raise the money to pay them off, Bill Zeckendorf...
...company also picked up some problems along the way. Instead of sticking to acquiring existing real estate with a minimum of cash and a maximum of imaginative borrowing, Zeckendorf pushed Webb & Knapp into such unfamiliar enterprises as hotel management, urban renewal and building construction. By 1960, he had $500 million in construction projects under way. When costs began to skyrocket beyond his original estimates, Zeckendorf was unable to pay them. He began mortgaging his assets, borrowed money at excessive interest rates, some higher than 20%. He answered his critics by saying: "I'd rather be alive at 18% than...