Word: loaned
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Dates: during 1950-1959
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Like canny traders trying to decide how much to invest in a likely stock, experts from the Department of State and the Export-Import Bank wrangled over a proposed Argentine loan last week. State recommended a credit of $125 million, so that Argentina could fund her commercial debts and begin buying badly needed U.S. farm machinery. The Ex-Im negotiators, not entirely convinced that Argentina could handle and pay back a loan of that size, argued that $65 million would be enough to restore Argentine credit. For the moment no decision was reached; the dickering continued...
...Washington, meanwhile, the International Bank for Reconstruction and Development granted a $26 million loan to the Mexican Light & Power Co., Ltd., to help finance the company's expansion program through 1952. The bank noted that Mexico's growing population has made extra electrical power for industrialization a matter of top priority; Mexlight generates about 45% of Mexico's power...
...Texmass loan, said Jones, "it appears that several million dollars of this loan is to be used in making payments on loans now held by large life insurance companies [and] banks. If the loans are good, the insurance companies and banks would want to keep them. If they are bad, they should not be unloaded on the Government...
After RFC approved the $6,000,000 loan to closed-down Waltham Watch Co. last year, RFC's New England .Regional Director John J. Hagerty resigned his $10,330-a-year job to become Waltham's president at $30,000 a year. Despite RFC's help, Waltham again stopped ticking two months ago, and laid off its 1,231 employees. Last week Hagerty was back on RFC's payroll at $10,330 a year and wearing a more impressive title than before: special assistant to RFC's board of directors...
...Tennis. As succeeding generations of Browns took over, the firm's trading business was closed down, its banking business expanded. It played a leading role in the merger of many a small railroad into the big present-day systems, and pioneered in the financing of the Federal Farm Loan System...