Word: loans
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Dates: during 1950-1959
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...deals between U.S. businessmen, few have proved more complex or mysterious than the $20 million New York Central stock deal that Texas Millionaires Clint Murchison and Sid Richardson made with Robert R. Young last year. With the help of a $7,500,000 loan from Young's Alleghany Corp., the two Texas wheeler-dealers bought 800,000 shares of Central stock, then voted them to help Young win his proxy fight to take over the railroad (TIME, June 21, 1954). Last week, in a New York Supreme Court hearing brought by disgruntled Alleghany .stockholders on a charge that...
...million "occurred to me as a pretty big bite to take alone." Well, how much was Mr. Murchison worth? asked court-appointed Referee Robert J. Fitzsimmons. Answered Murchison : "About five, six or seven million." As it turned out, though, he did not need any money, since the Alleghany loan plus two other loans, totaling $12.5 million, allowed him and .Richardson to buy the stock without putting up a penny of their...
...inhale under water," quoted from the Bible, and read from "Horatio at the Bridge," explaining how Horatio swam the Tiber clothed all in armor. Meanwhile, Captain John Phair of the Yale swimming team swam the entire length of the 25-yard pool clothed all in armor--on loan, I guess, from some museum. He wore K-rations strapped around him to make up, they said, for the lack of Tiber current in the Payne Whitney pool...
...Coop's large-scale program of expansion, based on an expected increase in student enrollment, has forced the society to seek a loan of up to $100,000, it was learned yesterday. Moreover, loans of up to $200,000 may be needed before the Coop can take over the present quarters of the Harvard Trust Company by the fall...
...current loan is necessary because of the low level of the Coop's cash reserves, Morrill said. He expects the loans to be paid back within 90 days, and that the '55-'56 patronage refunds of 8-10 percent, which have already been voted, will not be changed...