Word: cashing
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Dates: during 1920-1929
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...Battle. The old man's son, Mr. Stanley Dollar, offered the Ship- ping Board $1,125,000 for each of the five boats now under lease to the Pacific Mail. He offered one-third spot cash, two-thirds in 4¼% mortgages. He guaranteed to run the boats regularly across the Pacific for, at least five years...
...Pacific Mail, smelling doom, called upon their Manhattan financiers, and especially upon their lawyer, one-time (1909-21) Senator George E. Chamberlain of Oregon. They did not have the cash resources of the Dollars and their friends, so put in a bid in larger figures but less cash?$1,350,000 per boat, about one-fifth in cash and the balance in 7% preferred stock in a holding company to be organized. They later offered to increase the cash payment to $1,500,000, proposed that the Government accept bonds at 4½ for the balance. Their main object...
...Clementel, prepared for this reaction, attempted to scotch it on the spot. He declared that the extra currency was wanted for commercial purposes, that it would not be used to pay the Governments cash deficit, because, for the first time since the War, the Government has a balanced budget which takes into account every expenditure.* When Premier Herriot heard the news, he rushed to the Senate, met M. Clementel in a corridor, had a hot, short, strong talk with him. The result was that the Finance Minister remounted the tribune and toid the Senators in effect that he had been...
...Dodge brothers (John, who skippered yachts; Horace, who played the violin and the organ) died almost simultaneously, and the great Dodge Brothers Automobile Co. was inherited by their widows. The latter awaited a favorable opportunity to sell it. They insisted on payment in cash. General Motors, through J. P. Morgan & Co., offered $124,650,000 worth of that commodity. But a banking syndicate headed by Dillon, Read & Co. of Manhattan offered $146,000,000 and the widows promptly accepted. The transaction is said to be the largest single cash transfer of an industrial concern in the history...
Just what the plans of Dillon, Read & Co., the buyers, are with respect to the Dodge properties is still unknown. Their banking syndicate has already subscribed sufficient money to pay the huge cash price demanded. Bonds and stock of the Company will be offered for public subscription. Back in the after-War period, Dillon, Read & Co. refinanced the then tottering Goodyear Tire & Rubber Co., and from this fact some have thought that a merger with Dodge Brothers and possibly other motor and motor-equipment firms might be planned, of a size and importance to rival General Motors. The motor industry...