Word: loans
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Dates: during 1950-1959
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...smoke-hazed dining room of Las Vegas' Desert Inn last week, the supply of ready money would have staggered the earnest searcher for a low-rate bank loan. Free Scotch and fast talk was all it took to con a crew of well-heeled high rollers into coughing up $266,000 worth of bets. For his cash, each gambler was buying a crack golfer in the "Calcutta" auction before the Desert Inn's sixth annual Tournament of Champions. The man who owned the winner would get a whopping $95,760 share of the pot; even a lowly seventh...
...stories, editorial fun and promotion games. But heading out in the new direction, the Modern Republican Trib slumped badly, last September went to its good friend, Modern Republican John Hay ("Jock") Whitney, 53, currently Ambassador to the Court of St. James's, for a reported $2,000,000 loan...
...part of last September's deal, Ambassador Whitney got an option to convert his original loan into stock. By exercising the option, says McCrary, and investing another $2,000,000 in the company, Whitney can get 60% control. An estimated $2,000,000 more will be needed to pay off debts and put the Trib on a sound operating basis. McCrary is certain Whitney will buy in ("Jock's a stayer"). But Reid shrugged off questions with "You'll have to ask Mr. Whitney." and in London, Whitney would say only: "My interest in the Herald Tribune...
BUILDER William Zeckendorf will get $22.5 million loan from Prudential Insurance Co. for his Courthouse Square project to cover two blocks in Denver. He has put up a four-floor department store, by next year will complete a 21-story, 1,000-room hotel with 2,000 underground parking spaces...
...followed with such pictures as Moulin Rouge, Trapeze, Summertime, was willing to take chances that major studios balked at. When Mike Todd could get no backers for Around the World in 80 Days, U.A. rescued him with $2,000,000, arranged a further bank loan. To date, the picture has paid more than $16 million to U.A. in rentals...