Word: loaned
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Dates: during 1950-1959
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Turkey, drifting dangerously close to the reefs of bankruptcy, has been beaming a steady distress call to Washington. The Turkish appeal: a $300 million loan, without strings. The U.S. has repeatedly refused to come through, insists that first the government of Premier Adnan Menderes must 1) take reefs in the inflationary Turkish economy and 2) agree to conditions for putting further U.S. aid to lasting use instead of frittering it away...
Burns saw no recession in sight, thought that the U.S. is still feeling the thrust of inflation, although with lessening force. Said he: "The widespread tendency toward increasingly liberal credit terms, which existed several months ago, has apparently run its course. Some improvement in the quality of new mortgage loans is now under way. The same is true of the consumer installment loans being made by some important lenders, though by no means all. Although the total expansion of loans by financial institutions has been continuing at a rapid rate, the loan funds are coming from past and current savings...
...explains, "but I thought how many more might come if they didn't have to look me in the face or tell their names." In Nürnberg, a few months ago, he ran newspaper ads announcing that anyone with troubles not involving such matters as a loan or a new apartment should call a certain number after 8 p.m. Within three days Father Leppich had four priests manning "God's Own Switchboard," as he calls it. Many of the callers are Protestants, and, for Catholics, the system often breaks the embarrassment and fear that may have kept...
...first tried to join the primary producers in 1951, with the help of a $46 million federal loan. But when Columnist Drew Pearson dug up a scandal involving faulty ammunition allegedly made by Harvey in World War II (TIME, Oct. 1, 1951), the Government withdrew the loan, even though the charge was never proved. The Montana plant site and power supply that Harvey had lined up were taken over by Anaconda Aluminum Co., which opened a 60,000-ton plant there last month...
Last week Harvey agreed to pay for the lines itself. In return, GSA-agreed to give Harvey financial help with the plant in the form of federal loan guarantees, fast tax write-offs and a Government promise to pay in advance for as much as 155,000 tons of aluminum...