Word: guaranteee
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Dates: during 1930-1939
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¶ The very day after his budget had gone forth, the President himself prepared for some extra spending. In spite of the fact that he had told Congress that Federal Refinancing of farm and home mortgages had met with "good success," there was evidence of hesitation by some mortgage holders...
Fiscal 1934 Fiscal 1935 (in millions) (in millions) PWA $1,677 $1,090 Conservation Work. . 342 65 Bank Deposit Guarantee 150 none RFC 3,970 } Unforeseen Expenses 1,166} 2000 All Others 218 49
Perhaps the most far-reaching effect of the Minnesota mortgage case decision will be its effect on real estate finance. If a state can pass a law suspending foreclosures, even for an emergency period, what rank will investors hereafter give real estate in their list of investments, It may be...
Not one of the 190 savings banks in Massachusetts (largest number in any state) applied for the guarantee, and all Connecticut savings banks were forbidden by the State attorney to participate. In New Hampshire, which has had but one savings bank failure in 30 years, the Governor and State bank...
¶ In a State Court in Manhattan the Federal Government filed an unprecedented suit to compel the 20 banks of the New York City Clearing House to pay $9,375,000 for losses of the defunct Harriman National Bank (TIME, March 27). The Government's contention was that when...