Word: loans
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
...fugitive) who got him into the stock market in a small way. In the summer of 1929 Drexel invited the Birds to a summer camp with no telephone. While they were there, Drexel told Bird's secretary that her employer wanted her to arrange a $10,000 loan from the bank. She used her power of attorney to obtain it and Drexel bought $100,000 worth of stock on margin in Bird's name. Before Bird could extricate himself, the crash had come and he was short $239,000. He borrowed that amount from a friend...
...bales in loan stocks the Government had lent farmers an average 8.3? a pound. Since cotton was last week selling at about the current loan rate of 8.3?, it was obvious that the loan was pegging the price. It was also clear the farmers could not get their cotton out of hock. Let the Government make them a nominal payment of $1.25 a bale (about ¼? a pound) and take clear title...
...Government would then own outright loan stocks which cost it about 8.5? a pound. At that price, the world market would not absorb it. In order to sell it, let the Government offer its cotton to exporters at about 8.5?, pay them a bounty of from 2? to 3? a pound for as much as they can sell abroad. Result: exporters could sell cotton abroad at about 6½? and turn a profit...
...California's courts and press last week three hardheaded, self-made midwesterners were locked in noisy battle for control of the largest building and loan company in the U. S.-the $50,000,000 Pacific States Savings & Loan Co. The three battlers: 1) California's Building & Loan Commissioner Ralph Willard Evans, who fortnight ago took over Pacific States "to conserve and protect the investments of thousands of people"; 2) retired Millionaire Norman Waite Church, who was appointed custodian of the company; 3) ham-fisted Robert Stewart Odell, Pacific States' chief owner...
According to Evans, Owner Odell made a practice of offering tenants of Pacific States Savings & Loan Co. properties as much as 20% reductions in their rents if they paid them through Pacific States Auxiliary Corp., another wholly-owned subsidiary of State Guaranty Corp. P. S. Auxiliary meanwhile bought P. S. Savings & Loan certificates in the open market at about 55? on the dollar, turned them over to P. S. Savings & Loan in lieu of the rent due. If carried through, this smart practice could have enabled Odell to buy in all the certificates, leaving himself owner of all the company...