Word: depositer
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...growth of this debt has led to new concern by Government and economists about just how far it can go without danger. The Government has threatened to tighten credit immediately if there are signs that it is getting out of hand, and Joseph W. Barr, chairman of the Federal Deposit Insurance Corp., has suggested that Congress next year undertake a thorough examination of the whole credit situation. Such an examination might prove enlightening, but few businessmen and bankers, who are mostly the ones who grant the credit, feel that it is necessary. So long as incomes and employment keep rising...
...Money. Under an arrangement known as chunse (deposit), a G.I. can occupy an entire house off base merely by depositing "key money." No rent is necessary because the Korean owner is delighted to get the working capital, which he then invests in the black market. He can double or even treble his investment in six months. The G.I. gets his "key money" back at the end of his tour by selling the hooch, complete with furniture and moose, to an incoming soldier. Prices currently range from...
Died. Marx Hirsch, 76, recently retired president of Molybdenum Corp. of America, who helped found the company in 1920 to refine steel-hardening molybdenum, in 1950 made a major splash when his prospectors discovered, near Mountain Pass, Calif., the world's largest deposit of exotic "rare earths," whose yet-to-be-exploited heat-resistant qualities make them the promising metals of the atomic age in nose cones, reactor shields and other critical parts; of a heart attack; in Manhattan...
...among themselves, and sometimes they can get started on a small stake by putting up their shares in the bank as collateral for low-interest loans from bigger banks. Less affluent organizers sell stock to the public. Often investors are let in only after they pledge to deposit $500 or $1,000 in the bank for every $100 worth of stock they...
...suggested that anyone with a complaint call his number direct (area code 516, CH 8-9150). Townsend has since heard from about 400 people, last week made a San Francisco reservation for one caller and authorized another to get on-the-spot credit without an Avis card or cash deposit...