Word: loans
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Dates: during 1950-1959
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...home on a Texas tenant farm, Robert Lee (Bob) Thornton chopped brush, plowed with mules, slept in piles of cotton hulls, saved his money, went to Dallas, got a job as a bookkeeper with a firm that folded, got into the textbook business and went broke, started a "jitney loan" business which grew into the Mercantile National Bank. He grew rich and he grew old, but he refused to relax. ("You can't do a damned thing in a rocking chair-lots of action but no progress!") He lived...
...past with an interest rate of 2½% or less looked less attractive when stacked up against the new 3¼% rate. Thus, the lower price of old bonds brought their interest yield more in line with the higher rates of the new bonds. Last week victory-loan bonds, issued at a 2½% interest rate in 1941, dipped half a point to 93 9/10, v. their issue price of 100, giving them a yield of about...
...offering substantial aid to medical students. Up to 14 students may now borrow up to $1,500 apiece from the state in each school year. For every year they practice in a rural area or small town (pop. 5,000 or less), Georgia will lop $1,000 off their loan...
...Loan Life. The National City Bank of New York became the first bank to offer commercial borrowers life insurance covering the amount of their loans (up to $10,000) without requiring a physical examination. The Prudential Insurance Co will insure the loans, pay them off in the event of a borrower's death. Cost-83⅓? a month...
...factories cut production to 30% of capacity. The big Philips electric-bulb plant at Natanya was dismantled and its equipment shipped back to Holland. The government, which has already forced its citizens to lend it 10% of their currency holdings and bank deposits, last week imposed a new forced loan on property owners. Israel's first devaluation had come when pockets were full and shop windows empty. Now, at the second devaluation, pockets are empty and shopwindows are full-full of tins of canned tomatoes and figs, "frustrated exports" waiting for foreign buyers who do not come...