Word: loans
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Dates: during 1950-1959
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...June 1950, to retire. Grady went to Iran with the understanding that the State Department would give him $250 million to spend on economic aid-a technique of diplomacy Grady had mastered as Ambassador to Greece from 1948 to 1950. The promises finally dwindled to a proffered $25 million loan from...
...Diary. In Washington, an old (69) man, John Ernest Toole, told an investigating Senate subcommittee that in 1944 he was chief loan analyst for the old Small War Plants Corp. One of his last official acts was approval of a $1,671,000 loan to the American Lithofold Corp. of St. Louis. Immediately afterward, he became Lithofold's treasurer. Nothing illegal about that. Besides, no one was questioning Toole's integrity. The committee was interested in what he remembered about American...
...estimated at 17.2 million bales this year, cotton prices have tumbled from a March high of 46? to 35? a lb., 24% below ceiling and a hairbreadth above parity. Rather than sell at low prices, many cotton farmers have stored their cotton in warehouses, where they can get a loan price of 31? a lb., hope to drive the price up by keeping it off the market. In Washington, cotton men have been angrily demanding that the U.S. raise the support price to 40? and begin stockpiling cotton...
...bought enough for a complete "pot-line" (i.e., enough to make 35 million Ibs. of aluminum a year). After that, all Harvey needed to make aluminum was i) a plant, and 2) the money to build it. Last fall Harvey put in his bid for the $46 million Government loan...
Only two weeks ago (TIME, Aug. 27), the Defense Production Administration indicated that it would reject Harvey's plan, for failure to agree on terms. The loan had been conditioned on his raising $7,000,000 capital of his own, and the most he could scrape up was half that amount. Last week DPA changed its mind, approved the loan to Harvey anyway. Under the terms, he has 18 months to raise the other $3,500,000, but he can draw from RFC on the loan as soon as he puts up $2,000,000 in working capital...