Word: loan
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Dates: during 1960-1969
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...reducing Continentals 148 million stock payout to only $48 million. As for the "future" payout of $460 million, that will be financed by a Wall Street syndicate or other big lenders so that the coal shareholders will get their cash immediately. Continental should be able to liquidate that loan within ten years from the coal company's earnings and depreciation. Meanwhile, it can deduct the annual interest on the loan-some $27 million-from its taxable income. Judged by Consolidation Coal's recent rate of profits, the acquisition should give Continental Oil some $12 million a year...
...famed statue will return to Rome by ship on Nov. 2, two weeks after the fair closes. It is unlikely that it will ever be moved again. Recently it was decreed that henceforth Vatican art treasures may not be sent out on loan...
...Bind. While constricting the flow of money abroad, the Administration is most anxious not to let money tighten too much at home. The U.S. supply of money has already begun to tighten, largely because of the record demand for credit. Bank loans have risen 16% this year to a total $48 billion; corporate loans and consumer credit are each rising by about $1 billion a month. Worried about the possibility of inflation, the Federal Reserve Board has contributed to the tightening simply by not adding enough to the money supply to keep up with loan demand. The board...
This week two subsidiaries of Brazilian Traction Light & Power Co. will sign a $40 million loan agreement with the U.S. Agency for International Development as the first step in a fiveyear, $228 million program to double their service. The Inter-American Development Bank and ADELA (Atlantic Community Development Group for Latin America), a private, multinational investment group that has invested $12.7 million in Latin America, have just joined with Brazilian Millionaire...
...effectiveness - and a portion of that profit may be kept for use in improving production through new tools or new-products research, as the manager thinks best. To foster sounder use of funds, the plant manager would now receive his capital from the state in the form of a loan-complete with interest rate...