Word: loaned
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Dates: during 1950-1959
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...special surprise: "Only today we have been informed that the [U.S.] Export-Import Bank has assigned $150 million for our credit ... to be applied to railway improvements, highways, agricultural works including irrigation, and the expansion of electric power and communications."* The news of the biggest single U.S. loan to a Latin American republic in five years, kept secret till that moment so that Mexico's President might have the satisfaction of announcing it, fell flat. The audience seemed to miss the significance of the statement. Alemán looked disappointed...
...mergers are part of a long-term trend in New York banking. Since 1900, the number of New York City commercial banks has dwindled from 127 to 59 through mergers. Banks are moving into the mass-loan business, and need branches to do the job right. Where high interest rates once made it profitable to serve a comparatively few big customers, today's low rates and high fixed costs are forcing banks into what amounts to a chain-store operation. With thousands of clients, the banks have made this operation highly profitable with small personal loans and a host...
...Like That." The bill added one item denounced by the President and the State Department: Nevada Senator Pat McCarran's $62.5 million loan, with no strings attached, to Franco's Spain. The House argued over that one. Supporters saw it as buying the cooperation of Spain in event of war in Europe, and at least as morally justified as a loan to Tito. Not only New York's pinko Vito Marcantonio was disturbed by the loan; Virginia's conservative Howard Smith demanded to know what guarantee anybody had that Franco would help the West in case...
...third biggest loan in the World Bank's history, and the fastest ever negotiated; instead of the usual months of negotiations, it had taken just 20 days for Australia to borrow a cool $100 million.* The loan was formalized last week in Washington's whitestone World Bank building, when tall, lean World Bank President Eugene R. Black and short, stocky Australian Ambassador Norman J. O. Makin briskly signed their names to a stack of papers (30 signatures apiece...
Since all this is only a starter in the nation's five-year economic development program, Australia plans to ask the World Bank for an additional $150 million when the current loan is spent...