Word: discounted
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
...series of full-page newspaper advertisements the store announced that as of May 31 it was giving a 2% discount on cash sales, a 1% discount on bills paid within 30 days. "It costs a store money to carry charge accounts," said President Herbert James Tily, "and somebody has to pay it. ... We are happy to extend credit and we shall continue to do that. But we feel that it is a discrimination against the cash customer and the customer who meets his obligations promptly to assess them part of the cost of maintaining the credit structure. ... It is time...
Last week's discount plan was not solely the idea of President Tily. It had been worked over and approved by the Clothiers and the Strawbridges who, as sons of the founders, own most of the stock, carry on family traditions. Morris Lewis Clothier is chairman of the board, a benefactor of the Quaker colleges Swarthmore and Haverford. His brother, Isaac H. Clothier, vice president, is famed as a sportsman and horse fancier. (Their cousin, Robert C. Clothier, who did not go into the store, is president of Rutgers University.) Of the three living sons of Founder Strawbridge only...
...stopped, there was no immediate worry because the bank still has about 80% gold coverage for its sight engagements. But could it be stopped? With exports limp and the franc dropping on foreign exchange, the Bank of France was last week forced to the extraordinary action of raising the discount rate twice within three days, first from 2.5% to 3%, then...
Increasing the discount rate is a means of arresting the flight of gold from France. The excitement that prevails among the cabinet in Paris indicates that its success is doubtful. Should the attempt fail, the result would probably be abandonment of the gold standard. Since France and Italy--whose currency has recently been decidely unstable--are the only great powers remaining on gold, this might in turn result in the prevalence of managed currency throughout the world...
...masters. His good friend Tom K. Smith, head of Boatmen's National Bank of St. Louis and a vice president of the American Bankers Association, informed him that there was "great interest" throughout the land. But many another banker was less sanguine. Small investors have not seen a discount security since the days of War-Savings stamps. Most private investors want their interest regularly. Instead, they will soon be asked to buy a $100 Government bond for, say, $76. The interest, compounded, will be paid at maturity in one lump sum represented by the difference between the purchase price...