Word: loans
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Dates: during 1950-1959
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...Canada. The company will begin building the world's longest gas pipeline, costing more than $350 million, to bring Alberta gas some 2,000 miles to industrial Eastern Canada. Trans-Canada must complete the first 574-mile leg to Winnipeg before next Dec. 31 and must repay the loan, with 5% interest, by next April. If it fails, the company will lose all its assets in government loan foreclosure...
...born William Zorach, 69, whose massive figures have for the past four decades decorated the U.S. scene. On view at the McNay Art Institute was a retrospective showing of 27 of Zorach's sculptures, photographs of his best-known works, and 65 of his drawings and watercolors, on loan from leading U.S. museums and collectors. Editorialized the San Antonio News: "The most beautiful and exciting sculpture that it has ever been our happy privilege to see." The San Antonio Express art critic enthusiastically agreed: "The finest show of sculpture ever placed on public view in San Antonio and probably...
...agencies in the Depression '30s, massive (6 ft. 3 in., 200 Ibs.), granite-faced Jesse Jones saved many a bank, railroad and factory from disaster, made money for the Government by insisting, with a small-town banker's care, on rock-sound collateral before certifying a federal loan. Jones was dropped by Franklin D. Roosevelt as Commerce head in 1945 to make way for Henry Wallace. (He later called Wallace "an incompetent meddler with screwball ideas," denounced F.D.R. as a ruthless "total politician.") His lifelong passion was power ("I am a trustee for all of the people...
...display again last week in Manhattan's Metropolitan Museum of Art. To the delight of youngsters and oldsters alike, the Met's armor collection, second only to the great European collections in Vienna, Madrid and Paris, was back after five years in storage and on loan while the collection's ten galleries and corridors were being renovated. There was no doubt that the armor had been missed; up to 2,800 visitors a day thronged the main, banner-decked central court, to see the pick of an array that ranges from the earliest complete set of Gothic...
WEST GERMANY'S BOOM has reached point where bankers worry about bust. To check inflation, bankers have nearly doubled loan discount rate to 5.5%, started bitter fight with industrialists. Chancellor Konrad Adenauer says credit pinch threatens entire recovery...