Word: loaned
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Dates: during 1950-1959
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...from citizens. Said the House, back on an even keel: "It is believed that if the ships are preserved . . . they will serve as inspirations to all American citizens." Last week the Congress also: -J Agreed, in a Senate-House conference committee, to allow more liberal terms on FHA home loans. Key points: 1) the FHA loan maximum would go up to $20,000 (from $16,000) on one- and two-family houses, and 2) the purchaser of a one-family house would be permitted to obtain a loan covering 95% of the first $9,000 of the value...
First reluctant witness was Clyde L. Powell, who "resigned" last April as assistant commissioner of FHA. While in his job, said Committee Chairman Homer Capehart. Powell had authorized Federal loan insurance on $6.5 to $7 billion worth of mortgages. The committee wanted to quiz Powell on his gambling losses, which first put the FBI on his trail and led to the housing investigations. Committee Counsel William Simon said that Powell, whose salary was $12,000 a year, had reportedly lost almost that much in one gambling session. Powell, who was appointed in 1934. clammed up tight. But the committee...
...Diversified Services, later controlled by Robert R. Young's Alleghany Corp. While the FHA mortgage was based on a cost of $6,600 per apartment unit, the contract with I.D.S. specified that no unit would cost more than $5,500. I.D.S. got 6% interest for the Government-insured loan, and in addition was repaid by extra fees of $919,298, plus a $173,075 premium on the mortgage, and a management contract giving the investment trust 1½% of all rents for six years...
...stolen from J. D. Molloy, added a note of explanation: "I tried to take these things but my conscience wouldn't let me, and by the way, I oiled your gun." Siesta. In St. Louis, police awakened Adolph Bohnn by pounding on the door of his loan company, told him that during his snooze a burglar had smashed a front window, set off the burglar alarm, pounded off the handle of the company safe with a hammer and an iron...
When the end came, the Lion's roar was reduced to a barely perceptible bleat. Gone was the company's $3,374,000 capital. Gone, too, was $5,600,000 of the government loan. British Lion had suffered heavy losses on such films as Cry, the Beloved Country and Gilbert and Sullivan. Said Korda, echoing the famous last words of many a onetime Hollywood cine-mogul: "They may not have done so well at the box office, but. . . they were good...