Word: loans
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Dates: during 1940-1949
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Nearly killed me for asking the loan of a glass of beer...
...Seal & Red Ink. In its heyday, Continental powered hundreds of models of independent automobiles with its famous "Red Seal" engines. But it was on the downgrade in 1931 when onetime Mechanic Jack Reese came in as purchasing agent; only a million-dollar RFC loan saved it from bankruptcy. In 1939, when Continental lost $215,165 on $7,000,000 in sales, RFC forced a reorganization and insisted that cost-conscious Jack Reese run the company...
...ever had, the Government put up $289 million. Since then FDIC has become rich from the annual dues (one-twelfth of 1% of total deposits) of its 13,582 members, and piled up a reserve of more than $1 billion. A year ago, FDIC started paying off the Government loan in installments...
Credit Plan. Westinghouse Electric Corp., which thought appliance sales might be nipped by the Government's installment credit curb, announced a new plan to make credit easier: Westinghouse will guarantee the buyer's bank loan. If he defaults, Westinghouse will buy back the equipment, and repay the balance of the loan...
...Lasker, a chic 48, got interested many years ago in the things that kill and disable people. An old friend once asked for a $500 loan to send her mother to a hospital for treatment of cancer. Mrs. Lasker gave her the money, but it was too late. When the money had to be used for the mother's funeral, "that...