Word: crediteer
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Dates: during 1930-1939
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...afterward for an unlimited time the Viceroy is charged by the new Constitution with what are called "duties." He has the duty of safeguarding the minority communities including the British, the duty of coping with any serious threat to Peace and the duty of ensuring the financial stability and credit of India. So that the Viceroy may do his duty, the Constitution vests him with all powers pertinent thereto. The governors of the provinces have the further duty of combatting terrorism. Pursuant to this duty any governor is empowered by the Constitution to take under his control...
Founder-Chairman Alexander Duncan of Commercial Credit looks and acts like a cinematic tycoon. A canny Kentuckian of Scottish descent, he is tall and slender, ruddy of face, commanding of presence. He rarely entertains, almost never allows himself a vacation. He started his first credit house in 1907, organized Commercial Credit in Baltimore in 1912 with a capital of $300,000. More than half Commercial Credit's total financing comes from the automobile business and the company estimates a profit of from $5 to $7 on each automobile transaction. It has official contracts with Chrysler and Packard. Last December...
...John North Willys who laid the foundation for automobile installment financing when he developed automobile installment sales in 1915. But the actual founders of CIT and Commercial Credit were, respectively, Henry Ittleson and Alexander Edward Duncan, both still active today...
...launched a program of diversification which took him into phonographs, vacuum cleaners, barber and beauty shop equipment, electric refrigerators, oil burners and finally into the textile factoring business. But he was not averse to increasing his automobile business by acquisition of Henry Ford's financing company, Universal Credit Corp., in 1933. Today CIT finances the sale of Graham-Paige, Hudson, Nash, Reo, Pierce-Arrow, Studebaker and Ford...
...last week plump, dark-haired Widow Pansy Yount, Founder Lee and six other stockholders met in a private room at First National Bank of Houston. On hand to greet them was a Houston lawyer named Wright Morrow. In Lawyer Morrow's checking account at First National was a credit of approximately $46,000,000. Among the eight stockholders he distributed a handful of checks, also totaling $46,000,000, drawn on his account. In return he received all the stock of the Yount-Lee Oil Co. at a price of approximately $2,190 per share. Biggest check went...