Word: loaned
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
Last December he asked the RFC (which does not lend money when private capital is available) for a loan of $70 million. If he gets it, he can pay off the insurance companies, and use $20 million to tide himself over while he does his utmost to develop new fields at New Ulm and Collins Lake. If the RFC refuses him? Glenn McCarthy might have to surrender some of his empire...
...will cover a whole wall." The list will include: "Don't pay for bands, torches, flags or banners; don't provide refreshments for voluntary workers; don't pay for food, drink or entertainment for any voter; don't offer a gift (including cigars), bribe or loan or promise same; don't exceed the number of cars legally permitted for carrying voters to the polls...
Following pressure from New England Congressmen and the recommendation of RFC's New England regional director, John J. Hagerty, RFC authorized a $6,000,000 loan for Waltham. Hagerty then left his $10,000 RFC job,, became Waltham's $30,000-a-year president - and the company hopefully reopened. But its ancient equipment and shopworn trade reputation were no match for other U.S. watchmakers and such U.S. companies as Bulova, Benrus and Longines-Wittnauer, which import watch movements from Switzerland...
Waltham was soon short of cash again, chiefly because around $3,000,000 of RFC's loan went, in effect, to pay off old Waltham loans from four banks. (On their part, the banks had written off $1,000,000 in loans.) RFC earmarked another $2,000,000 for purchase of new machinery. Of the remaining money, all but $500,000 went to pay off Waltham's other debts and taxes. When Waltham tried to get more working capital by borrowing on the $2,000,000 machinery fund, RFC said no, and the company had no choice...
...credit, levied heavy taxes, cut government spending to the bone. The course was unpopular in Belgium, and Gutt fell from power. But last week gutty Mr. Gutt, now head of the International Monetary Fund, had his reward. The Fund announced that Belgium had paid in full the $33 million loan borrowed two years ago to build up its dollar reserves. It thus became the first European nation to wipe out its debt to the Fund.* Said one Fund official: "If it weren't for Gutt, Belgium would not be able to repay...