Word: cashing
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Dates: during 1950-1959
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...Indiana, a Midwestern giant which has belatedly joined the rush for overseas reserves and is ready to pay to get in on the comparatively few good areas still unallocated in the Middle East. For an offshore Iranian concession earlier this year, Indiana Standard paid a $25 million cash bonus, promised to spend $82 million in twelve years developing the area, and by accepting the state oil agency as equal operating partner entitled to half of future profits, in effect gave the Iranians a 75-25 share of total profits. The big established companies were bothered but not outraged...
Shortly after the market closed, the Federal Reserve Board raised margin requirements from 70% to 90% (buyers must put up 90% cash on their stock purchases), the highest requirement in eleven years. The Fed said it was alarmed by the rise in public borrowing to buy securities (which reached a record $4.3 billion in September), wanted to protect the public from getting in too deep. Actually, the public, i.e., small investors, has been getting out of the market since June...
...makes not only jukeboxes but most of Western Union's facsimile equipment, plus key electronic components for the Nike and Sidewinder missiles. Two years ago, at the ripe ages of 31 and 28, Coleman and Siegel got control of Seeburg with a display of financial virtuosity worthy of Cash McCall...
...take advantage of the tax losses, they began looking for another company with healthy earnings, decided on the family-owned Seeburg Corp., which had annual pretax earnings averaging $2,000,000. The family wanted to sell for $8,000,000 in cash, $2,000,000 in five-year notes. All but $3,300,000, could be covered by Seeburg's liquid assets-but how to raise that? Despite a tight money squeeze, they succeeded in borrowing it, partly from the Seeburgs themselves...
Goldilocks (book by Walter and Jean Kerr; music by Leroy Anderson; lyrics by the Kerrs and Joan Ford) takes place in 1913, in pioneer cinema days when redskins were swarming all over Fort Lee. The show itself concerns a short-on-cash, long-on-ego moviemaker and a sizzling-tongued actress he corrals for shotgun movie heroics on the eve of her society marriage. Communicating by insult, the two keep throwing knives at each other without for a long time realizing that they are actually Cupid's darts...