Word: debt
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Dates: during 1950-1959
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Builder's Hope. Deerfield's trouble is not so much hard-shell racism as pocketbook fear. Many residents are on-the-rise young executives in Loop corporation offices who went into mortgage debt to buy split-levels (average price: $23,000) for their growing families. With the steady rise of the real-estate market, the tightly budgeted family heads (average salary: $9,000) hoped to break even or turn a small profit by the time their companies assigned them to better jobs in other cities. But their hopes did not take into account the secret plans of Builder...
...lemon-extract perfume to help support his mother, worked on through high school selling postcards and helping in a bookstore. By 1912, he was in Kansas City, determined to make a go of greeting cards. The venture almost died as soon as it started; Hall was $17,000 in debt when a flash fire wiped out his printing plant. Luckily, he was able to sweet-talk a local bank into an unsecured $25,000 loan, and he has not taken a step back since. By the late 19303, Hallmark was one of the top three cards...
...Cabinet under any President, the Secretary of the Treasury wields great power and carries grave responsibilities. He oversees the vast, intricate flow and ebb of the billions of dollars that the U.S. Government takes in and pays out. He is charged with managing the $290 billion national debt, a task in which small errors can be costly. But Robert Anderson's power and influence extend far beyond the statutory scope of his office, broad as that is. By force of mind and personality, Anderson molds politics that reach into every niche of the U.S. Government, every place of business...
...U.S.S.R.'s most popular U.S. writers (others: Mark Twain, Jack London, Harriet Beecher Stowe), Caldwell was intrigued about his royalties, if any, from many years of publication of his books. To his surprise, he learned that each publishing house had kept a tab of a sort on its debt to him. At one of them, he was told over much vodka that he was 20,000 rubles (about $2,000) to the good. He blithely took the money, and then the fun began. Already aware that he could not just fly out of the U.S.S.R. with...
With U.S. consumer debt at a new high, a top Government economist last week issued a stern call for credit caution. Raymond J. Saulnier, chairman of the President's economic advisory council, told the nation's bankers not to go "overboard" in increasing consumer installment buying. Said Saulnier at the American Bankers Association's annual convention in Miami: "I hope we do not get involved this year or next in a great splurge of consumer expenditure propelled by credit expansion...