Word: debt
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Dates: during 1950-1959
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Damon, who inherited a debt of $56 million and only $6,000,000 in stockholders' equity, has upped the equity to $53 million and held the debt to $60.5 million. "The sheriff has dropped back at least five steps," says he. "It's stopped him from leaning over my shoulder...
With this prospective revenue drain, the plum looked rather biliously green to the Administration. Faced with a growing national debt that was already scraping the 275 million dollar limit, and Truman's parting prediction of a ten billion dollar deficit, Eisenhower made an abrupt about face. "A reduction in taxes," he said in his State of the Union message, "should come only as we can succeed in bringing the budget under control...
...billion issue of one-year certificates falling due Feb. 15, Treasury Secretary George M. Humphrey gave investors a choice of 1) a similar one-year replacement issue of certificates, or 2) bonds maturing in five years, ten months. Humphrey's eventual goal: to put the $267 billion national debt, now 80% concentrated in securities maturing or redeemable in five years or less, on a longer-term basis...
...that year. Harold Vance went to Detroit to be president of our Rockne company and bring out the Rockne, which was our challenge to Ford. But Mr. Erskine was a year too early. He made the awful mistake of expanding in a dying market." Studebaker fell $21 million in debt, went into bankruptcy. President Erskine put a bullet through his heart, and Hoffman, Vance and Ashton Bean, head of Stude-baker-controlled White Motor Co., were made receivers of the company...
...board of 18, that has included the editors of the Freeman; Economists Leo Wolman, Ludwig Von Mises and Leonard Read; Importer Alfred Kohlberg: Armstrong Cork Board Chairman Henning W. Prentis Jr.; Chicago, Rock Island & Pacific Railroad Vice President W. F. Peter, and others. The Freeman is also in debt for $220,000 in notes. Two noteholders: Du Pont Vice President Jasper E. Crane; Sun Oil Co. Director and ex-President J. Howard...