Word: cashing
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Dates: during 1920-1929
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...farm products of 1929 were converted into cash, the resultant sum would pay off half the national debt or build four railroad systems the size of the Pennsylvania or run the City of New York without taxes for 14 years. Last week the Department of Agriculture compiled final estimates of crop values for the year. Significant figures...
...Berlin it is sometimes popularly supposed that the titanic rivals in U. S. finance are J. P. Morgan & Co. and Dillon, Read & Co. Last week, pink-cheeked, socialistic, optimistic Finance Minister Rudolf Hilfer ding found himself short of cash for year-end budget requirements. He hastily sought to arrange an $100,000,000 loan with Dillon, Read & Co. by cable...
...several days the wires hummed merrily about millions. Then suddenly jovial Dr. Hilferding was jerked up short by brusque Dr. Hjalmar Schacht, President of the Reichsbank. A watchman of Germany's cash drawer, Dr. Schacht barked that he would not O.K. the loan. Scareheads in the Berlin press screamed that Dr. Hilferding would have to resign because now his budget would not balance. There were predictions that the Cabinet was due to fall...
...Schacht, having upset the applecart, set about picking up the apples. Within 24 hours he announced that he (i.e., the Reichsbank) would supply the needed cash. The political neck of Optimist Hilferding seemed saved and the whole affair might have passed off as a teapot-tempest, except for the famed Berliner Tageblatt whose editor announced that he possessed the inside story, upset the apples again...
...Minturn, onetime Florentine schoolmate of O'Brien, read of his friend's predicament, wrote a letter, enclosed a check for $1,000, ordered $900 in 2 cent stamps, $100 in 5 cent stamps, saved the day. Shrewd Friend Minturn could, of course, exchange his stamps for cash at the nearest post office...