Word: loans
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Dates: during 1950-1959
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Seymour E. Harris '20 disclosed yesterday that his revolutionary long-term loan plan received "a fair amount of support" from the faculty seminar in the Economics of Higher Education on Wednesday...
...loan plan will be looked into at greater length at our next meeting," said Harris. "It hasn't been studied enough yet, and the Deans won't want to commit themselves," he added. Dean Bender could not be reached for comment last night...
McDonald, also a member of the seminar, insisted that de-emphasis of scholarships, which the loan program assumes, should be resisted. He said the institution of a large-scale loan program would bring about "an almost impossible legal task...
...surplus from $51.1 million to $60 million, allowing it to lend $6,000,000 at a crack. But then Florence's Republic (total deposits: $798.4 million), for the ninth time in nine years, boosted its own capital and surplus from $87 million to $100 million, jumping its single loan authority to $10 million. Republic's new total resources: $948 million, v. First National's $817 million...
Soon after he stepped in as president, Florence sent out a memo in which he said that loan officers were relying too much on statistics in granting loans, and not enough on common sense. Florence made a rule that any one officer could grant a loan, but it took more than one to turn down a borrower. "At Republic," says President Stanley Marcus of Dallas' Nieman-Marcus, "nobody thinks they're doing you a favor by lending you money. They look on banking as a commodity to sell, not a privilege...