Word: million
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Dates: during 1940-1949
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...frame house, with an adjoining Lustron guesthouse) proposed his program three years ago, RFC turned it down. Wilson Wyatt, then Federal Housing administrator, quit in protest. Presidential Assistant John Steelman stepped in and asked RFC to reconsider. RFC did so; it set Lustron on its feet with a $15.5 million loan (Strandlund & associates raised $840,000). Within a year, they needed more...
Obligingly, RFC put up another $10 million last July. By February, they again needed more. By the time RFC had put in $7,000,000-for a grand total of $32.5 million-it had embarked on the biggest government peacetime venture in prefabricated housing. But that was not the end. Gunderson said he understood that Lustron needs another $3,000,000 immediately to "tide them, over" for the next few months. After that Lustron would need about $1,000,000 a month to keep going until it reaches its break-even point of 30 to 50 houses...
...reserves would be needed by the U.S. in case of another war. But most U.S. companies have refused to go back under the poor terms offered by Pemex, the government oil monopoly. Hat in hand, Bermúdez has had to ask the U.S. to put up $200 million for an oil development loan...
...alluring? Ball estimated unproved reserves of the new Canadian fields at a whopping 20 billion barrels, contrasted to 5-15 billion barrels in Mexico. Furthermore, Ball saw the $200 million loan sought by Mexico as just a starter. Since Mexico had drilled an average of 35 wells annually in the last ten years, and "it might take 10,000 or more" to develop the fields fully, the eventual cost might run from $2 to $4 billion. The U.S. "cannot afford" to lend that much money, especially since chances are slim that Mexico's monopoly could...
...Long Island Rail Road last year carried more passengers (109 million) than any other road in the U.S., yet it went bankrupt three months ago. Why? Thousands of commuters who ride in & out of Manhattan every day on its crowded, squalid, undependable trains have long thought that they had the answer to that question: they thought that the Pennsylvania Railroad, which owns the Long Island, drove its subsidiary on the rocks by overcharging it for services rendered and underpaying it for services received...