Word: debts
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Dates: during 1940-1949
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...socked away $10 million in Government bonds during the war, "and it's still back there in those lockboxes, at least $8 or $9 million of it," said Russell Martin, president of Tipton's largest bank. Many mortgages had been paid off in full; the per capita debt was the lowest in 25 years...
Bill Frost, whose crossroads general store out on Highway 31 did $68,000 worth of business last year, figures trade will be a little off this year, but not much. Said Bill: "Nobody is worrying much. It's only when you're in debt that you start worrying, and I don't know anyone who is in debt." Crop prospects are good. Said Farmer Horton: "I don't look for prices to go a whole lot lower. We're not alarmed." "Nope, things don't look too bad," echoed Mrs. Horton, shutting the door...
High Hat. When Fred Levy, a brash young securities salesman, took over Blum's in 1934 (he had married a granddaughter of the late Simon Blum, the founder), the company was $26,000 in debt, and facing bankruptcy. The first thing Levy did was phone his customers and ask: "What's wrong with Blum's?" They told him Blum's had been turning out the same old candy since Simon Blum set up shop in 1892, and they were tired...
...Lockheed, thanks to big military orders, got out of the red in 1948 and hoped to do better this year. It had worked its bank debt from $27,000,000 down to $6,000,000 and has a $195,900,000 backlog, compared to $124,820,000 a year...
...Partnership. Ruth Kerr is a Baptist. "Anything I've done," she says earnestly, "was accomplished because of what God has done." God has been a partner in the company since 1902, when debt-ridden Alexander Kerr, an obscure wholesale grocery man, took the tithing vow at Portland, Ore. Three months later, Kerr took a chance: he borrowed money to buy a patent on a glass vacuum jar that could be sealed at home. Kerr got a San Francisco glass works to supply his materials, and in four years had a profitable business...