Word: loan
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Dates: during 1930-1939
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Looking forward to his legislative program for the next Congress President Roosevelt last week also turned his thoughts to Housing. He told his press conference† that four phases of his broad Housing program were now functioning effectively: Home Owners' Loan Corp., to save small mortgaged properties for their owners; Slum Clearance, which has been taken up by almost all large U. S. cities; USHA, which finances new tenements for people who can afford not more than $5 per room per month; Federal Housing Administration, which finances home owners who can afford $10 per room per month...
Group Health Association, Inc. Last year William F. Penniman, deputy governor of the Federal Home Loan Bank Board, who was dismayed at the Board's loss of several hundred thousand dollars annually through sickness of employes, encouraged 1,000 Board workers to join the Group Health Association. Inc. Starting with a $40,000 loan from the Board, G. H. A. established a clinic with laboratory and X-ray departments, hired a staff of physicians, offered government employes complete health service and 21-day hospitalization at rates of $2.20 a month for single persons, $3.30 a month for families...
Last year a San Francisco judge found him guilty of pocketing emoluments of some $300,000 from a loan his bank made to a firm reselling Government steel after the War (TIME, Sept. 6, 1937, et seq.). This year another judge ordered him to pay damages of $651,579 for selling at too low a price some oil lands belonging to certain Lazard Frères heirs in 1915-17. Although he has appealed both cases. Herbert Fleishhacker last week cited them in turning in his resignation. "I feel," said he, "that the best interests of the bank...
...million-dollar-a-day waste reported by the board. Nor does it mean minor legislation on bankruptcy and finance which would only make it more convenient for a railroad to pass from one receiver to the next. Nor, above all, does it mean the billion-dollar rehabilitation loan by the government which would preserve and subsidize the present rotten and aged structure...
About one third of policyholders now have loans of $3,399,000,000 against their policies, generally pay annual interest at 6% amounting to some $200,000,000. This interest will continue in force, but on all new loans after January 1 the companies will get only 5%-a drop in income for which the companies can compensate in only three ways: 1) finding improved investment opportunities elsewhere; 2) raising premiums; 3) cutting dividends. All forms of investment, however, are producing a smaller return these days as a result of the cramped U. S. capital market and the New Deal...