Word: loans
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Dates: during 1950-1959
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Having recently been through the mill, most farmers were being prudent with their new prosperity. In Fresno, Calif., heart of the San Joaquin Valley machine-farming area, Julius Neilsen, Bank of America farm-loan representative, said: "I never saw so many farmers come in ahead of time and pay off their loans." The Iowa Life Insurance Co. reported its sales to farmers through April were up 78% over last year. And, said Red Oak Agent Stanley Fagerland: "When the farmer gets around to buying life insurance, you know he is getting back on his feet...
...title story, the Old Man of the Sea is played by an extraordinarily antic marriage broker who enmeshes a young rabbinical student as thoroughly as Susskind did Fidelman. The Mourners tells of a gross landlord who, in trying to dispossess an unhinged tenant, becomes instead his brother. The Loan joins a man who desperately needs help with one who desperately wants to give it but cannot: they "embraced and sighed over their lost youth. They pressed mouths together and parted forever.'' Behold the Key is a vastly comic story of a young American whose search for an inexpensive...
...recommended to Congress this week by the Senate Subcommittee on Surface Transportation, headed by Florida's George Smathers. It advocated almost all the requests for changes made by railroad presidents at the hearings in January (TIME, Jan. 27). The Smathers committee wants to: ¶Set up a guaranteed loan fund to be used for a variety of projects. Increase payments to the railroads for carrying the mail...
Russia has granted Afghanistan loans totaling $106,600,000 to build public projects, India a $115 million loan to pay for Soviet blueprints, equipment and technicians for a 1,000,000-ton-capacity steel mill. Credits for industrial development have been granted to Yugoslavia, Egypt, Indonesia. Russia last week signed a $750 million trade agreement with West Germany (see FOREIGN NEWS), has increased its trade with Latin America from virtually nothing four years ago to 8% of the area's foreign trade...
...Russia's big lures is its interest rates and repayment terms. U.S. loan interest is high, usually 4%-4½%, compared to 2% on Russia's $100 million loan to Afghanistan, repayable over 30 years. But perhaps the chief appeal of the Soviet program is that Russia, a nation that still needs many raw materials and foodstuffs, can accept commodities in trade that Western countries already have in abundance. The U.S. is actually a competitor of underdeveloped nations in selling such surplus items as rice and cotton, buys many other commodities only when they are scarce...