Word: crediters
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Dates: during 1960-1969
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...consorcio lottery method for financing cars [July 21] may be "typical of Brazilian ingenuity and flair," but its origins are in the Old World. Although such rotating credit associations are known widely in Asia, Africa, and now in Latin America and the West Indies, the most likely source of the Brazilians' consorcio is the esusu of the Yoruba of Nigeria. Whether it was originally introduced to the New World by Africans, Chinese or East Indians, this popular method of saving is now known as boxi money in Guyana, meeting in Barbados, partners in Jamaica, esu in the Bahamas...
...December 1965 and 1966, in the absence of a major tax increase by the Administration, which took steps to increase interest rates and make money more difficult to borrow in order to reduce inflationary pressures. The result was the tightest credit situation in the U.S. in 40 years; the housing industry was particularly hard hit by the absence of mortgage money. This approach hurt the sections of society which were least able to bear it economically: small businessmen, farmers, and homebuyers...
...worldwide." Later in the year, however, most bond dealers expect the scramble for loans to dwindle. Last week's tax message heightens that prospect in part by removing much of the uncertainty. If bankers and economists are right, it also portends easier money and somewhat cheaper credit for businesses...
Still, Krupp's deepest humiliation stemmed from a shocking debacle with his bankers. Alfried had planned some day to turn over his holdings to a foundation, under which the firm would be run as a public company. But Krupp's bankers last spring rebelliously refused more credit to his debt-saddled firm...
Confidence & Cooperation. Credit for Europoort's amazing progress rests squarely with Rotterdam's politicians and businessmen. Rather than wait for a blessing by the national government at The Hague, they have gone ahead with plans in a fait accompli fashion. Last year, for example, the Rotterdammers decided to deepen the port's sea channel to accommodate tankers up to 225,000 tons (present capacity is 130,000). The first of these giants is expected at the end of this year, and the entire project should be completed by late 1969. Typically, by the time The Hague gave...