Word: cashing
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Dates: during 1920-1929
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After a businessman ships a batch of goods, he frequently needs cash. He goes to his bank with documents showing that he has shipped the goods and that he will be paid a certain sum on a certain date. If his commercial credit is good and if the credit of the buyer is good, the bank will discount his "paper." Such "paper" is a "trade acceptance." U. S. banks at present have between $800,000,000 and $900,000,000 worth of trade acceptances representing domestic commercial transactions. They have even more-$975,000,000-representing international business...
...Cuba quite as much as elsewhere, social duties accompany the business of diplomacy. Such duties Ambassador Judah is financially equipped to perform better than many a diplomat. He inherited substantially from his father, and Mrs. Judah was Dorothy Patterson of the National Cash Register family (Dayton, Ohio). The Judahs will have a month or so to get settled in Havana. Then will come the pan-American conference, at which the new ambassador will be, ex officio, a member of the U. S. delegation and host of his colleagues, the latter perhaps including President Coolidge...
...Raskob said at last week's banquet: "In 1926 the retail value of automobiles, trucks and parts produced is estimated at $6,000,000,000." Only 40% was paid in cash, the balance by monthly installments. General Motors, Mr. Raskob's firm, believed that the installment system was good. However, said he: "If we were wrong we wanted to know it. If we were on fundamentally solid economic ground we wanted to know that also. All agreed that no opinion would tend to give a greater sense of security than that of Professor Seligman...
Lions, elephants, gnus, water buffalo, pythons, a rhinoceros and a golden-haired baboon-Frederick Beck Patterson, 35-year-old President of the National Cash Register Co., reached the U. S. last week tanned and a little thin, and told how he had shot them with camera and gun during five months big game hunting in Central and East Africa. When he ended he had a ton of animal skins and heads and 18,000 ft. of cinema films plus 400 still photographs (he was in the 15th Photographic Air Service Unit during the War). That was too much...
...young teachers wanted to get married to two young men. The teachers, Helen C. Friedman and Marguerite B. Ellis, asked for permission to take honeymoons after their weddings. At this, there was turmoil among the members of the School Board. "Rubbish!" shouted one member. "Do taxpayers like myself pay cash so that young women, mere chits, may go off and enjoy themselves?" Said Commissioner John Grimshaw Jr., a bachelor: "They can get married after school-hours, whether we like it or not. It would be petty business to refuse to let them take their honeymoons." His remarks carried weight; Helen...