Word: chattels
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...principle of personal finance companies is that they lend up to $300 on the borrower's character, sometimes taking a chattel mortgage as additional collateral. Experience shows that only in rare cases have the mortgages been fore-closed, both because the companies do not wish to lose their goodwill and because the furniture of small borrowers has little resale value. The companies in this group lend about $500,000,000 a year, but the total small loan business is estimated at $2,592,000,000. Other agencies in the field...
...Harvard Thomas-for-President Club heartily deplores and condemns the prevalent un-American tendency to brand all new doctrines seditions and to brand as traitors all leaders of new thought. Among institutions which existed for many years were chattel slavery, feudalism, and Tsarist regime in Russia, among the advocates of new political systems have been Jesus Christ, Washington and Lincoln. His fellow citizens demand to know how Benjamin Gitlow has merited jail, and why he has been held incommunicando...
...discount the promissory notes of Ford motor car buyers, as General Motors Acceptance Corp. has discounted billions of dollars of G. M. C.-made cars, Detroit bankers were busy last week organizing the Universal Finance Co. It will get its chattel money from and through the Guardian Trust Co. of Detroit and its affiliated Guardian Detroit Bank (in Detroit) and Guardian Detroit Co. (security house in Manhattan). Among directors of the Guardian Trust of Detroit are potent motor car makers...
...Morris Plan of Banking and Credits" is a system designed to fill in the gap between commercial banks and chattel loan sharks, by which loans are made for amounts large or small, secured by promissory notes signed not only by the borrower but by two "co-makers" equally responsible with him. Repayment is made at the rate of $1 a week for each $50 borrowed until the note is paid. Arthur J. Morris, originator of the plan, is a crippled Presbyterian Jew who sells out his interest in the banks as they are organized, yet still speaks of them...
...significance lies, not especially in a general distrust of European government bonds, but rather in the spreading reluctance of chattel and security holders against expanding their credit obligations. In accordance with this picture, loans and discounts of Federal Reserve member banks continued to decline...