Word: loans
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Dates: during 1950-1959
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...Lines Ltd., a corporation controlled by U.S. oilmen; now Howe proposed to lend the company $80 million to start construction. In addition, Howe planned to set up a government corporation to build an uneconomic section of the line. Angrily, the Tories in the House tried to shout down the loan. If government aid were needed, argued Tory Leader George Drew, let it go to a company controlled by Canadians. Minister Howe bulled ahead; the Liberals invoked a rarely used and unpopular closure motion to shut off debate and whip the bill through...
...they need. Last week the feeders were in Washington, urging Congress to approve a pair of bills designed to help them out of their financing problems. One was a bill introduced by Oklahoma's Senator Mike Monroney that would give U.S. feeder airlines a Government guarantee on any loan from private sources; the other, in the House, would allow airline operators, like homeowners, to reinvest proceeds from the sale of old planes in new equipment without paying a capital-gains tax. Without such help, warned the Air Transport Association's President Stuart G. Tipton, one of the most...
...Profits, No Loans. "Bankers just aren't interested in loaning us money after seeing our books," says Jack Ayer of Trans-Texas Airways, which has never declared a dividend, last year netted barely $10,000 on operating revenues of $5,997,000. Almost every other feeder is in the same squeeze. When Central Airlines asked the Fort Worth National Bank for more than $2,000,000 to replace its DC-35, the bank could only take a sternly "dim view"; Central has already been to the bank 107 times since 1949, is still...
...support of the two bills to help the equipment-starved feeders get the planes they need. Though no one is sure how Congress will vote-or even if the bills will get out of committee this session-the CAB is solidly behind the Senate proposal for guaranteed loans to the feeders. The bill would guarantee up to 90% of any private loan up to a maximum face amount of $5,000,000 for each company, and estimates are that the lines will need a total $60 million in the next five years. The House bill exempting capital gains...
Most economists are well aware that the problem of inflation is far too complex to be laid at the door of any one group. Dozens of factors contribute, such as high Government spending, support prices for farmers and other subsidized groups, and a faster turnover of loan funds to offset the Federal Reserve Bank's tight-money policy. And in a new study, the Bureau of Labor Statistics points out that prices have actually led wages upward during most of the postwar period...