Word: loans
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Dates: during 1950-1959
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DEVELOPMENT LOAN FUND, new U.S. program to lend $300 million in fiscal 1958 to spur private enterprise abroad (TIME, Sept. 30), will be bossed by Dempster Mclntosh, 61, now U.S. Ambassador to Venezuela. A Republican and foreign-trade expert, he was president of Philco International Corp. from...
...door to competition was opened for Mortgage Guaranty by the FHA's rigid interest rate, set by Congress at a maximum 5¼%. In the tight-money market, banks and lending institutions have increasingly passed up FHA-backed loans to get the higher interest rates on unguaranteed mortgages. This has made it harder for many would-be buyers who were not top credit risks to get mortgages. Milwaukee Real Estate Lawyer Max H. Karl, 47, and Real Estateman S. W. Kallas, who founded Mortgage Guaranty last April, thought that a private firm could fill the gap. Friends, relatives...
...Miller retail stores, 17-store subsidiary of General Shoe Corp., one of the world's largest shoe companies, was named president of Henri Bendel Inc., swank Manhattan specialty store with annual sales volume of about $5,000,000. She succeeds Ben Willingham, General Shoe vice president on temporary loan to Bendel, who will remain as director. Tall (5 ft. 6 in.), svelte (no Ibs.) and unmarried, Jerry Stutz was educated in Chicago's St. Scholastica convent school, won a dramatics scholarship to Mundelein College, where she switched to journalism, spent her spare time modeling for Chicago...
Wallace McDonald '44, Director of Freshman Scholarships, revealed yesterday that he would give full support to the possible development of a University loan program designed to let students repay loans in installments after graduation...
McDonald pointed out that any installment payment proposal for education would have to consider that students are sometimes afraid that by borrowing they commit themselves to immediate repayment. "I would be afraid of a loan program that in effect governed a student's professional planning." McDonald said, advocating that the University maintain in a flexible repayment system based on income tax returns. "We may have to convert some loans to scholarships, after the fact," he added...