Word: loans
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Dates: during 1950-1959
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...family scuffle that kicked the New York Herald Tribune's President Whitelaw Reid upstairs in 1955, younger brother Ogden ("Brownie") Reid took over the ailing paper with the titles of president, publisher and editor. Brownie Reid, Yale '49, brought with him a $2,250,000 insurance company loan on the 20-story Herald Tribune Building in midtown Manhattan (41st Street) and an ambitious two-year plan for a "lighter, brighter" Trib...
...evidence of this reluctance, Republican Senator Thomas Kuchel of California urged the U.S. to "weigh carefully" any Indian loan: "Her foreign policy is of course her own business. But, it seems to me, America's helping hand ought to be extended to nations which share our goals." Countered one of the Democrats' leading lights on foreign affairs, Montana's Senator Mike Mansfield: "I believe that underneath this neutralism, India would, if the chips were down, be on the side of the West. Our faith in India's future may well be the decisive factor...
Nehru's relative continence in discussing other nations' foreign affairs was refreshing, but it was not mysterious. The truth is that India is in grave, potentially even catastrophic financial difficulties; and the only possible source of salvation is an immediate, large-scale U.S. loan. How much? To the New York Times's Henry R. Lieberman, Nehru confided last week: from $500 million to $600 million...
Asset or Liability. In Washington, State Department officials have privately advised Indian diplomats that they could hardly expect an economy-minded U.S. Congress to lend a sympathetic ear to a loan request from a nation that has repeatedly gone out of its way to irritate U.S. opinion in foreign affairs; proven friends and allies of the U.S. are having a hard enough time getting...
...Icelandic is negotiating for a sizable loan from the Export-Import Bank to buy new equipment, hopes to have two turboprop airliners on its Far North routes by 1959. Since faster, bigger planes will bring higher revenues, Icelandic expects to keep bargain fares for years to come. Says Craig: "They call us cut-rate, and I'm proud...