Word: loans
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Dates: during 1930-1939
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From Hyde Park the Californian went to Manhattan, met Postmaster General Farley who said "Call me Jim," went on to Washington, saw Relief Administrator Hopkins, Secretaries Morgenthau and Ickes, Chairman Jesse Jones of RFC, Chairman John H. Fahey of the Home Loan Bank Board, Governor William Irving Myers of the Farm Credit Administration. Still enthusiastic, Mr. Sinclair declared: "I won't quote anybody as approving my campaign but I will say that . . . not one official expressed the opinion that my plan [End Poverty In California] was not practical. ... I am going back to assure the people of California that...
...Truscon's President Julius Kahn and his directors were severely criticized last year when the listing of additional Truscon stock on the New York Stock Exchange revealed a new wrinkle in corporate financing. Pressed for funds to meet a bank loan, the company sold 65,000 shares of stock it did not own, partly in the open market, partly by option. The stock was borrowed from President Kahn and other big shareholders. After the stock was sold, the company issued new stock to Mr. Kahn & friends. What Truscon did, in effect, was to sell short, but instead of buying back...
...somewhat similar inquiry in Manhattan a year ago revealed that not one businessman whose loan application was turned down had any reasonable claim to credit. Nevertheless, most bankers felt confident last week that, the Roosevelt Administration being what it is, they would once again be blamed for all the woes of credit stagnation...
Each financial institution first applies to the Housing Administration for a contract under which the Government "insures" its building loans up to 20%. When this contract is issued, the bank can lend from $100 to $2.000 to a local property owner to modernize his home. The borrower need put up no collateral beyond his own good name in the community. The size of his loan is limited to one-fifth of his income. Repayments can be made in installments up to three years. In case of default the U. S. will pay the bank 20 cents on each lost dollar...
Machinery for the new plant was entirely supplied by Soviet Russia, Dictator Stalin sending it as a "loan without interest" to Dictator Kemal, to be paid back in Turkish goods in 20 years. In the Turkish Parliament the queer opposition groups, which Dictator Kemal fosters and maintains expressly to blow off steam against himself, have charged that the Five Year Plan is "pure Communism," but Premier Ismet declared last week that Turkey's tariffs have been upped so high that private capitalists, seemingly unafraid, are now building cotton mills behind the tariff walls at such a rate that within...