Word: crediteers
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
...Credit for Unions...
...Newfoundland, the rest belonging to his brother and a close friend. Last year he lost $130,000 on the sale of securities. According to the income tax law a taxpayer cannot deduct losses beyond $2,000 unless they are balanced by corresponding profits. Rather than let his loss (tax credit) go to waste, Mr. Hudson sold other securities to his Newfoundland company for a profit of $130,000. Later if and when that company sells those securities it will not have any taxable profit on them unless they rise still higher. Mr. Irey described this as "rather novel" and added...
Whatever the psychological effect of the New Deal's borrowing and spending may have been, the New Deal's easy money policy has certainly given the Installment Plan a big push. With a plethora of bank credit available, the big finance companies have been able to cut carrying charges to more attractive levels. Many commercial banks are now interested in installment paper not only indirectly through loans to merchants and finance companies but also directly in their own installment departments...
Some economists believe that the next great credit expansion will blow out in installment paper, just as in the last boom it blew out in stock market loans. Pointing out the political problem involved in any future effort to restrict consumer credit, the New York Stock Exchange firm of Biggs, Mohrman & Co. lately observed in a thoughtful little pamphlet called The Next. Boom & Collapse...
...vast number of people who will be buying on credit will, of course, not recognize the danger and they and the affected businessmen will resent interference. Many soothsayers will arise to lull any fears. It will be pointed out that an overexpansion of credit cannot be near at hand because brokers' loans are low and security credit under strict control. (This will be the same type of argument as the 1929 one that inventories were not over-extended and therefore no great danger existed.) It will be pointed out with great pride how well installment selling fared...