Word: loans
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
...dwindling store of foreign exchange-sure to be needed to buy vital food imports next winter-Reichsbank President Dr. Hjalmar Schacht recently decreed a sweeping moratorium (TIME. June 25). Last week British threats of retaliation broke the moratorium as far as British holders of Dawes and Young loan bonds are concerned (see p. 15). This breach in the Moratorium Front looked certain to widen before onslaughts at once launched by the U. S. and French Embassies in Berlin. There seemed to be only one answer for Germany: controlled inflation, bulwarked by government control of the Fatherland's whole economic...
With a balance of $3,600,000 remaining due on the $9,000,000 J. P. Morgan & Co. loan to Cuba, Partner Thomas S. Lament was in Havana last week. He seemed to set off no fireworks by proposing to the Mendieta Government repayment at the rate of $900,000 each July 1. Fortnight ago all Cuba cheered a Government commission which cracked down on Chase National Bank by advising President Mendieta to repay nothing on Chase's share of $60,000,000 worth of bonds floated in the U. S.-advice as to which the President prudently made...
...Education sent a telegram to RFC. The Chamber of Commerce wrote a letter. The City Council and the Rotary Club adopted resolutions. At least five other organizations pleaded by telegraph and mail. Thus last week did Toledo get behind a move to push through a $2,000,000 loan from the RFC to Willys-Overland...
...Washington, where Ohio's Senators Fess and Bulkley called at RFC headquarters to put in a good word for a state industry, RFC Chairman Jesse Jones seemed sympathetic. Willys-Overland had applied for its loan a month before, not directly, but through a mortgage association. Thus the application did not technically come under the Direct Loans to Industry bill which President Roosevelt signed last week and which limits to $500,000 the amount of money RFC may loan to one company...
Meanwhile, Chairman Jesse Jones announced a set of regulations to govern RFC loans to industry under the new law, which authorizes total RFC loans of $300,000,000, Federal Reserve Bank loans of $280,000,000. The law stipulates that adequate security must be put up, that no loans may be made to a company if it can borrow from commercial banks. Chair-man Jones's regulations were even more stringent: 1) Loans will be made primarily to supply working capital as opposed to fixed capital, but may not be used for large scale expansion or to finance exports...