Word: loans
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Dates: during 1920-1929
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...popularly supposed that the titanic rivals in U. S. finance are J. P. Morgan & Co. and Dillon, Read & Co. Last week, pink-cheeked, socialistic, optimistic Finance Minister Rudolf Hilfer ding found himself short of cash for year-end budget requirements. He hastily sought to arrange an $100,000,000 loan with Dillon, Read & Co. by cable...
...several days the wires hummed merrily about millions. Then suddenly jovial Dr. Hilferding was jerked up short by brusque Dr. Hjalmar Schacht, President of the Reichsbank. A watchman of Germany's cash drawer, Dr. Schacht barked that he would not O.K. the loan. Scareheads in the Berlin press screamed that Dr. Hilferding would have to resign because now his budget would not balance. There were predictions that the Cabinet was due to fall...
Reminding its readers that J. P. Morgan & Co. will launch the long awaited German Reparations Bonds, soon after the Young Plan comes into effect (TIME, June 10, et seq.), Tageblatt intimated that should Dillon, Read beat their "rivals" to the Stock Exchange with an $100,000,000 German loan, subsequent Morgan pickings from Reparations Bonds might verge upon the loan. According to the "dope" Dr. Schacht was persuaded to obstruct the loan by Seymour Parker Gilbert, whose post as Agent General of Reparations will automatically be abolished when the Young Plan comes into effect. For years Germans have been hearing...
Earlier in the week Dr. Schacht intervened in negotiations by the City of Berlin with Dillon, Read & Co. for a $14,400,000 loan, squashed it. Berlin understands"that the City was about to hire the money from Dillon, Read for 8.6%, that Dr. Schacht offered to supply it from the Reichybank...
...academic mind, there is more satisfaction to be found in the personal advantage accruing from the responsibility to the student than in the fact that he is now recognized as a potentially safe risk by investment houses. His early establishment of credit and operation of the loan on a sound business basis naturally creates a measure of self-reliance in the formative period of life which should be of immense value in later years. Gratitude should be expressed to the Harmon trustees as much for the practical economic experience gained by the recipients of the loans as for the opportunities...